TORONTO, ONTARIO--(Marketwire - March 30, 2011) -
NOT FOR DISTRIBUTION IN THE UNITED STATES.
Plato Gold Corp. (
News -
Market indicators) ("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 report the three and twelve months financial results for fiscal 2010 and 2009 as summarized below:
Three Months Ended Year Ended
-----------------------------------------------------------
(Unaudited) (Audited)
December 31, December 31, December 31, December 31,
2010 2009 2010 2009
-----------------------------------------------------------
Revenue $ 94 $ (184) $ 811 $ 244
Loss for the
period $ 277,486 $ 416,373 $ 448,901 $ 560,226
Loss per common
share
Basic $ 0.01 $ 0.01 $ 0.01 $ 0.01
Diluted $ 0.01 $ 0.01 $ 0.01 $ 0.01
Weighted average
number
of common shares
outstanding
during the
period
Basic 102,454,889 92,278,039 102,092,428 73,707,576
Diluted 102,454,889 92,278,039 102,092,428 73,707,576
For fully details, please visit us at
www.platogold.com.
In addition, at the meeting of the board of directors on March 29, 2011, the board in accordance with the Corporation's stock option plan, approved the annual grant of options to acquire a total of 2,850,000 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 and expiring ten years from date of the grant. Prior to the grant of options, the Corporation has 123,191,655 shares outstanding.
About Plato Gold Corp.
Plato Gold Corp. is a Canadian gold exploration company listed on the TSX Venture Exchange with 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. In November 2010, Plato signed an agreement granting St Andrew Goldfields Ltd. the option to earn a 75% interest in four of the above properties.
The Northern Quebec project includes 7 properties: Nordeau Bateman, Vauquelin, Vauquelin Pershing, Vauquelin Horseshoe, Pershing Denain, Hop O'My Thumb and Vauquelin II. All 7 properties are located near Val d'Or, Quebec. In November 2010, Plato signed an agreement granting Threegold Resources Inc. the option to earn a 75% interest in two of the above properties.
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 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.
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.
Plato Gold Corp.
Anthony Cohen
President and CEO
416-968-0608
416-968-3339 (FAX)
info@platogold.com
www.platogold.com 
