PGC Plato Gold Corp

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, announces that it intends to amend
the term of 2,000,000 share purchase warrants (the "Warrants") which are
currently outstanding, subject to regulatory approval.


Each Warrant had an eighteen month term and entitled the purchaser to acquire
one common share for $0.15 until February 2, 2008. These warrants will be
amended such that each Warrant entitles the holder to acquire one common share
for $0.15 for a further six months expiring on August 2, 2008. The Warrants were
issued as part of a private placement which closed on August 2, 2006 pursuant to
which 4,000,000 Units were sold at $0.10 per Unit for gross proceeds of
$400,000. Each Unit consisted of one common share of the Corporation and
one-half of one Warrant. Insiders purchased 625,000 Units and they own 312,500
Warrants representing 15.6% of the outstanding Warrants.


About Plato Gold Corp.

Plato Gold Corp. ("Plato") is a Canadian junior gold exploration company listed
on the TSX Venture Exchange. Plato has Canadian exploration projects in Northern
Ontario and 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 6
properties: Nordeau Bateman, Vauquelin, Vauquelin Pershing, Vauquelin Horseshoe,
Pershing Denain and Hop O'My Thumb. All 6 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.


Cautionary Statements

This news release contains "forward-looking statements", within the meaning of
the United States Private Securities Litigation Reform Act of 1995 and similar
Canadian legislation, 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 and
option 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, 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 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, except in accordance with applicable
securities laws.

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