Plato Gold Reports on Third Quarter Results And Writes Off Accrued Liabilities
For Immediate Release
Plato Gold Reports on Third Quarter Results
And Writes Off Accrued Liabilities
Toronto, November 21, 2018 – Plato Gold Corp. (TSX-V: PGC ) (“ Plato ” or the “Company”), an
exploration company with a portfolio of properties in Northern Ontario and Santa Cruz, Argentina is
pleased to report the nine and three months financial results for fiscal 2018 and 2017, as
summarized below:
Nine Months Ended Three Months Ended
(Unaudited) (Unaudited)
Sept. 30, Sept. 30, Sept. 30, Sept. 30,
2018 2017 2018 2017
Income $ 2,675 $ 2,015 $ 970 $ 730
Net loss and comprehensive loss $ (383,900) $ (198,920) $ (125,977) $ (66,682)
Loss per common share -
basic and diluted $ - $ - $ - $ -
Weighted average number
of common shares outstanding -
basic and diluted 197,433,061 143,591,655 197,433,061 143,591,655
At the meeting of the board of directors, the current di rectors and the President & CEO, agreed to
write off the accrued liabilities for past directors’ fees from 2008 to 2018 and the accrued liabilities
for the President & CEO’s past salary from 2015 to 2018, total ing $685,753.74. This eliminates the
amount from the Company’s accrued liabilities, in exchan ge for $4,662.50 representing the
equivalent of $100 per year for each director and for the President & CEO, for past services
rendered. The board of directors also set the director s fees at $100 per year and the salary of the
President & CEO at $100 per year starting January 1, 2019.
For full details, please visit us at www.platogold.com .
About Plato Gold Corp .
Plato Gold Corp. is a Canadian exploration company lis ted on the TSX Venture Exchange with
projects in Marathon Ontario, Timmins Ontario and Santa Cruz, Argentina.
The Good Hope Niobium Project consists of a total of 19 claims, 263 claim units and 4,208 hectares
in Killala Lake Area and Cairngorm Lake Area Townships, near Marathon Ontario. In May 2017,
Plato signed an option agreement with Rudy Wahl and co-ow ners to acquire 100% interest in the
Good Hope Property.
The Timmins Ontario project includes 4 properties: Guib ord, Harker, Holloway and Marriott in the
Harker/Holloway gold camp located east of Timmins, Onta rio. Plato holds 50% interest in the
Guibord property with the remaining 50% held by Osisko Mining Inc. (“Osisko”). Osisko also
holds 80% interest in the Harker property with Plato holding the remaining 20%.
In Argentina, Plato owns a 75% interest in Winnipeg Minera ls S.A. (“WMSA”), an Argentina
incorporated company. The Lolita Property, held by WMSA, is comprised of a number of
contiguous mineral rights totaling 9,672 hectares. Work has a dvanced on this exploration property
to the point that it is drill-ready or ready to be optioned to a partner.
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 stateme nts”, within the meaning of applicable securities l aws. These statements include, but are not
limited to, statements regarding the,potential mine ralization 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 anti cipate”, or “believes”, or variations of such
words and phrases or state that certain actions, ev ents or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”.
Forward-looking statements are based on the opinion s and estimates of management as of the date such s tatements are made, and they are subject to
known and unknown risks, uncertainties and other fa ctors that may cause the actual results, use of pro ceeds, 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 re source viability, and other risks of the mining ind ustry . Although management of Plato has
attempted to identify important factors that could cause actual results to differ materially from thos e contained in forward-looking statements, there
may be other factors that cause results not to be a s anticipated, estimated or intended. There can be no assurance that such statements will prove to
be accurate, as actual results and future events co uld differ materially from those anticipated in suc h statements. Accordingly, readers should not
place undue reliance on forward-looking statements. The Company does not undertake to update any forw ard-looking statements that are
incorporated by reference herein, whether as a resu lt of new information, future events or otherwise, except in accordance with applicable securities
laws.