Mr. Anthony Cohen reports

PLATO GOLD CORP. CLOSES INITIAL $55,000 TRANCHE OF CRITICAL-MINERAL FLOW-THROUGH PRIVATE PLACEMENT

Plato Gold Corp. has closed an initial tranche of its previously announced non-brokered critical mineral flow-through private placement. The company issued, effective Sept. 29, 2026, 1.1 million flow-through common shares at five cents per FT share for gross proceeds of $55,000. No warrants were issued. The offering was announced on Sept. 9, 2026, for aggregate gross proceeds of up to $150,000, and may be completed in one or more additional closings.

Each FT share is intended to qualify as a flow-through share within the meaning of the Income Tax Act (Canada). The company intends to use the gross proceeds of the offering to incur eligible Canadian exploration expenses that qualify as flow-through critical mineral mining expenditures, as those terms are defined in the tax act in connection with exploration activities at the company's Pic River platinum group metal project near Marathon, Ont. The company intends to incur these expenditures on or before Dec. 31, 2026, and to renounce them to subscribers with an effective date no later than Dec. 31, 2026, under the general renunciation rule.

The FT shares issued under this initial closing are subject to a statutory hold period of four months and one day and may not be traded before Jan. 30, 2027, except as permitted under applicable securities legislation. The TSX Venture Exchange has conditionally accepted the offering. Final acceptance remains pending.

No finder's fee or commission was paid in connection with this initial closing.

Insider participation and Multilateral Instrument 61-101

Anthony Cohen, president, chief executive officer and a director of the company, subscribed personally for 600,000 FT shares for $30,000.

Following the issuance, Mr. Cohen beneficially owns, or exercises control or direction over, 57,738,311 common shares, representing approximately 24.91 per cent of the 231,765,717 common shares outstanding, before giving effect to options to acquire an additional 3.5 million common shares. Mr. Cohen was already a control person of the company prior to the offering.

Mr. Cohen's subscription constitutes a related-party transaction within the meaning of Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The company is relying on the exemptions from the formal valuation and minority shareholder approval requirements in sections 5.5(a) and 5.7(1)(a) of MI 61-101, respectively, because neither the fair market value of the FT shares issued to Mr. Cohen, nor the consideration paid by him exceeds 25 per cent of the company's market capitalization, calculated in accordance with MI 61-101.

Mr. Cohen disclosed the nature and extent of his interest in the offering, withdrew from the meeting for the entirety of the board's discussion and vote on his participation, and did not vote on the matter. The disinterested directors approved his participation on the same material terms as the other subscriber in this tranche.

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 Marathon, Ont., and Santa Cruz, Argentina, and a remaining mineral property interest in Timmins, Ont.

The company's remaining Timmins, Ont., mineral property interest consists of a 20-per-cent interest in the Harker property, located in the Harker/Holloway gold camp east of Timmins, Ont., and prospective for gold.

In Argentina, Plato owns a 95-per-cent interest in Winnipeg Minerals SA, 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 the Killala Lake area and the Cairngorm Lake area townships, near Marathon, Ont., with the primary target being niobium.

The Pic River platinum group metal project consists of 2,352 hectares in Foxtrap Lake and Grain township, near Marathon, Ont. The property includes 19 claims that are contiguous to the western boundary of Generation Mining's Marathon platinum group metal project and is located on strike to Generation Mining's Sally deposit.

We seek Safe Harbor.