Plato Gold Completes Terms for the Acquisition for the Pic River PGM-Copper Project and Provides Exploration Update
For Immediate Release
Plato Gold Completes Terms for the
Acquisition for the Pic River PGM-Copper Project
and Provides Exploration Update
Toronto, March 20, 2024 – Plato Gold Corp. (TSX-V: PGC) (OTCQB: NIOVF) (FRANKFURT:
4Y7 OR WKN: A0M2QX) (“Plato” or the “Company”) an exploration company with a portfolio
of properties in Northern Ontario and Santa Cruz, Argentina is pleased to announce it has
completed terms for the 100% acquisition of the Pic River PGM-Copper Property in Northwestern
Ontario, from owner Rudy Wahl.
The property is located 21 km northwest of Marathon and is contiguous with the western boundary
of Generation Mining Limited’s Marathon Palladium -Copper Project. As per the agreement with
Dr. Wahl, Plato has made a total cash payment of $125,000, issued 1,650,000 Plato Common
Shares, and by completing exploration expenditures in excess of $250,000, has fulfilled the
minimum exploration expenditure requirement of $160,000 (Press Release, January 28, 2020).
Generation Mining is in the final stages of development related to their Marathon Pd- Cu-Pt-Au-
Ag Deposit adjacent to Plato’s Pic River Property. The Marathon Deposit currently hosts a
Measured and Indicated resource of 188.6 Mt @ 0.58 g/t Pd, 0.20% Cu, 0.19 g/t Pt, .07 g/t Au and
1.73 g/t Ag; and an Inferred resource of 1.7 Mt @ 0.37 g/t Pd, 0.16% Cu, 0.14 g/t Pt, .07 g/t Au
and 1.25 g/t Ag (Generation Mining Limited Website, March 10, 2024).
A recent press release (Mar ch 7, 2024) by Generation Mining indicates they have initiated a
diamond drilling exploration program targeting known deposits and prospects of copper along the
main trend west and north of the Marathon Deposit. This includes work on the Sally Deposit
(copper) located within 3 km of the northeast boundary of Plato’s Pic River property. The main
trend follows the Eastern Gabbro on Generation’s property along the northern rim of the host
Coldwell Intrusive Complex in a west northwesterly strike toward Plato’s Pic River Property.
As part of this recent activity, Generation has also acquired additional claims to the west of their
main property, adjacent to and surrounding Plato’s Pic River Property.
The Coldwell Complex has undergone significant exploration over the past 20 years primarily
focused along the eastern margin of the Complex. The western strike extension of the Eastern
Gabbro which hosts the Sally Lake Deposit, Wullie Lake, and Boyer prospects on Generation’s
Property, continues into the northeastern portion of Plato’s Pic River Property.
Mapping conducted by the Ontario Geological Survey indicates the continuation of the Eastern
Gabbro westward onto Plato’s Pic River Property (Walker 1993, OFR 5868). In general, the
underexplored western margin of the Coldwell Complex and the western extension of the Eastern
Gabbro, host potential for similar PGE -Cu-Au mineralization. Due to the rugged nature of the
terrain in this area, it has been subject to only minimal historical exploration activity.
In October of 2021, Plato completed a High- Resolution Airborne Magnetic (Mag) and
Electromagnetic (EM) Survey over Plato ’s Pic River Property (Press Release, November 30,
2021). The survey identified numerous high priority anomalies which were targeted for detailed
exploration. Due to the rugged terrain in this area, preliminary groundwork included the brushing
of historic trails to less accessible portions of the claim group along with an initial prospecting and
sampling program in late 2022 (Press Release, November 30, 2022). Results indicate areas of
anomalous copper and gold mineralization. There are numerous Priority One Mag and EM
anomalies that remain untested and these will be targeted by Plato for future detailed ground
exploration.
The technical information found within this news release has been reviewed and approved by
Gerald D. White, B.Sc., P.Geo., a qualified person (QP) for the purposes of NI 43-101.
About Plato Gold Corp.
Plato Gold Corp. is a Canadian exploration company traded on the TSX Venture Exchange, OTC
Markets, and Frankfurt Exchange with projects in Timmins, Ontario, Marathon, Ontario and Santa
Cruz, Argentina.
The Timmins Ontario project includes 4 properties: Guibord, Harker, Holloway and Marriott in
the Harker/Holloway gold camp located east of Timmins, Ontario with a focus on gold.
In Argentina, Plato owns a 95% interest in Winnipeg Minerals S.A. (“WMSA”), an Argentina
incorporated company that holds a number of contiguous mineral rights tota lling 9,672 hectares
with potential for gold and silver.
The Good Hope Niobium Project consists of approximately 5,146 hectares in Killala Lake Area
and Cairngorm Lake Area Townships, near Marathon Ontario with the primary target being
niobium.
The Pic River Platinum Group Metals (PGM) Project consists of 2,247 hectares in Foxtrap Lake
and Grain Township, near Marathon Ontario of which 19 claims are contiguous to the western
boundary of Generation Mining’s Marathon PGM project and is located on strike to Generation
Mining’s Sally deposit.
For additional company information, please visit www.platogold.com.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT
TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.
For further information, please contact:
Anthony Cohen
President and CEO
Plato Gold Corp.
T: 416-968-0608
F: 416-968-3339
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, concentrations of pay miner als that may offset
operating costs and future plans and objectives. These forward-looking statements are subject to a variety of risks and uncertainties and other
factors that could cause actual events or results to differ materially from those projected in the forward -looking information. Risks that could
change or prevent these statements fr om coming to fruition include but are not limited to: changing costs for mining and processing; increased
capital costs; the timing and content of upcoming work programs; geological interpretations based on drilling that may change with more detailed
information; potential process methods and mineral recoveries assumption based on limited test work and by comparison to what are considered
analogous deposits that with further test work may not be comparable; testing of our process may not prove successful an d even it tests are
successful, the economic and other outcomes may not be as expected; the availability of labour, equipment and markets for the products produced;
and conditions changing such that the minerals on our property cannot be economically mined , or that the required permits cannot be obtained.
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 forward-looking information contained
herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new event s or
circumstances, except as required by law.