Mr. Anthony Cohen reports

PLATO GOLD COMMENCES DRILL PROGRAM ON MARRIOTT GOLD PROPERTY, MATHESON, ONTARIO

Plato Gold Corp. has commenced a drill program on Marriott gold property in Matheson, Ont. The drill program will consist of 450 metres and two drill holes on exploration targets based on prospective geology and geophysics. The drill program is a follow-up on Plato's airborne magnetic survey using an unmanned aerial vehicle (UAV) in the spring of 2022. The drill holes are located 11 kilometres east of Agnico Eagle's Holt gold mining complex.

Marriott property highlights:

• Located within Abitibi greenstone belt gold mining camp;
• Excellent access -- located on Highway 101;
• Excellent infrastructure -- located 45 kilometres northeast of Kirkland Lake and 130 kilometres east of Timmins.

The proposed drill holes were selected based on geophysics and geology characteristics of Abitibi gold deposits:

• Magnetic, electromagnetic (EM) and gravity anomalies;
• Deformation zone parallel to Porcupine-Destor deformation zone;
• Northeast-southwest-trending fault;
• Same stratigraphic unit as the historic Harker gold mine and Iris gold mine.

The location of the drill hole collars was selected based on geophysics anomalies. The drill hole collars correspond to magnetic high, electromagnetic (EM) high and gravity high. The total magnetic intensity high corresponds to iron-rich tholeiitic basalts lithology unit. The EM and magnetic anomalies can also correspond to sulphide and gold mineralization. The proposed drill holes have the same regional gravity high signature as the historic Harker gold mine and Iris gold mine.

"Plato is pleased to commence drilling on one of our well-located gold properties in the Harker/Holloway gold camp. All of our properties have excellent infrastructure nearby as well as either currently operating or historic mining operations," said Anthony Cohen, president and chief executive officer.

The Marriott property is located within the Abitibi greenstone belt, which is an established gold mining camp. The geology of the drill hole locations is within a south deformation zone parallel to the Porcupine-Destor deformation zone along the north edge of the property. The 2022 UAV drone magnetic survey first vertical derivative identified northeast-southwest-trending crosscut faults near the proposed holes. These faults are possible transportation pathways for gold-bearing fluids. Within the Abitibi greenstone belt, gold mineralization tends to be associated with the Porcupine-Destor fault, splay faults and crosscut faults.

The regional geophysics second-derivative magnetic high indicates that the proposed holes are on a southwest-trending stratigraphic unit that continues to the Harker gold mine (gold and silver), the Iris mine (gold and tungsten) and the Howey-Cochenour-Williams occurrence (gold, copper, lead and zinc). The Harker gold mine is located 14.7 kilometres southwest of the proposed drill holes. In 1986 to 1988, New Strategic Metals, in joint venture with Silverhawk Resources Ltd, completed underground exploration in the No. 1 shaft area by a ramp driven down to the 500-foot level at the Harker gold mine. Underground exploration resulted in 6,000 tons at 0.115 ounce gold per ton and 10,500 tons at 0.051 ounce gold per ton being stockpiled and later processed at the Holt-McDermont mine mill (Ontario Mineral Inventory; MDI 32D05NW00159).

Qualified person

Dr. Julie Selway, PhD, PGeo, principal geologist for J.J. Minerals Inc., supervised the preparation of the scientific and technical disclosure in this news release. Dr. Selway is the qualified person as defined by National Instrument 43-101.

Marriott property

The Marriott property is located 66 kilometres east of Matheson in Marriott and Hollway townships, Ontario. The east side of the property is coincident with the Ontario-Quebec provincial border. The property consists of 142 cell claims and covers an area of approximately 2,728 hectares and is 8.0 kilometres by 6.7 kilometres in size. The claims are held 100 per cent by Plato Gold and are in good standing. The Marriott property is located in the Timmins-Kirkland Lake area of the Abitibi greenstone belt. The Abitibi greenstone belt is known for its abundance of lode gold deposits, which occur in deformed and metamorphosed terranes along the major structures: the Porcupine-Destor fault zone (PDF) and the Larder Lake/Cadillac fault zone (LLCD).

About Plato Gold Corp.

Plato Gold is a Canadian exploration company traded on the TSX Venture Exchange, the OTC Markets and the Frankfurt Stock Exchange with projects in Timmins, Ont., Marathon, Ont., and Santa Cruz, Argentina.

The Timmins, Ont., project includes four properties -- Guibord, Harker, Holloway and Marriott -- in the Harker/Holloway gold camp, located east of Timmins, Ont., with a focus on gold.

In Argentina, Plato owns a 95-per-cent interest in Winnipeg Minerals SA (WMSA), an Argentina-incorporated company that holds a number of contiguous mineral rights totalling 9,672 hectares with potential for gold and silver.

The Good Hope niobium project consists of approximately 5,146 hectares in the Killala Lake Area and Cairngorm Lake Area townships, near Marathon, Ont., with the primary target being niobium.

The Pic River platinum group metal (PGM) project consists of 2,247 hectares in the Foxtrap Lake and Grain township near Marathon, Ont., 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.

We seek Safe Harbor.