Plato Gold Corp.
TSX VENTURE : PGC

Plato Gold Corp.

April 21, 2010 09:05 ET

Plato Gold Reports on 2009 Year End Results and Grant of Options

TORONTO, ONTARIO--(Marketwire - April 21, 2010) -

NOT FOR DISTRIBUTION IN THE UNITED STATES.

Plato Gold Corp. (TSX VENTURE:PGC) ("Plato" or the "Company") an exploration company with a portfolio of properties in significant gold mining camps in Northern Ontario, Northern Québec, and Santa Cruz, Argentina is pleased to report the three and twelve months financial results for fiscal 2009 and 2008 as summarized below:

    Three Months Ended   Year Ended
    (Unaudited)   (Audited)
  December 31,   December 31, December 31, December 31,
    2009     2008   2009   2008
                   
Revenue $ (184 ) $ 476 $ 244 $ 8,040
Loss for the period $ 416,373   $ 340,337 $ 560,226 $ 276,564
Loss per common share                  
    Basic $ 0.01   $ 0.01 $ 0.01 $ -
    Diluted $ 0.01   $ 0.01 $ 0.01 $ -
Weighted average number                  
  of common shares                  
  outstanding during the                  
  period                  
    Basic   92,278,039     60,376,973   73,707,576   55,947,918
    Diluted   92,278,039     60,376,973   73,707,576   55,947,918

For fully details, please visit us at www.platogold.com.

In addition, at the meeting of the board of directors on April 20, 2010, the board in accordance with the Corporation's stock option plan, approved the grant of options to acquire a total of 1,875,000 common shares of the Corporation at an exercise price of $0.10 per share to the Corporation's directors, officers, employees and consultants. The stock options are vested on date of the grant. Prior to the grant of options, the Corporation has 103,175,117 shares outstanding.

About Plato Gold Corp.

Plato Gold Corp. is a Canadian junior gold exploration company listed on the TSX Venture Exchange with exploration projects in Northern Ontario, Northern Québec 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 Québec 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, Québec.

Plato is in the advanced exploration stage on the Nordeau West site with a NI 43-101 compliant gold resource reported on March 12, 2009. Highlights of the Nordeau West mineral resource update include:

indicated resources of 30,212 oz Au on average grade of 4.17 g/t and 225,342 tonnes; and
inferred resources of 146,315 oz Au on average grade of 4.09 g/t and 1,112,321 tonnes.

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: www.platogold.com.

Forward Looking Statements

This news release contains "forward-looking statements", within the meaning of applicable securities laws. These statements include, but are not limited to, statements regarding the proposed private placement and closing thereof, Mineralfields' subscription for additional Flow-Through Units, potential mineralization and resources, exploration results, and future plans and objectives. 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, use of proceeds, 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 offering 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. The Company does not undertake to update any forward-looking statements that are incorporated by reference herein, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information