Mr. Anthony Cohen reports

PLATO GOLD ANNOUNCES CLOSING OF LOAN FINANCING FOR FIRST EVER DRILL PROGRAM AT LOLITA PROJECT, SANTA CRUZ, ARGENTINA

Further to the press release dated May 1, 2025, Plato Gold Corp. has updated the terms of and closed its previously announced loan financing.

Certain lenders have agreed to provide Plato with a loan of up to $1.05-million (U.S.), with one lender providing a loan of $50,000 (U.S.) and the other lender, being 1338823 Alberta Inc., providing a loan of $1-million (U.S.) in such principal amounts to be advanced to the company by such lender as agreed from time to time. The loan proceeds shall be used to finance the company's drill program at the gold-silver Lolita project, Santa Cruz, Argentina, and for working capital and general corporate purposes. The loans are unsecured and will bear interest at 7 per cent per annum and become due and payable on June 10, 2026, unless repaid earlier at the option of Plato. The loans do not contain the right for the outstanding principal amount to be converted into common shares of Plato, as was previously contemplated in the company's May 1, 2025, press release.

1338823 Alberta Inc., a company over which Anthony Cohen, president and a director of Plato, and James Cohen, a director of Plato, exercise control and direction, entered into a loan agreement with Plato to lend up to $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. The company announces a correction to its press release dated May 1, 2025, pursuant to which it was announced that one of the lenders was Mr. Cohen, in his personal capacity. In fact, it is 1338823 Alberta that has made the applicable loan, a company over which Mr. Cohen exercises control and direction, as indicated above.

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.

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, an Argentine 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 metals 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.