Plato Gold Corp.

Plato Gold Corp.

April 23, 2013 09:00 ET

Plato Gold Reports on 2012 Year End Results

TORONTO, ONTARIO--(Marketwired - April 23, 2013) - Plato Gold Corp. (TSX VENTURE:PGC) (" Plato" or the "Company"), an exploration company with a portfolio of properties in significant gold mining camps in Santa Cruz, Argentina, Northern Québec, and Northern Ontario is pleased to report the three and twelve months financial results for fiscal 2012 and 2011 under International Financial Reporting Standards (IFRS), as summarized below:

Three Months Ended
Year Ended
December 31, 2012 December 31, 2011 December 31, 2012 December 31, 2011
Income $ 415 $ 463 $ 1,378 $ 106,779
Net Loss and Comprehensive Loss $ 3,460,799 $ 187,848 $ 3,735,370 $ 558,277
Net Loss and Comprehensive Loss per common share
Basic $ 0.03 $ - $ 0.03 $ -
Diluted $ 0.03 $ - $ 0.03 $ -
Weighted average number of common shares outstanding during the period
Basic 143,591,655 135,370,805 143,591,655 135,524,422
Diluted 143,591,655 135,370,805 143,591,655 135,524,422

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About Plato Gold Corp.

Plato is a Canadian 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 4 properties: Guibord, Harker, Holloway and Marriott in the Harker/Holloway gold camp located east of Timmins, Ontario. In November 2010, Plato signed an agreement granting St Andrew Goldfields Ltd. the option to earn a 75% interest in the above properties. Currently the Holloway and Marriott properties remain in good standing. In July 2012, Plato sold a 50% interest in the Guibord property to Victory Gold Mines Inc. who amalgamated February 6, 2013 with Northern Gold Mining Inc. In February 2013, Plato sold an 80% interest in the Harker property to Northern Gold Mining Inc.

The Northern Québec project includes 6 properties: Vauquelin, Vauquelin Pershing, Vauquelin Horseshoe, Pershing Denain, Hop O'My Thumb and Vauquelin II. All 6 properties are located near Val d'Or, Québec, comprised of 230 mineral claims, totaling 3,822 hectares.

In Argentina, Plato owns a 75% interest in Winnipeg Minerals S.A., an Argentina incorporated company. The Lolita Property is comprised of a number of contiguous mineral rights totaling 27,857 hectares are held by Winnipeg Minerals S.A. Work has advanced on this exploration property to the point that it is drill-ready or ready to be optioned to a partner.

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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, 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: 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.


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