Plato Gold Corp. announced that it has signed a binding agreement of purchase and sale dated July 8, 2024 with Rudolf Wahl
and Mike Dorval (Wahl Group) to acquire (Acquisition) a 100% interest in forty-two (42) unpatented cell claims in Killala Lake Area Townships, Thunder Bay Mining District, in the Province of Ontario (the "Claims" or the "Ruffle Lake Property") The Ruffle Lake Property is readily accessible via an all-weather road 35 km north from the Trans Canada Highway 17. The Claims are contiguous to the Company's Good Hope Niobium Project. The geology in this area is dominated by the Prairie Lake Carbonatite Complex which lies immediately south of the Ruffle Lake Property and the Company's adjoining Good Hope Property. In general, these Carbonatite Complexes are uncommon and known to host rare earth elements and critical minerals such as niobium, phosphate and yttrium currently in demand for EV (Electric Vehicle) and other Clean Energy technology. Pursuant to the Agreement, Plato will acquire a 100% interest in the Claims, subject to the Royalty in consideration for a payment of CAD 20,000.00 and the issuance of 2,000,000 common shares of the Company to the Wahl Group. The Wahl Group shall maintain a 3.0% net smelter return royalty from all commercial production on Claims. The Company shall have the right to purchase 2.5%) of the 3.0% Royalty at any time for CAD 2,000,000. Closing of the Acquisition is anticipated to occur on or around July 9, 2024, and is subject to the prior approval of the TSX Venture Exchange. The Common Shares to be issued in connection with the Wahl Agreement will be subject to a statutory hold period of four months and a day from the date of issuance.