Mr. Jeffrey Wilson reports

PRECIPITATE APPOINTS FORMER GOLDQUEST PRESIDENT & CEO ALISTAIR WADDELL TO THE BOARD OF DIRECTORS

Precipitate Gold Corp. has appointed Alistair Waddell to the company's board of directors.

Mr. Waddell is a geologist with over 20 years of diverse resource industry experience, including senior roles with both junior and senior mining companies. Mr. Waddell was one of the founders and past president and chief executive officer of Goldquest Mining Corp., and was instrumental in Goldquest's initial foray into the Dominican Republic. Mr. Waddell and Goldquest's other founders were the first to propose the Cretaceous Tireo volcanic belt of the western Dominican Republic could be as prospective as contemporaneous rocks in the eastern Dominican Republic and other parts of the Caribbean basin. Goldquest's groundbreaking regional exploration laid the foundation for the more recent discovery of the Romero deposit and the heightened interest in the Tireo gold belt, where Precipitate is currently active with its Juan de Herrera project. Mr. Waddell's knowledge and experience in the region bring invaluable new guidance as the company's work programs progress. In addition, Mr. Waddell brings a significant network of capital markets contacts and the ability to introduce the company to potential new investors.

Jeffrey Wilson, Precipitate president and CEO, states: "We are very pleased to have Alistair join the company. His exceptional industry experience and talents will greatly complement our technical team and our ongoing work programs within the Tireo gold belt. Additionally, Mr. Waddell's recent tenure with Kinross, evaluating properties throughout the Americas, will provide increased guidance and expertise should the company seek to expand its landholdings outside its current jurisdictions. We expect Mr. Waddell's expertise to bring immediate and ongoing benefits to the company and its shareholders."

Most recently, Mr. Waddell was vice-president of greenfields exploration for Kinross Gold Corp. During his nearly six years at Kinross, Mr. Waddell served in several senior roles prior to his appointment as vice-president of greenfields exploration. Those prior roles include vice-president of global epithermal gold exploration, regional director of exploration South America and director of exploration (Ecuador and Colombia). Throughout his career, Mr. Waddell has lived and worked as an expatriate in Australia, Bolivia, Venezuela, Peru, Ecuador, Chile and the Dominican Republic.

We seek Safe Harbor.