12:22 PM EDT, 03/20/2024 (MT Newswires) -- Plato Gold Corp. ( NIOVF ) an exploration company with a portfolio of properties in Northern Ontario and Santa Cruz, Argentina, announced Wednesday it has completed terms for the acquisition of the Pic River PGM-Copper Property in Northwestern Ont., from owner Rudy Wahl.

The property is located 21 km northwest of Marathon and is contiguous with the western boundary of Generation Mining Limited's Marathon Palladium-Copper Project.

As per the agreement with Dr. Wahl, Plato has made a total cash payment of $125,000, issued 1.65 million Plato common shares, and by completing exploration expenditures in excess of $250,000, has fulfilled the minimum exploration expenditure requirement of $160,000.

Generation Mining is in the final stages of development related to their Marathon Pd-Cu-Pt-Au-Ag Deposit adjacent to Plato's Pic River Property.

Generation Mining indicates they have initiated a diamond drilling exploration program targeting known deposits and prospects of copper along the main trend west and north of the Marathon Deposit. This includes work on the Sally Deposit (copper) located within 3 km of the northeast boundary of Plato's Pic River property.