Plato Gold Receives Payment from St Andrew on Option Agreement
Plato Gold Corp. (PGC.V), an exploration company with a portfolio of properties in significant gold mining camps in Northern Ontario, Northern Quebec, and Santa Cruz, Argentina, today reported that in accordance with the Option Agreement of November 8, 2010, St Andrew Goldfields Ltd. (SAS.TO) has made a payment of $40,000 on the second anniversary of the agreement with respect to the Holloway claims and completed the required exploration expenditures of $200,000.
St. Andrew is maintaining the Option Agreement on the Holloway and Marriott properties. Cash payment and exploration expenditures for the Marriott claims are due on the third anniversary.
St Andrew holds 10% interest in the 16 claims known as the Guibord Property, with 40% owned by Victory Gold and Plato retaining control of the remaining 50%.
St Andrew is 3.4% higher, at 45.5 cents. More than 67,000 shares have been traded.
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