Precipitate Re-Commences Work and Identifies New Gold Zones at 100% Owned Juan de Herrera Project, Dominican Republic

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 September 14, 2020, prior to reducing work programs in 2017, the Company collected over 17,000 individual soil samples on grid parameters as 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 ("XRF") 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 VMS (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 ongoing potential of each zone. Results from this planned work will be reported as it becomes available.

The Company's website has additional information, maps and figures of recent and historical Pueblo Grande project data.

For reference: g/t = grams per tonne, Au = gold, m = metres,

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

About Precipitate Gold:

Precipitate Gold Corp. 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% interest in the Company's Pueblo Grande Project by incurring US$10M within six years and producing a qualifying Pre-feasibility 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.

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. Such risks and other factors may include, but are not limited to: the exploration concessions may not be granted on terms 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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