Plato Gold Reports 2026 Semi-Annual Results, Announces Loan Extensions and Board Update

Toronto, Aug. 20, 2026 (GLOBE NEWSWIRE) -- Plato Gold Corp. (TSX-V: PGC) (OTCQB: NIOVF) (Frankfurt: 4Y7 or WKN: A0M2QX) (“Plato” or the “Company”), an exploration company with a portfolio of properties in Northern Ontario and Santa Cruz, Argentina, reports its unaudited financial results for the six months ended June 30, 2026 and 2025, as summarized below.
As previously announced on May 26, 2026, the Company is relying on the exemptions provided by Coordinated Blanket Order 51-933 – Exemptions to Permit Semi-Annual Reporting for Certain Venture Issuers and has adopted semi-annual financial reporting. Accordingly, the financial results below are presented for the six-month periods ended June 30, 2026 and 2025, and no separate three-month results are presented.

		Six Months Ended
		(Unaudited)
	June 30,		June 30,
	2026		2025
Income	$             11,334		$                      -
Net Income (Loss)	$        1,957,872		$      (1,189,034)
Comprehensive Income (Loss)	$        1,967,150		$      (1,195,228)
Income (Loss) per common share - basic and diluted	$                0.01		$              (0.01)
Weighted average number of common shares outstanding - basic and diluted	230,665,717		230,665,717

Loan Extensions

Following approval by the Board of Directors on August 19, 2026, the Company entered into second amendment agreements extending the maturity date of its two outstanding promissory notes, which matured on June 10, 2026 and had not been repaid, to February 19, 2027.

The outstanding principal balances remain C$1,498,500 under the promissory note held by 1338823 Alberta ULC and C$69,050 under the promissory note held by Paul Lhotka. The notes remain unsecured, bear interest at 7% per annum and are neither convertible into nor repayable in securities.

Under the amendments, the lenders waived the payment defaults arising from the June 10, 2026 maturity and any related entitlement to interest at the 10% default rate through August 19, 2026. All other material terms remain unchanged. Interest continues to accrue at 7% per annum without interruption. No securities were issued, and no bonus, fee or other consideration was paid, in connection with the amendments.

1338823 Alberta ULC is a corporation over which Anthony Cohen, President and a director of Plato, and James Cohen, a director of Plato, exercise control and direction. Accordingly, the amendment with 1338823 Alberta ULC constitutes a “related party transaction” under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”).

Anthony Cohen and James Cohen disclosed their interests and abstained from voting on the amendment. The disinterested directors determined that the amendment is on reasonable commercial terms that are not less advantageous to Plato than terms obtainable from an arm’s-length lender. The Company is therefore relying on the exemption from minority shareholder approval in section 5.7(1)(f) of MI 61-101. In making that determination, the disinterested directors considered, among other things, that the concurrent extension of the Company's arm's-length loan was agreed on the same substantive terms and that the waiver of default-rate interest operates in the Company's favour. The amendments are not a transaction for which MI 61-101 requires a formal valuation.

The Company will file a material change report in respect of the amendments. As the amendments were completed before the filing of the material change report, the report was not filed at least 21 days before completion of the related-party transaction. The shorter period was reasonable and necessary because the final terms were not settled until shortly before execution and the Company considered it appropriate to complete the extensions promptly to regularize the matured notes.

Passing of Director Ernie J. Marcotte

The Company also announces with sadness the passing of Ernie J. Marcotte, P.Eng., FCIM, who passed away on June 14, 2026 and had served as a director of Plato since June 2024.

Mr. Marcotte’s career in the mining industry spanned approximately 60 years. He began his career with Denison Mines and subsequently held progressively senior operational and management positions with East Malartic Gold Mines, Upper Canada Mines, Falconbridge Nickel Mines, Pamour Inc., MacIsaac Mining & Tunnelling at INCO’s Shebandowan operation, and North American Palladium. As Vice-President, Mining Operations and General Manager at North American Palladium’s Lac des Iles Mine, he helped advance the commissioning and development of its mining and milling operations. He later held senior technical and operational positions with SNC-Lavalin, Mustang Minerals and Rubicon Minerals, and also served as a director of Frontier Lithium.

A graduate of the Haileybury School of Mines, Mr. Marcotte was a Professional Engineer, a Fellow and Life Member of the Canadian Institute of Mining, Metallurgy and Petroleum, and a founding member of the Canadian Mineral Processors. He twice served as Chair of the Canadian Mineral Processors and received its Mill Man of the Year Award in 1994, Lifetime Achievement Award in 2013 and Ray MacDonald Volunteer Award in 2014.

“Ernie devoted his career to Canada’s mining industry and brought a wealth of practical, technical and operational experience to Plato’s Board,” said Anthony Cohen, President and Chief Executive Officer. “On behalf of the Board and management, I would like to express our sincere condolences to Ernie’s family and friends. We are grateful for his service to Plato and for the experience and perspective he shared with the Company.”

Following Mr. Marcotte’s passing, Plato’s Board consists of five directors, and its standing committees remain duly constituted. The Company is completing the related filings with the TSX Venture Exchange and under applicable corporate law.

For full details, please visit the Company’s website at www.platogold.com or the Company’s profile on SEDAR+ at www.sedarplus.ca.

About Plato Gold Corp.

Plato Gold Corp. is a Canadian exploration company traded on the TSX Venture Exchange, OTC Markets, and Frankfurt Exchange with projects in Marathon, Ontario and Santa Cruz, Argentina, and a remaining mineral property interest in Timmins, Ontario.

The Company’s remaining Timmins, Ontario mineral property interest consists of a 20% interest in the Harker property, located in the Harker/Holloway gold camp east of Timmins, Ontario, and prospective for gold.

In Argentina, Plato owns a 95% interest in Winnipeg Minerals S.A. (“WMSA”), an Argentina incorporated company that holds a number of contiguous mineral rights totalling 9,672 hectares with potential for gold and silver.

The Good Hope Niobium Project consists of approximately 6,035 hectares in the Killala Lake Area and Cairngorm Lake Area Townships, near Marathon, Ontario, with the primary target being niobium.

The Pic River Platinum Group Metals (PGM) Project consists of 2,352 hectares in Foxtrap Lake and Grain Township, near Marathon, Ontario. The property includes 19 claims that are contiguous to the western boundary of Generation Mining's Marathon PGM project and is located on strike to Generation Mining's Sally deposit. 

For additional company information, please visit www.platogold.com.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

For further information, please contact:

Anthony Cohen
President and CEO
Plato Gold Corp.
T: 416-968-0608
F: 416-968-3339
Info1@platogold.com
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, concentrations of pay minerals that may offset operating costs and future plans and objectives.  These forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information.  Risks that could change or prevent these statements from coming to fruition include but are not limited to: changing costs for mining and processing; increased capital costs; the timing and content of upcoming work programs; geological interpretations based on drilling that may change with more detailed information; potential process methods and mineral recoveries assumption based on limited test work and by comparison to what are considered analogous deposits that with further test work may not be comparable; testing of our process may not prove successful and even it tests are successful, the economic and other outcomes may not be as expected; the availability of labour, equipment and markets for the products produced; and conditions changing such that the minerals on our property cannot be economically mined, or that the required permits cannot be obtained.  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 forward-looking information contained herein is given as of the date hereof and the Company assumes no responsibility to update or revise such information to reflect new events or circumstances, except as required by law.