Precipitate Gold Closes $6.5 Million Non-Brokered Private Placement Led by Strategic Dominican Investors

Participation in the Offering was led by prominent and strategic Dominican investors, including one of the Dominican Republic's largest institutional investors, Guess Investments Ltd., together with several other well-respected leaders from the country's business and investment communities.

Jeffrey Wilson, President and CEO stated, "We are pleased to close this significant financing, as we welcome important new Dominican institutional partners who are aligning with management in the ongoing pursuit of new mineral discoveries within the Dominican Republic. The sector expertise, strong financial credentials, and natural resource investment experience of these new investors will be invaluable to the Company's ongoing progress and success. Additionally, the proceeds from the Offering provide the Company with significant working capital for expanded exploration efforts and future drill testing of multiple known and emerging targets throughout the Company's project portfolio."

Each Unit consists of one common share of the Company and one-half of one common share purchase warrant, each whole warrant exercisable to acquire one additional common share of the Company at $0.17 per share for 18 months from the date of issuance. All securities issued in connection with the Offering will be subject to resale restrictions for a period of six months from the date of issuance.

Proceeds from the Offering will be used to advance ongoing exploration and project development activities across the Company's Dominican mineral property portfolio, including aggressive ongoing exploration and planned drilling at its Juan de Herrera project, as well as for general working capital purposes.

No finder's fees will be paid in connection with the Offering.

In connection with the Offering, Guess Investments Ltd. is entitled to nominate an appointee to the Company's Board of Directors. In the event all warrants issued to the Dominican investors are exercised, Guess Investments Ltd. will be entitled to nominate one additional member to the Company's Board of Directors, subject to the approval of the existing Board of Directors and compliance with TSX Venture Exchange policies, such second nomination occurring no earlier than 12 months following the closing of the Offering. In the event the combined shareholding of the Dominican investors drops below 15% of the then issued and outstanding shares of the Issuer, the Issuer will be entitled, at its discretion, to replace one of the DR Investor nominees. In the event the combined shareholding of Dominican investors drops below 7.5% of the then issued and outstanding shares, the Issuer will be entitled, at its discretion, to replace the second DR Investor nominee. Such Dominican appointed representation on the Company's Board shall not, at any time, exceed 30%.

About Precipitate Gold:

Precipitate Gold Corp. is a mineral exploration company focused on exploring and advancing its mineral property interests in the Dominican Republic, including its 100% owned Juan de Herrera project located immediately adjacent to GoldQuest Mining's Romero Project, its 100% owned Pueblo Grande project located immediately adjacent to the Pueblo Viejo mine operated by Barrick Mining, and its 100% owned Ponton project located 30km east of the Pueblo Viejo mine. 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.

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

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

"Jeffrey Wilson"

President & CEO

For further information, please contact:

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 release may contain "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward looking information. Generally, forward-looking information may be identified 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 not anticipate", or "believes", or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Precipitate Gold Corp.'s ("Precipitate" or the "Company") current beliefs and is based on information currently available to Company and on assumptions it believes are reasonable. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Precipitate to be materially different from those expressed or implied by such forward-looking information. Specifically, the use of proceeds realized under the Offering may change based on management's assessment of its circumstances, and there is no assurance the Dominican investors will continue to hold their investment in the Company, or maintain Board representation. Such risks and other factors may include, but are not limited to: the exploration concessions may be granted or may be amended on terms not acceptable to the Company, or at all; general business, economic, competitive, political and social uncertainties; the concessions acquired by the Company may not have attributes similar to those of surrounding properties; delay or failure to receive governmental or regulatory approvals; changes in legislation, 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 to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Precipitate does not undertake to update any forward-looking information, except in accordance with applicable securities laws.

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