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Plato Gold Reports on Second Quarter Results and Grant of
Options
TORONTO, ONTARIO--(Marketwire - Aug. 27, 2008) -
NOT FOR DISTRIBUTION IN THE UNITED STATES.
Plato Gold Corp. (TSX VENTURE:PGC) ("Plato") an exploration company
with a portfolio of properties in significant gold mining camps in
Northern Ontario, Northern Quebec, and Santa Cruz, Argentina is
pleased to report the six and three months financial results for
fiscal 2008 and 2007 as summarized below:
Six Months Ended Three Months Ended
---------------- ------------------
(Unaudited) (Unaudited)
June 30, June 30, June 30, June 30,
2008 2007 2008 2007
---------------------------------------------------
Revenue $ 6,919 $ 6,638 $ 1,921 $ 2,248
Income (Loss) for the
period $ 180,201 $ 30,100 $(204,705) $(168,100)
Income (Loss) per
common share
Basic $ - $ - $ - $ -
Diluted $ - $ - $ - $ -
Weighted average number
of common shares
outstanding during the
period
Basic 53,629,412 40,314,240 53,668,560 41,825,899
Diluted 53,629,412 40,314,240 53,668,560 41,825,899
For full details, please visit us at
www.platogold.com.
Plato is pleased to announce that in accordance with the April 1,
2008 agreement with Agoracom, the company will issue 250,000 options
effective August 26, 2008, to purchase common shares ("options") of
Plato at a price of $0.10. The term of the options shall be two (2)
years from date of issue with 25% vesting immediately and 25% every
four months thereafter in accordance with Plato's stock option plan.
About Plato Gold Corp.
Plato Gold Corp. is a Canadian junior gold exploration company
listed on the TSX Venture Exchange. Plato has Canadian exploration
projects in Northern Ontario, Northern Quebec and the Lolita
Property in the province of Santa Cruz, Argentina. The Northern
Ontario project includes 5 properties: Guibord, Harker, Harker-Garrison,
Holloway and Marriott in the Harker/Holloway gold camp located east
of Timmins, Ontario. The Northern Quebec project includes 7
properties: Nordeau Bateman, Vauquelin, Vauquelin Pershing,
Vauquelin Horseshoe, Pershing Denain, Hop O'My Thumb and Once Upon a
Time. All 7 properties are located near Val d'Or, Quebec and Plato
is in the early stage of exploring these projects. In Argentina, the
Lolita Property is comprised of 3 contiguous concessions and initial
work has been started on this property. For additional company
information, please visit:
www.platogold.com.
For all Plato Gold Corp. investor relations needs, investors are
asked to visit the Plato Gold Corp. IR Hub at
http://www.agoracom.com/ir/platogold where they can post
questions and receive answers within the same day, or simply review
questions and answers posted by other investors. Alternatively,
investors are able to e-mail all questions and correspondence to
pgc@agoracom.com where they
can also request addition to the investor e-mail list to receive all
future press releases and updates in real time.
Forward Looking Statements
This news release contains "forward-looking statements", within the
meaning of applicable securities laws. These statements include, but
are not limited to, statements concerning the business, operations
and financial performance and condition of Plato. Forward-looking
statements include, but are not limited to, statements with respect
to the benefits of the offering transaction. Generally, these
forward-looking statements can be identified by the use of forward-looking
terminology such as "plans", "expects" or "does not expect", "is
expected", "budget", "scheduled", "estimates", "forecasts", "intends",
"anticipates" or "does not anticipate", or "believes", or variations
of such words and phrases or state that certain actions, events or
results "may", "could", "would", "might" or "will be taken", "occur"
or "be achieved". Forward-looking statements are based on the
opinions and estimates of management as of the date such statements
are made, and they are subject to known and unknown risks,
uncertainties and other factors that may cause the actual results,
use of proceeds, level of activity, performance or achievements of
Plato to be materially different from those expressed or implied by
such forward-looking statements, including but not limited to risks
related to: raising less than the required amount; not realizing on
the anticipated benefits from the offering transaction or not
realizing on such anticipated benefits within the expected time
frame; risks related to exploration; actual resource viability, and
other risks of the mining industry . Although management of Plato
has attempted to identify important factors that could cause actual
results to differ materially from those contained in forward-looking
statements, there may be other factors that cause results not to be
as anticipated, estimated or intended. There can be no assurance
that such statements will prove to be accurate, as actual results
and future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking statements. Plato does not undertake to
update any forward-looking statements that are incorporated by
reference herein, whether as a result of new information, future
events or otherwise, except in accordance with applicable securities
laws.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news release.
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