Plato Gold Announces Amendment to Globex Option Agreement

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 an amendment, effective as of December 31, 2011, of the original August
8, 2006 Option Agreement and as amended on December 12, 2006, October 26, 2007,
April 22, 2008 and September 27, 2010, with Globex Mining Enterprises
Inc.("Globex") on the Nordeau Bateman properties in Val d'Or, Quebec (the
"Option Agreement").


The Option Agreement has been amended to extend all the outstanding timelines by
six months. Specifically, commitments due December 31, 2011 have been extended
to June 30, 2012, and commitments due December 31, 2012 have been extended to
June 30, 2013. All other terms of the Option Agreement and subsequent amendments
remain the same. This extension is subject to approval by the TSX Venture
Exchange.


"Plato remains active in advancing all our projects in Ontario, Quebec and
Argentina," said Anthony Cohen, President and CEO. "We look forward to updating
our loyal shareholders on our financing and exploration work for 2012." 


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

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.
the option to earn a 75% interest in the above properties. Currently three
properties Guibord, Holloway and Marriott remain in good standing.


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. 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 a drill program anticipated for 2012.


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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