PGC Plato Gold Corp

NOT FOR DISTRIBUTION IN THE UNITED STATES.

Plato Gold Corp. ("Plato") (TSX VENTURE:PGC) 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 announce the extension
of the original August 8, 2006 Option Agreement (the "Option Agreement") with
Globex Mining Enterprises Inc. ("Globex") regarding 100 percent interest in the
Nordeau East and Nordeau West gold deposits and adjoining claims in Vauquelin
Township, Quebec. This extension is subject to approval by the TSX Venture
Exchange.


"The recent drilling results in conjunction with earlier exploration campaigns
illustrate a positive continuation of gold mineralization both laterally and at
depth, therefore we're pleased with the terms and conditions of the amendment to
the original agreement," states Anthony Cohen, President & CEO of Plato.


Plato is pleased to announce that the Option Agreement has been amended to
extend the exercise date to December 31st, 2012. Other material amendments to
the Option Agreement, as amended, are as follows:


1. The remaining required cash payment of $250,000 under the Option Agreement
will now be payable in 2 equal installments on or before December 31st of each
of 2008 and 2009. In addition, Plato will be required to make further cash
payments of $75,000 and $100,000 on or before December 31st, 2010 and 2011,
respectively.


2. In order to maintain the option, Plato will be required to issue to Globex a
maximum of 2,000,000 Plato shares by installments of 500,000 Plato shares on or
before December 31st of each of 2008, 2009, 2010 and 2011. Shares to be issued
pursuant to the Option Agreement, as amended, will not be adjusted downward in
the event of a share consolidation by Plato prior to issuance to Globex.


3. The time limits for required expenditures under the Option Agreement have
been extended to as late as December 31st, 2011 and the deadline for completion
of the remaining Option Agreement requirements, including delivery of a bankable
feasibility study, has been extended to December 31st, 2012.


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

About Globex Mining Enterprises Inc.

Globex, Plato's partner on the Nordeau claims, is an exploration and royalty
company with over 80 diversified mineral properties and royalties all located in
North America. Globex specializes in the recognition and acquisition of
properties of merit and subsequent optioning of these properties of value such
as in the case of the Nordeau gold claims. Two of Globex's projects are now in
production and 6 others are in preproduction or due diligence.


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, 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.


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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