Mr. Anthony Cohen reports

PLATO GOLD CORP. ANNOUNCES THE CLOSING OF THE SALE OF TIMMINS-AREA PROPERTIES TO MAYFAIR GOLD CORP.

Plato Gold Corp. has closed the transaction announced on April 2, 2026, with Mayfair Gold Corp. pursuant to which Mayfair has acquired Plato's interests in the Guibord, Marriott and Holloway properties, all located in the Timmins, Ont., area, for total cash consideration of $2.5-million. The cash consideration has been placed into escrow, as further described in this news release.

The properties consist of mineral claims and mining leases located along and adjacent to the Destor-Porcupine structural corridor in the Timmins gold district. The transaction allows Plato to monetize non-core assets and focus its resources on advancing its remaining exploration portfolio.

Anthony J. Cohen, founder and chief executive officer of Plato Gold, commented: "Plato Gold Corp. is very pleased to conclude this transaction with Mayfair Gold Corp. In monetizing these long-held assets, Plato will now have the ability to concentrate on our flagship Good Hope niobium project as well as evaluate other opportunities. I will be attending the project Blue Critical Minerals Conference in Washington, D.C., next month, and look forward to meeting with various leaders in the defense and critical minerals industry."

Properties included in the transaction

Plato has sold the following interests to Mayfair:

• Guibord property (50-per-cent interest):
  • The Guibord property consists of 16 mineral claims and two mining leases covering approximately 275 hectares. The property is located southeast of the Timmins mining camp and benefits from highway access.
• Marriott property (100-per-cent interest):
  • The Marriott property consists of 142 contiguous mining claims covering approximately 2,728 hectares and is accessible via Highway 101. The property is an early stage exploration asset within the broader Timmins mining district.
• Holloway property (100-per-cent interest):
  • The Holloway property consists of 10 contiguous mining claims covered by a mining lease, totalling approximately 156 hectares, and is also accessed via Highway 101.

Transaction terms

Mayfair has paid the total amount of the cash consideration to a mutually agreed upon escrow agent in order to acquire Plato's interests in the properties. The cash consideration will be released from escrow to Plato in stages as follows:

• 50 per cent upon completion of the transfer of the Marriott property;
• 25 per cent upon completion of the transfer of the Holloway property;
• 25 per cent upon completion of the transfer of the Guibord property.

The transfers are all expected to be completed within six weeks of closing.

Regulatory matters

The transaction constitutes a reviewable disposition under the policies of the TSX Venture Exchange. Plato received conditional acceptance from the exchange on April 13, 2026. Final acceptance of the exchange will be sought following closing of the transaction and submission of all required postclosing documentation to the cxchange.

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 the Harker property 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 S.A. (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 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 (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.