Plato Gold Corp.

Plato Gold Corp.

October 10, 2007 09:00 ET

Plato Gold Files Update for 43-101 Report on Nordeau Properties

TORONTO, ONTARIO--(Marketwire - Oct. 10, 2007) -


Plato Gold Corp. ("Plato") (TSX VENTURE:PGC), a Canadian junior exploration company focused on prospective exploration properties in recognized gold mining districts, is pleased to announce that it has filed an updated National Instrument 43-101 Report for the Nordeau Properties located at the southeastern end of the of the Archean Abitibi Greenstone Belt in Quebec.

Updated NI 43-101 Report

An update to the independent NI 43-101 compliant technical report of August 15, 2006 has been prepared by Mr. Martin Bourgoin, P.Geo. The original report of August 15, 2006 and the updated report of October 5, 2007 are both available under Plato's SEDAR profile (

The updated report incorporates results of the completed 7,356 metres diamond drilling program. The drilling program was initiated on October 2006 and was completed in March 2007. The drilling program was carried out under the supervision of Mr. Peter Karelse, P.Eng (Geo.) under the supervision of MRB Associates, a Val d'Or based geological consulting firm.

A significant result came from hole PG06-07 which intersected 7.85 g/t Au over a core length of 10 metres. The results from PG06-07 in conjunction with the results from holes PG06-01 (4.76 g/t Au over 2.4 metres) and historic holes W90-09 and W90-09B within the identified Main zone suggest that the exploration potential of the Main zone at the Nordeau West project area remains positive.

The drilling program has identified five mineralized zones on the Nordeau West project area. The results from both historical and current drilling which influence the Main zone indicate a strike length of 400 metres, a down-dip extension of 750 metres. The Main zone remains open along strike and down dip.

On June 13, 2007, Plato announced that it had acquired 147 new claims adjacent to the four original Nordeau properties. Plato now holds 191 claims (3,009.4 ha) in the Val d'Or gold camp in the south-eastern end of the Achean Abitibi Greenstone Belt in the Val d'Or, Quebec region.

Anthony Cohen, Chief Executive Officer of Plato commented: "We are encouraged by the results at the Nordeau West project. Based on the recommendations of the updated NI 43-101 report the company will proceed with a winter drilling program to further delineate the already established five individual zones of gold mineralization at Nordeau West and to test new targets."

The technical information contained in this Press Release relating to the above exploration activities is reported and verified by Mr. Martin Bourgoin, P. Geo, Plato's consultant, who is a "qualified person" as defined in NI 43-101.

About Plato Gold Corp.

Plato Gold Corp. ("Plato") is a Canadian junior gold exploration company listed on the TSX Venture Exchange. Plato has Canadian exploration projects in Northern Ontario and Quebec and the Lolita Property in the province of Santa Cruz, Argentina. The Northern Ontario project includes 4 properties: Guibord, Harker, Holloway and Marriott in the Harker/Holloway gold camp located east of Timmins, Ontario. The Northern Quebec project includes 5 properties: Nordeau Bateman, Vauquelin, Vauquelin Pershing, Vauquelin Horseshoe, and Pershing Denain. All 5 properties are located near Val d'Or, Quebec and Plato is in the early stage of exploring these projects. In Argentina, the Lolita Property is comprised of 3 contiguous claims.

Cautionary Statements

This news release contains "forward-looking statements", within the meaning of the United States Private Securities Litigation Reform Act of 1995 and similar Canadian legislation, concerning the business, operations and financial performance and condition of Plato. Forward-looking statements include, but are not limited to, statements with respect to the benefits of the offering and option transaction. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made, and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Plato to be materially different from those expressed or implied by such forward-looking statements, including but not limited to risks related to: raising less than the required amount; not realizing on the anticipated benefits from the transaction or not realizing on such anticipated benefits within the expected time frame; risks related to exploration; actual resource viability, and other risks of the mining industry. Although management of Plato has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Plato does not undertake to update any forward-looking statements that are incorporated by reference herein, except in accordance with applicable securities laws.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

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