Plato Gold Corporation - Reports on First Quarter Results

TORONTO, 05/23/13 - Plato Gold Corp. (TSX VENTURE: PGC) ("Plato" or the "Company"), an exploration company with a portfolio of properties in significant gold mining camps in Santa Cruz, Argentina, Northern Ontario and Northern Quebec is pleased to report the three months financial results for fiscal 2013 and 2012 as summarized below:

                                                          Three Months Ended
                                                                 (Unaudited)
                                                   March 31,       March 31,
                                                        2013            2012
                                            --------------------------------

Income                                        $          803  $        7,279
Net loss and comprehensive loss               $      199,689  $       70,563
Loss per common share
  Basic                                       $            -  $            -
  Diluted                                     $            -  $            -
Weighted average number of common shares
 outstanding
  Basic                                          143,591,655     143,591,655
  Diluted                                        143,591,655     143,591,655

For full details, please visit us at www.platogold.com.


About Plato Gold Corp.

Plato is a Canadian gold exploration company listed on the TSX Venture Exchange with exploration projects in the Lolita Property in the province of Santa Cruz, Argentina, Northern Ontario and Northern Quebec.

In Argentina, Plato owns a 75% interest in Winnipeg Minerals S.A., an Argentina incorporated company. The Lolita Property is comprised of a number of contiguous mineral rights totaling 27,857 hectares are held by Winnipeg Minerals S.A. Work has advanced on this exploration property to the point that it is drill-ready or ready to be optioned to a partner.

The Northern Ontario project includes 4 properties: Guibord, Harker, Holloway and Marriott in the Harker/Holloway gold camp located east of Timmins, Ontario. In November 2010, Plato signed an agreement granting St Andrew Goldfields Ltd. the option to earn a 75% interest in the above properties. Currently the Holloway and Marriott properties remain in good standing. In July 2012, Plato sold a 50% interest in the Guibord property to Victory Gold Mines Inc. who amalgamated February 6, 2013 with Northern Gold Mining Inc. In February 2013, Plato sold an 80% interest in the Harker property to Northern Gold Mining Inc.

The Northern Quebec project includes 5 properties: Vauquelin, Vauquelin Pershing, Vauquelin Horseshoe, Hop O'My Thumb and Vauquelin II. All 5 properties are located near Val d'Or, Quebec, comprised of 192 mineral claims, totaling 3,214 hectares.

For additional company information, please visit: www.platogold.com.


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 regarding the,potential mineralization and resources, exploration results, and future plans and objectives. 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: 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. The Company 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.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OF THIS RELEASE.



Contacts:

Plato Gold Corp.
Anthony Cohen, President and CEO
416-968-0608
416-968-3339 (FAX)
info@platogold.com
www.platogold.com