Mr. Jeffrey Wilson reports

PRECIPITATE COMMENCES DRILLING AT MOTHERLODE GOLD PROJECT IN NEWFOUNDLAND, CANADA

Precipitate Gold Corp. has started a diamond drilling program at the company's Motherlode gold project within the Burin peninsula of southern Newfoundland, Canada.

The drill campaign calls for a minimum of 2,000 metres of diamond drilling from up to 22 permitted drill platforms within the project's prospective Motherlode zone. Multiple holes can be drilled from each platform, allowing for a significant number of possible holes and flexibility to adjust drill targeting as the program progresses. The program is designed to test multiple induced polarization (IP) geophysical chargeability high anomalies located within the Motherlode structural corridor, with planned hole depths ranging from 70 m to 300 m.

Jeffrey Wilson, Precipitate's president and chief executive officer, stated: "We are excited to announce the commencement of this first phase of drilling at our Motherlode zone in southern Newfoundland. Our groundwork to date has successfully delineated favourable geological shear structures and coincident IP geophysical anomalies which are potential hosts for gold mineralization. Drilling by prior operators reported gold mineralization within the Motherlode zone but failed to intersect any of the newly identified chargeability anomalies identified in our recent IP survey. The potential to drill test those anomalies now offers Precipitate an exciting opportunity at discovery."

The primary focus of the drilling program will be testing the recently delineated IP geophysical chargeability high anomalies located within the Motherlode structural corridor where elevated chargeability readings reflect elevated sulphide concentration related to probable gold mineralization. The estimated three-kilometre-long northeast-trending Motherlode structure corridor hosts structurally related orogenic-gold-style mineralization, where gold-enriched quartz veins-stockworks are associated with an anastomosing series of quartz-sericite shears and faults with subvertical to steep northwest dips, containing low pyrite and arsenopyrite sulphide concentrations. The Motherlode zone hosts the project's most notable gold mineralization and related surface colour gossan identified to date, with rock grab sample values up to 25 grams per tonne (g/t) gold and historical drill results including 3.5 m at 1.4 g/t gold.

The company's website has additional information and illustrations of recent and historical Motherlode project data.

This news release has been reviewed by Michael Moore, vice-president, exploration, of Precipitate Gold, the qualified person for the technical information in this news release under National Instrument 43-101 standards.

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 Pueblo Viejo mining camp and Tireo gold trend of 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.

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