Mr. Jeffrey Wilson reports

PRECIPITATE RE-COMMENCES WORK AND IDENTIFIES NEW GOLD ZONES AT 100% OWNED JUAN DE HERRERA PROJECT, DOMINICAN REPUBLIC

Precipitate Gold Corp. has initiated fieldwork and data review at its 100-per-cent-owned Juan de Herrera project in the Dominican Republic. Preliminary results from this latest work have identified eight new mineralized anomalies outlined by elevated gold and/or base metal values in soil sample results.

Precipitate has commenced various programs of field, desktop and laboratory work along with the review and analysis of existing data. As reported by way of a company news release dated Sept. 14, 2020, prior to reducing work programs in 2017, the company collected over 17,000 individual soil samples detailed as 25-metre-by-50-metre spacings within multiple known areas of interest throughout the project. Over 14,000 of these soil samples were previously analyzed with a hand-held X-ray fluorescence scanner, which led to the identification of approximately 8,000 samples showing elevated base metal and pathfinder elements, therefore warranting full laboratory analysis.

Analytical results from this project-wide sampling program have identified eight priority zones of elevated gold and/or base metals (copper, lead and zinc) in soil anomalies, and has also refined the extents of several notable pre-existing soil anomalies at the Southeast, Peak and Melchor zones. These newly delineated zones are Ginger Ridge North, CN, CN 2, CN 3, CdN, CdN 2, CdN 3 and GM. Early field observations of various surface rocks (float and outcrop) have led the company to prioritize three zones for immediate follow-up exploration, those being CN, CdN and GM zones.

The soil anomaly locations align with the dominant northwest-southeast regional stratigraphic and mineralized trends, demonstrating the extraordinary relative size and tenor of these new anomalies, having similarity to others within the regional Tireo gold camp. Low-cost soil sampling is a proven, effective and efficient vectoring tool for identifying prospective volcanogenic massive sulphide and epithermal styles of mineralization in the Tireo gold camp.

The company will follow up on these latest results by implementing a program of groundwork within these new zones to conduct more detailed mapping and sampling to better examine and understand these zones and refine the continuing potential of each zone. Results from this planned work will be reported as they become available.

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

About Precipitate Gold Corp.

Precipitate is a mineral exploration company focused on exploring and advancing its mineral property interests in 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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