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TORONTO, ONTARIO--(Marketwire - Dec. 9, 2010) -
NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWSWIRE SERVICES
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 it has added 43 more claims to the Company's land position in Val d'Or, Quebec.
"We are very pleased to have picked up these additional claims in the Val d'Or region," said Mr. Anthony Cohen, President and CEO of Plato Gold. "These additional 43 claims add to our strategic claims position in a camp that has produced approximately 200 million ounces of gold historically. Evidence of the value of having a large strategic land position is our recently announced option deal with Threegold Resources Inc. announced on November 16, 2010," said Cohen.
In the Val d'Or region, the Company anticipates to close its recently announced private placement before year end with the next stage of drill program on the Nordeau Bateman property starting early 2011.
Plato Gold holds through staking, purchase and an option agreement a total of 278 claims totaling 4483.67 hectares in the Val d'Or region. Of the total 278 claims, 44 claims are optioned from Globex Mining Enterprises Inc. and 53 claims have been optioned to Threegold Resources Inc. Plato owns 100% of the remaining 181 claims in the region.
About Plato Gold Corp
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Plato Gold Corp. is a Canadian junior 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.
The Northern Quebec project includes 6 properties: Nordeau Bateman, Vauquelin, Vauquelin Pershing, Vauquelin Horseshoe, Pershing Denain, and Hop O'My Thumb. All 6 properties are located near Val d'Or, Quebec.
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
