PGC Plato Gold Corp

NOT FOR DISTRIBUTION IN THE UNITED STATES.

Plato Gold Corp. (TSX VENTURE:PGC) ("Plato" or the "Company") an exploration
company with a portfolio of properties in significant gold mining camps in
Northern Ontario, Northern Quebec, and Santa Cruz, Argentina announced today the
completion of the second closing of its non-brokered private placement offering
(the "Offering") previously announced on June 19, 2008 and July 31, 2008.
Pursuant to the Offering, the Company issued 2,500,000 flow-through units (the
"Flow-Through Units") consisting of one common share which qualifies as a "flow
through share" for purposes of the Income Tax Act (Canada) and one non-flow
through common share purchase warrant at a price of $0.10 per Flow-Through Unit
for gross proceeds of $250,000. The Company has also received TSX Venture
Exchange approval for the extension of the Offering to September 19, 2008.


Each warrant partially comprising the Flow-Through Units shall be exercisable to
acquire one non-flow through common share of the Company for a period of two
years from the date of issuance thereof at an exercise price of $0.15 per share.
The warrant terms provide that if the Company's shares close on the TSX Venture
Exchange for 20 consecutive trading days at a price of $0.25 per share or higher
during the exercise period, the Company may accelerate the expiry time of the
warrants to 30 calendar days from the date upon which notice is provided by the
Company to the holder thereof.


The proceeds from the sale of the Flow-Through Units will be used by the Company
for exploration work on its properties in the Val d'Or area in Quebec. Final
approval of the Offering is subject to receipt of all required regulatory
approvals, including approval of the TSX Venture Exchange. All of the securities
issued pursuant to this Offering are subject to resale restrictions for a period
expiring 4 months from the date hereof.


Mr. Anthony Cohen, President and CEO of Plato Gold, stated "Plato Gold is
pleased to continue our exploration work in the Val d' Or region of Quebec. We
are committed to our projects and are working to reach new milestones in our
corporate growth."


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.


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.

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