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Announces Loan Agreement

posted on Jan 01, 09 11:26AM

December 31, 2008

Plato Gold Announces Loan Agreement

TORONTO, ONTARIO--(Marketwire - Dec. 31, 2008) -

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 Quebec, and Santa Cruz, Argentina announced today the completion of a loan from an arm's length third party in the amount of $125,000, which loan is secured by a first-ranking security interest in the Company's refund from Revenue du Quebec in respect of the Company's claims for refund for exploration expenses incurred in 2008.

The principal amount of $139,000 together with interest payable thereon shall be payable on the earlier of September 30, 2009 or upon the Company receiving the refund from Revenue du Quebec. Interest shall accrue on the principal at the simple rate of 5% per annum.

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: www.platogold.com.

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