Mr. Anthony Cohen reports

PLATO GOLD COMPLETES TERMS FOR THE ACQUISITION FOR THE PIC RIVER PGM-COPPER PROJECT AND PROVIDES EXPLORATION UPDATE

Plato Gold Corp. has completed terms for the 100-per-cent acquisition of the Pic River platinum-group-metal-copper property in Northwestern Ontario, from owner Dr. Rudy Wahl.

The property is located 21 kilometres northwest of Marathon and is contiguous with the western boundary of Generation Mining Ltd.'s Marathon palladium-copper project. As per the agreement with Dr. Wahl, Plato has made a total cash payment of $125,000, issued 1.65 million 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 Jan. 28, 2020).

Generation Mining is in the final stages of development related to its Marathon palladium-copper-platinum-gold-silver deposit adjacent to Plato's Pic River property. The Marathon deposit currently hosts a measured and indicated resource of 188.6 million tonnes at 0.58 gram per tonne Pd, 0.20 per cent Cu, 0.19 g/t Pt, 0.07 g/t Au and 1.73 g/t Ag; and an inferred resource of 1.7 million tonnes at 0.37 g/t Pd, 0.16 per cent Cu, 0.14 g/t Pt, 0.07 g/t Au and 1.25 g/t Ag (Generation Mining website, March 10, 2024).

A recent press release (March 7, 2024) by Generation Mining indicates it has 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 three kilometres 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 its 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 Nov. 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 Nov. 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, BSc, PGeo, a qualified person (QP) for the purposes of NI 43-101.

About Plato Gold Corp.

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

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