PRG:CC - Barrick Identifies New Gold-in-Soil Anomalies and Advances Drill Targeting at Precipitate's Pueblo Grande Project Dominican Republic

(TheNewswire)

Vancouver, B.C. – June 10, 2024 – TheNewswire – Precipitate Gold Corp. (the “Company” or“Precipitate”) (TSXV: PRG, OTCQB: PREIF) is pleased to announcethat Barrick GoldCorporation (“Barrick”) has provided theCompany with a 2024-Q1exploration update regarding ongoing explorationand target delineation within Precipitate's 100% owned Pueblo GrandeProject (the “Project”). Barrick’s exploration is part of anearn-in agreement whereby Barrick has the right to earn a 70% interestin the Project.

Pueblo Grande Norte Zone : Drill Target Refinement

• Barrick is currently conducting a detailed groundmagnetic survey. Subject to results, additional ground geophysicalsurveys may follow as a prelude to a follow up Phase III drillingprogram within the Zone.

• As previously reported, latest drilling in this regionby Barrick encountered encouraging favourable permeable mafic volcanictuff lithologies which are variably affected by high-sulfidation typealteration with several events of strong sulfide disseminations,similar to observations at the neighbouring Pueblo ViejoMine.

• It is anticipated that results from latest drillingcombined with newly generated geophysical data will provide the basisfor delineating specific targets for a potential next phase of diamonddrilling in Pueblo Grande Norte

Pueblo Grande Sur Zone: NewGold-in-Soil Anomalies andOngoing Exploration

• Soil sample laboratory data received to date (20% ofthe multi-element results are pending) reveals several new early-stagegold-in-soil anomalies located on west and central parts of PuebloGrande Sur; these gold anomalies are often coincident with importantsilver, arsenic, antimony and thallium pathfinders.

• The most sizable soil anomaly measures about 2.8km x1.0km (as defined by 90 th percentile values 13 ppb gold) and is opento the west, trending in the vicinity of Barrick’s Zambranaexploration target, which is located southeast of the Pueblo ViejoMine Area.

• Barrick’s ongoing exploration work for 2024 for thePueblo Grande Sur will delineate and refine potential drill-worthytargets in this emerging area of the Project, with Pueblo Grande Surdiamond drill permits expected during 2024.

See accompanyingproperty map figure for location details.

Jeffrey Wilson, Precipitate's President and CEO stated," We are pleased to see Barrick continue toadvance and explore multiple areas within Precipitate’s PuebloGrande project. Ongoing drill target refinement in advance of follow up drilling at Pueblo Grande Norte furthersthe potential for discovery on Precipitate’s ground immediately westof Pueblo Viejo’s existing mining pits. Meanwhile, the extensivegeochemical sampling coverage conducted by Barrick within PuebloGrande Sur, and resulting new anomalies, evidences the project’songoing potential to host additional drill-worthy zones throughout theproject. We look forward to Barrick’s ongoing advancement of theproject under the terms of our Earn-in agreement.”

Click Image To View Full Size

Figure 1: Pueblo Grande Location Map

In accordance with the Earn-in Agreement betweenPrecipitate and Barrick, as announced April 14, 2020, Barrick can earna 70% interest in Precipitate’s Pueblo Grande project by incurring aminimum US$10.0 million in qualifying Work Expenditures and deliveringa qualifying pre-feasibility study prior to the sixth anniversary ofthe entering into of the Agreement (see the Company’s news release dated April14, 2020 for full Earn-In Agreementdetails).

The Company’s website has additionalinformation, maps and figures of recent and historical Pueblo Grandeproject data.

For reference: g/t = grams pertonne, Au = gold, m = metres, millivolts per volt = mv/v, IP = inducedpolarization

This news release has been reviewed by Michael Moore,Vice President, Exploration of Precipitate Gold Corporation, theQualified Person for the technical information in this news releaseunder NI 43-101 standards.

About Precipitate Gold:

Precipitate Gold Corp. is a mineral exploration company focused onexploring and advancing its mineral property interests in the PuebloViejo Mining Camp and Tireo Gold Trend of the Dominican Republic. TheCompany has entered into an Earn-In Agreement with Barrick GoldCorporation, whereby Barrick can earn a 70% interest in theCompany’s Pueblo Grande Project by incurring US$10M within six yearsand producing a qualifying Pre-feasibility Study. Precipitate is alsoactively evaluating additional high-impact property acquisitions withthe potential to expand the Company's portfolio and increaseshareholder value, in other favourable jurisdictions.

Additional information can be viewed at the Company’s website www.precipitategold.com .

On Behalf of the Board of Directorsof Precipitate Gold Corp.,

“Jeffrey Wilson”

President & CEO

For further information, pleasecontact:

Tel: 604-558-0335     Toll Free: 855-558-0335 investor@precipitategold.com

Neither the TSX Venture Exchange nor its Regulation Service Provider(as that term is defined in the policies of the TSX Venture Exchange)accepts responsibility for the adequacy or accuracy of this release.

This press releasemay contain "forward-looking information" within the meaningof applicable Canadian securities legislation. All statements, otherthan statements of historical fact, included herein are forwardlooking information. Generally, forward-looking information may beidentified by the use of forward-looking terminology such as"plans", "expects" or "does not expect","proposed", "is expected", "budget","scheduled", "estimates", "forecasts","intends", "anticipates" or "does notanticipate", or "believes", or variations of such wordsand phrases, or by the use of words or phrases which state thatcertain actions, events or results may, could, would, or might occuror be achieved. This forward-looking information reflects PrecipitateGold Corp.’s (“Precipitate” or the “Company”) currentbeliefs and is based on information currently available to Company andon assumptions it believes are reasonable. Forward-looking informationis subject to known and unknown risks, uncertainties and other factorsthat may cause the actual results, level of activity, performance orachievements of Precipitate to be materially different from thoseexpressed or implied by such forward-looking information. Such risksand other factors may include, but are not limited to: the explorationconcessions may not be granted on terms acceptable to the Company, orat all; general business, economic, competitive, political and socialuncertainties; the concessions acquired by the Company may not haveattributes similar to those of surrounding properties; delay orfailure to receive governmental or regulatory approvals; changes inlegislation, including environmental legislation affecting mining;timing and availability of external financing on acceptable terms;conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. Although Precipitate has attempted toidentify important factors that could cause actual results to differmaterially from those contained in forward-looking information, theremay be other factors that cause results not to be as anticipated,estimated or intended. Accordingly, readers should not place unduereliance on forward-looking information. Precipitate does notundertake to update any forward-looking information, except inaccordance with applicable securities laws.

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