Mr. Anthony Cohen reports

PLATO GOLD ANNOUNCES PREPARATIONS FOR FIRST EVER DRILL PROGRAM AT LOLITA PROJECT, SANTA CRUZ, ARGENTINA

Preparations are advancing for the first-ever drill program at Plato Gold Corp.'s gold-silver Lolita project, Santa Cruz, Argentina.

Representatives from Plato and its subsidiary in Argentina, Winnipeg Minerals S.A., met with representatives from the government of the Province of Santa Cruz at the Prospectors and Developers Conference (PDAC) in Toronto in early March. The Secretariat of Mining of Santa Cruz is encouraging new exploration projects to feed the existing pipeline of production. Previously, Plato had submitted studies and documentation constituting an updated environment impact assessment report. The Secretariat of Mining of Santa Cruz approved the report in late March, 2025, and Plato is now authorized to conduct a diamond drilling campaign. Santa Cruz Province is the largest producer of precious metals in Argentina with exports values at $1.789-billion (U.S.) in 2024 (1).

In parallel, Plato began talks with drilling, camp and geological contractors to undertake the planned work. Contractors have been selected and the process of signing formal contracts is under way.

In conjunction with the financing of the drill program, Plato has entered into loan agreements, whereby it will borrow an aggregate principal amount of $1.05-million (U.S.). The loans are unsecured and will bear interest at 7 per cent per annum, and will become due and payable one year from the date of issuance unless repaid earlier at the option of Plato. At the option of the lenders, the loans may be convertible into common shares of Plato at the closing price of Plato's common shares on the trading day prior to the maturity date or the date of any early repayment of the principal amount at the option of Plato, subject to a minimum allowable conversion price of five cents per common share. A portion of the proceeds from the loans are also expected to be used for working capital and general corporate purposes.

The principal amount of the loans is expected to be advanced to the company as soon as approval of the TSX Venture Exchange for the loan transactions is received. The securities issued and issuable pursuant to the loan transactions will be subject to a four-month-and-one-day hold period pursuant to applicable securities laws.

Anthony Cohen, president and a director of Plato, has entered into a loan agreement to lend $1-million (U.S.) to Plato, which constitutes a related party transaction for the purposes of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company is relying upon exemptions from the formal valuation and minority shareholder approval requirements of MI 61-101 in connection with the related party transaction on the basis that the fair market value of the loan is not more than $2.5-million. The company did not file a material change report more than 21 days before the anticipated closing date of the loan transaction as the details had not been settled at that time.

Intentions are to commence drilling in the southern hemisphere fall (May, 2025) so that drilling can be completed before the southern winter arrives. Plato plans to drill about 10 diamond drill holes at the Panza, Espalda and Corazon targets, with lengths of approximately 200 to 400 metres. The targets comprise high-level, expressions of low-sulphidation, epithermal vein systems with strong pathfinder anomalies of arsenic, antimony and mercury looking for the precious metal level in the system in the subsurface.

Lolita has never been drill tested or even been explored for precious metals, prior to Plato Gold's work. However, significant resources of precious and base metals are present at Pinguino project of Unico Silver Ltd., adjoining Lolita, and new drilling by Unico at Sierra Blanca suggests that gold-silver resources may be developed there too. Unico Silver reports 92 million ounces of silver equivalent resources on its Cerro Leon project (combining Pinguino and nearby properties).

Plato looks forward to periodically updating shareholders as the plans to drill test Lolita advance.

Dr. Paul G. Lhotka, PGeo, is the qualified person as defined in National Instrument 43-101, who has reviewed and approved the technical content in the news release.

(1) Per promotional materials distributed by the provincial government of Santa Cruz as of March, 2025.

About Plato Gold Corp.

Plato Gold is a Canadian exploration company traded on the TSX Venture Exchange, OTC (over-the-counter) markets and 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, 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 6,035 hectares in 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 2,352 hectares in 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.