St Andrew Goldfields Ltd. Completes Drill Program on Guibord Property Optioned From Plato Gold

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 is pleased to
announce that St Andrew Goldfields Ltd. (TSX:SAS) recently completed 900m of NQ
diamond drilling in two holes on the Plato Gold Corp., Guibord Property east of
Matheson, Ontario. The property is located approximately 1.0 km along geological
strike of the Victory Gold Inc., Gold Pike Mine (see Victory Gold Press Release
Dated September 14, 2011) and northeast of the producing St. Andrew Goldfield's
Hislop Mine. 


"I am pleased to see the recent drill program completed on the Guibord
Property," said Anthony J. Cohen, President and CEO. "With our drill program at
Nordeau East earlier this year (see February 1, 2011 press release) and St.
Andrew Goldfield's work on the Holloway and Guibord properties in the Timmins
Gold Camp, we are advancing both programs in Timmins, Ontario and Val d'Or,
Quebec. As well, work is advancing on our Lolita Project in Santa Cruz,
Argentina with very encouraging results to date (see October 20, 2011 press
release)."


Typically, the Guibord Property is underlain by interbedded mafic volcanics,
ultramafic volcanics and sedimentary rock trending southeasterly and dipping 45
degrees to the south. The Guibord Property stratles the Destor Porcupine Fault
Zone and gold mineralization is typically associated with alteration and pyrite
in proximity to it.


Drilling completed to date on the Guibord Property intersected moderate to
strongly altered mafic volcanics with varying amounts of disseminated sulfides.
Assay results are pending in the fourth quarter.


About Plato Gold Corp.

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


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.
(TSX:SAS) the option to earn a 75% interest in the above properties.


The Northern Quebec project includes 7 properties: Nordeau Bateman, Vauquelin,
Vauquelin Pershing, Vauquelin Horseshoe, Pershing Denain, Hop O'My Thumb and
Vauquelin II. All 7 properties are located near Val d'Or, Quebec. In November
2010, Plato signed an agreement granting Threegold Resources Inc. (TSX
VENTURE:THG) the option to earn a 75% interest in two of the above properties.


Plato is in the advanced exploration stage on the Nordeau West site with a NI
43-101 compliant gold resource reported on March 12, 2009. Highlights of the
Nordeau West mineral resource update include:




     indicated resources of 30,212 oz Au on average grade of 4.17 g/t and   
     225,342 tonnes; and                                                    
     inferred resources of 146,315 oz Au on average grade of 4.09 g/t and   
     1,112,321 tonnes.                                                      



In Argentina, Plato holds 75% of interest in the Lolita Property comprised of a
number of contiguous mineral rights totaling 27,857 hectares. Work is advancing
on this property with drill targets by year end. 


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.
Plato Gold (TSXV:PGC)
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