Plato Gold Corp.

Plato Gold Corp.

November 18, 2008 09:00 ET

Plato Gold Successfully Intercepts 4.28 g/t Au Over 8.05 m at Nordeau West Property, East of Val d'Or

TORONTO, ONTARIO--(Marketwire - Nov. 18, 2008) -


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 Quebec, and Santa Cruz, Argentina is pleased to announce that the 8 hole, 5200 m drill campaign performed on the Company's Nordeau West Property, located 40 km east of Val-d'Or, Quebec, is complete and all assay results have been received.

Anthony J. Cohen, President and CEO of Plato Gold Corp. stated "We are very pleased to report these noteworthy results, and expect to publish a NI 43-101 compliant resource estimate for this property by the end of this year."

"This will be a major step forward for Plato Gold Corp and will add real value for our shareholders, as a resource figure should underpin our share price despite volatile markets. We are fortunate also that this deposit is located close to Val-d'Or, Quebec, a city with an advanced geological and mining infrastructure, a knowledgeable and well-trained workforce along with favourable government policies," said Mr. Cohen.

Results from this drilling program will be used to revise the size and grade of the gold mineralization.

The Nordeau West Property lies within a highly sheared sequence of altered greywacke, iron formation and mafic volcanic rocks along the eastern extension of the prolific "Larder Lake - Cadillac Break", in the Abitibi Greenstone Belt. The gold mineralization typically occurs within quartz veins containing disseminated to locally semi-massive sulphides. Gold is found as free grains within quartz veins and with associated sulphide mineralization that consists of arsenopyrite, pyrite, pyrrhotite, and minor chalcopyrite.

Earlier work, including a recently completed 3-D geological and gold-grade model, shows that the Nordeau West claims overlie a broad zone of alteration and mineralization that occurs as a series of en echelon, high-grade lenses plunging shallowly to the northeast, stacked within an encompassing lower-grade zone that plunges steeply to the northwest.

Seven holes of the recent program successfully intersected the mineralized zone at the depth where the model indicated they would, thereby confirming grade and continuity. The eighth hole deviated rapidly after it was collared and could not be corrected. The mineralized zone can now be traced 750m laterally (east-west), to a depth of 700 m, and remains open in all directions.

Significant gold-assay intervals from the mineralized zone include:

4.28 g/t over 8.05 m including 13.9 g/t over 0.6 m and 5.81 g/t over 0.9m (NW08-07);

5.54 g/t over 3.0 m including 8.85 g/t over 1.45 m (NW08-10);

18.8 g/t over 0.55 m (NW08-12) and;

3.90 g/t over 4.25 m, including 6.13 g/t over 1.35 m and 12.25 g/t over 0.55 m (NW08-13).

The highlights from each hole are:

NW-08-07 4.28 g/t over 8.05 m
NW-08-08 1.90 g/t over 5.85 m
NW-08-09 0.70 g/t over 1.5m
NW-08-10 5.54 g/t over 3.0 m
NW-08-11 1.23 g/t over 4.0 m
NW-08-12 2.38 g/t over .55 m
NW-08-13 3.90 g/t over 4.25 m
NW-08-14 4.3 g/t over .75 m

The program is being supervised by Martin Bourgoin P.Geo. and John Langton M.Sc. P.Geo., who are the Project's Qualified Person under the guidelines of National Instrument 43-101.

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 was logged and then split. Half of the core was sent for assay, and half was retained for verification and reference purposes. Duplicates, standards and blanks were inserted randomly into the sample stream. The samples were delivered, in security bags, directly to ALS-Chemex Laboratories Ltd. in Val-d'Or, Quebec for analysis. Samples with visible gold were analysed by screen/fire AA methods, whereas the remaining samples underwent fire/AA analysis.

The accredited ALS-Chemex Laboratories Ltd. of Val-d'Or, Quebec was the only assay laboratory used for lithogeochemical analyses. 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. 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:

For all Plato Gold Corp. investor relations needs, investors are asked to visit the Plato Gold Corp. IR Hub at where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time.

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 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 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, 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. Plato 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.

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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