Plato Gold Corp.

Plato Gold Corp.

October 20, 2006 09:00 ET

Plato Gold Signs Drilling Contract With Forage Orbit Inc.

TORONTO, ONTARIO--(CCNMatthews - Oct. 20, 2006) -

Not for Distribution in the United States.

Plato Gold Corp (TSX VENTURE:PGC) is pleased to announce that it has signed a drilling contract with Forage Orbit Inc., of Val d'Or, Quebec.

The contract calls for a minimum of 3500 linear metres of drilling on Plato's option Nordeau properties in Val d'Or, Quebec. This is an active exploration area with many senior, intermediate, and junior companies carrying out exploration programs.

Plato Gold's drilling program represents the Phase I of the work program as outlined in the previously announced 43-101 technical report, which can be found at our website at The drilling program will start on October 23, 2006.

Forage Orbit Inc. is a leading drill contractor in the Val d'Or area with both domestic and international experience.

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.

Contact Information

  • Plato Gold Corp.
    Mr. Anthony Cohen
    President and Chief Executive Officer
    (416) 968-0608
    (416) 968-3339 (FAX)
    Plato Gold Corp.
    Suite 300, 1300 Bay Street
    Toronto, Ontario M5R 3K8