Plato Gold Corp Announces Special Meeting and Proposed Share Consolidation

NOT FOR DISTRIBUTION IN THE UNITED STATES.

Plato Gold Corp. (TSX VENTURE:PGC) ("Plato" or the "Company") is pleased to
announce that it has set the date for its Special Meeting of Shareholders (the
"Meeting") as Wednesday, March 14, 2012. At the Meeting, the Company will be
seeking shareholder approval of a special resolution authorizing an amendment to
the Company's articles of amalgamation to consolidate its common shares (the
"Common Shares") on the basis of one (1) post-consolidation Common Share for
every ten (10) pre-consolidation Common Shares (the "Share Consolidation"). In
addition to approval from Plato's shareholders by special resolution at the
Meeting, the Share Consolidation will also be subject to the approval of the TSX
Venture Exchange. 


The principal reasons for the Share Consolidation include management's belief
that, if approved and effected, the Company will benefit from: greater investor
interest; improved trading liquidity; and an ability to raise additional capital
at a higher price per share. The change in the number of issued and outstanding
Common Shares that will result from the Share Consolidation will cause no change
in the capital attributable to the Common Shares and will not materially affect
any shareholder's percentage ownership in the Company, even though such
ownership will be represented by a smaller number of Common Shares. As at the
date hereof, there are an aggregate of 143,591,655 Common Shares issued and
outstanding. It is expected that, upon completion of the Share Consolidation,
there will be an aggregate of approximately 14,359,165 Common Shares issued and
outstanding. 


About Plato Gold Corp.

Plato 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:




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



In Santa Cruz, 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 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: not realizing on the anticipated benefits from the Share Consolidation;
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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