Mr. Jeffrey Wilson reports

PRECIPITATE ANNOUNCES APPOINTMENT OF NEW CHIEF FINANCIAL OFFICER

Precipitate Gold Corp. has appointed Stephen Sulis as the company's chief financial officer, effective Sept. 30, 2022.

Mr. Sulis currently works as the CFO for a number of TSX Venture Exchange and Canadian Securities Exchange-listed companies, predominately in the resource sector, both in Canada and around the globe. His professional experience includes financial reporting for exploration and mining companies, implementation of accounting software, various equity financings, and implementation of internal control policies. In addition to his accounting experience, Mr. Sulis previously worked in the financial sector with TD Canada Trust. Mr. Sulis holds a bachelor's degree in business administration as well as an advanced diploma in international business studies.

Mr. Sulis is replacing Vivien Chuang, who has notified the company that she will be pursuing other opportunities. The company would like to thank Ms. Chuang for her years of service to the company. Management and the board of directors wish her the best in her future endeavours.

In addition, the company has granted stock options to certain officers and consultants to purchase up to 400,000 common shares. Each option is exercisable to acquire one common share of Precipitate at a price of 6.5 cents until Sept. 30, 2027. The options will vest in accordance with the company's stock option plan and are subject to TSX Venture Exchange acceptance.

About Precipitate Gold Corp.

Precipitate Gold is a mineral exploration company focused on exploring and advancing its mineral property interests in Newfoundland, Canada, and the Dominican Republic. The company has entered into an earn-in agreement with Barrick Gold Corp., whereby Barrick can earn a 70-per-cent interest in the company's Pueblo Grande project by incurring $10-million (U.S.) within six years and producing a qualifying prefeasibility study. Precipitate is also actively evaluating additional high-impact property acquisitions with the potential to expand the company's portfolio and increase shareholder value, in other favourable jurisdictions.

We seek Safe Harbor.