Plato Gold Corp.

Plato Gold Corp.

April 29, 2008 08:30 ET

Plato Gold Intercepts 5.66 g/t Au Over 8.50 m Including 10.08 g/t Au Over 2.5 m

TORONTO, ONTARIO--(Marketwire - April 29, 2008) -


Plato Gold Corp. (TSX VENTURE:PGC) ("Plato") an exploration company with a portfolio of properties in significant gold mining camps in Northern Ontario, Northern Quebec, and Santa Cruz, Argentina is pleased to release assay results from the last 3 drill holes completed this year at the Nordeau Project. The Property is located 50 km east of Val-d'Or, Quebec and has been optioned from Globex Mining Enterprises Inc. ("Globex"). The recent drill results further exemplify a widening and an increasing grade in the "Main Zone" at Nordeau West.

Highlights Include:

NW-08-06 8.5m of 5.66 g/t Au - From 553.80m - 562.30m
Including 2.5m of 10.08 g/t Au - From 558.05m - 560.55m

All three holes namely, NW-08-04 to NW-08-06, inclusive, successfully intersected gold bearing mineralization within the favourably altered mafic volcanic horizons. Hole NW-08-06 intersected a broad zone of mineralization at a vertical depth of 525m that graded 5.66 g/t Au over 8.50m and included a narrower high grade interval of 10.08 g/t Au over 2.5m. Hole NW-08-05 drilled on the same north-south section intersected the same horizon at a vertical depth of 425m (100m above hole NW-08-06) and graded 1.00 g/t Au over 8.65m including a narrow interval grading 4.29 g/t Au over 0.65m. Hole NW-08-04 intersected a much wider lower grade zone within the same mineralized horizon 125m west along strike of hole NW-08-06 and at the same approximate vertical depth of 525m. The mineral zone intersection in hole NW-08-04 graded 0.77 g/t Au over 18.65 m.

The six hole NQ diamond drill core program (3,369 meters) conducted by Forage Val d'Or and completed in 2008 at the Project was designed to target gold zones indicated by new 3D geological and gold grade models developed within GEMCOM's GEMS 6.1 software system. The model indicates the Nordeau West claims overlay an extensive zone of alteration and lower grade gold mineralization throughout the approximately 1 km strike length of the claims. This broad zone of lower grade mineralization appears to plunge moderately to steeply northwest. The model further indicates that within this larger lower grade zone occurs several high grade shoots that plunge relatively shallow towards the northeast. The present interpretation suggests that a series of "en echelon" high grade lenses plunge shallow to the northeast and are "stacked" within the larger lower grade zone plunging steeply to the northwest.

The successful intersection of the wide lower grade zones in holes NW-08-04 and NW-08-05 in the central portion of the claims represents significant up-side potential for developing resources. The successful high grade intersection in hole NW-08-06 indicates potential to develop high grade shoots along the shallow northeast plunge from shallower historic high grade intersections near the western limits of the property. Notably this deeper intersection represents an area which has received very little attention from previous exploration campaigns.

The principal gold mineralization on the property is found within sheared and altered mafic volcanics near a contact with metamorphosed sediments containing magnetite iron formations proximal to the contact. The gold mineralization is typically within quartz veins containing disseminated to locally semi-massive sulphides. Gold is found as free grains within quartz veins or associated with sulphide mineralization. The associated sulphide mineralization consists of arsenopyrite, pyrite, pyrhotite, and minor chalcopyrite.

The most significant drill assay intervals from the last three holes are:

m m m g/t
548.45 567.40 18.95 0.77
INCLUDING 550.60 554.85 4.25 1.01
AND 565.55 567.40 1.85 2.49

m m m g/t
393.65 402.30 8.65 1.00
INCLUDING 393.65 394.30 0.65 4.29

M m m g/t
553.80 562.30 8.50 5.66
INCLUDING 558.05 560.55 2.50 10.08
AND 558.05 558.95 0.90 15.25
AND 559.80 560.55 0.75 14.45
AND 561.50 562.30 0.80 4.66

The results from the recently completed drill program will be added to the database and the geological model updated and re-evaluated by A.S. Horvath Engineering Inc. Recommendations for follow-up exploration drilling are anticipated.

The program is being managed by Jason Ross and Martin Bourgoin, P.Geo., who are independent consultants. Martin Bourgoin, P.Geo., is the Project's Qualified Person under the guidelines of National Instrument 43-101, and he has reviewed and approved this release.

QA/QC Procedures

The Company has implemented a quality control program to ensure best practices in sampling and analysis of the core samples. The core is first logged and then split in half during the sampling process with the remaining half being retained for verification and reference purposes. Duplicates, standards and blanks are inserted randomly into the sample stream. The samples are delivered directly in security bags to ALS-Chemex Laboratories Ltd. in Val-d'Or, Quebec (Certification ISO 9001) for analysis by fire assay - AA techniques. ALS-Chemex Laboratories Ltd. of Val-d'Or, Quebec an accredited lab is the primary assay laboratory. Additionally ALS-Chemex has attained ISO 9001:2000 registration which requires evidence of a quality management system covering all aspects of the assaying process. To ensure compliance with this system regular internal audits are undertaken by staff members specially trained in auditing techniques.

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, Northern Quebec and the Lolita Property in the province of Santa Cruz, Argentina. The Northern Ontario project includes 5 properties: Guibord, Harker, Harker-Garrison, Holloway and Marriott in the Harker/Holloway gold camp located east of Timmins, Ontario. The Northern Quebec project includes 7 properties: Nordeau Bateman, Vauquelin, Vauquelin Pershing, Vauquelin Horseshoe, Pershing Denain, Hop O'My Thumb and Once Upon a Time. All 7 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 concessions and initial work has been started on this property. For additional company information, please visit:

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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 concerning Plato's plans for its mineral properties, which involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Plato, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. 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: 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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