Plato Gold Announces the Signing of an Option Agreement with Rudy Wahl for the Pic River PGM (Platinum Group Metals) Project - Seite 3

 

Total payment of 1,650,000 common shares

1. 300,000 common shares to Optionors within 15 days of TSXV approval of the Pic River PGM Option Agreement
2. 450,000 common shares to Optionors on or before the 1^st anniversary of the TSXV approval of the Pic River PGM Option Agreement
3. 300,000 common shares to Optionors on or before the 2^nd, 3^rd and 4^th anniversary of the TSXV approval of the Pic River PGM Option Agreement
    

Combined exploration expenditures of $160,000 on of the Pic River PGM Option Agreement

1. $40,000 on or before the 1^st anniversary of the TSXV approval of the Pic River PGM Option Agreement
2. $120,000 on or before the 4^th anniversary of the TSXV approval of the Pic River PGM Option Agreement

In addition, the Pic River PGM Option Agreement includes

1. A 3% Net Smelter Return Royalty to Optionors, with first right of refusal for 50% buy back for $1,500,000.
2. A 3% Gross Overriding Royalty from the production of diamonds only to Optionors, with first right of refusal for 50% buy back for $1,500,000.
3. Performance Shares of 1,000,000 common shares to Optionors, if a NI 43-101 compliant resource exceeding 1 million ounces of platinum equivalent, and an additional 1,000,000 common shares to Optionors, upon a positive bankable feasibility study.
4. 10% of the sale price or option price in cash or shares to Optionors, if the Pic River PGM Project claims are sold or optioned to a third party.

About Plato Gold Corp.

Plato Gold Corp. is a Canadian exploration company listed on the TSX Venture Exchange with projects in Marathon Ontario, Timmins Ontario and Santa Cruz, Argentina.

The Good Hope Niobium Project consists of a total of 254 claims, consisting of 227 Single Cell Mining Claims and 27 Boundary Cell Mining Claims, and covers an area of approximately 5,100 hectares in Killala Lake Area and Cairngorm Lake Area Townships, near Marathon Ontario.  Plato holds 100% interest in the Good Hope Niobium Property.      

The Pic River Platinum Group Metals (PGM) Project consists of a total of 105 claims, consisting of 82 Single Cell Mining Claims and 23 Boundary Cell Mining Claims, and covers an area of approximately 2126 hectares in Foxtrap Lake and Grain Township, Thunder Bay Mining District, in Ontario.

The Timmins Ontario project includes 4 properties: Guibord, Harker, Holloway and Marriott in the Harker/Holloway gold camp located east of Timmins, Ontario.  Plato holds 50% interest in the Guibord property with the remaining 50% held by Osisko Mining Inc. (“Osisko”).  Osisko also holds 80% interest in the Harker property with Plato holding the remaining 20%.