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Plato Gold Corp. Announces the Closing of the Sale of Timmins-Area Properties to Mayfair Gold Corp.
TORONTO, Ontario, April 16, 2026 (GLOBE NEWSWIRE) -- Plato Gold Corp. (TSX-V:  PGC ) (OTCQB:...
About this update from Plato Gold Corp.
[{"type":"text","content":"Plato Gold Corp. Announces the Closing of the Sale of Timmins-Area Properties to Mayfair Gold Corp.\nTORONTO, Ontario, April 16, 2026 (GLOBE NEWSWIRE) -- Plato Gold Corp. (TSX-V: PGC) (OTCQB: NIOVF) (Frankfurt: 4Y7 or WKN: A0M2QX) (“Plato” or the “Company”) announces that it has closed the transaction (the “Transaction”) annouced on April 2, 2026 with Mayfair Gold Corp. (“Mayfair”) pursuant to which Mayfair has acquired Plato’s interests in the Guibord, Marriott and Holloway properties (collectively, the “Properties”), all located in the Timmins, Ontario area, for total cash consideration of C$2.5 million (the “Cash Consideration”). The Cash Consideration has been placed into escrow, as further described in this news release. The Properties consist of mineral claims and mining leases located along and adjacent to the Destor–Porcupine structural corridor in the Timmins gold district. The transaction allows Plato to monetize non‑core assets and focus its resources on advancing its remaining exploration portfolio. Anthony J. Cohen, Founder and Chief Executive Officer of Plato Gold Corp., commented: “Plato Gold Corp. is very pleased to conclude this transaction with Mayfair Gold Corp. In monetizing these long-held assets, Plato will now have the ability to concentrate on our flagship Good Hope Niobium Project as well as evaluate other opportunities. I will be attending the Project Blue Critical Minerals Conference in Washington, D.C. next month, and look forward to meeting with various leaders in the defense and critical minerals industry.” Properties Included in the Transaction Plato has sold the following interests to Mayfair: Guibord Property (50% interest)The Guibord Property consists of 16 mineral claims and two mining leases covering approximately 275 hectares. The property is located southeast of the Timmins mining camp and benefits from highway access. Marriott Property (100% interest)The Marriott Property consists of 142 contiguous mining claims covering approximately 2,728 hectares and is accessible via Highway 101. The property is an early‑stage exploration asset within the broader Timmins mining district. Holloway Property (100% interest)The Holloway Property consists of 10 contiguous mi...