Mr. Jeffrey Wilson of Precipitate reports

PRECIPITATE ACQUIRES 100% INTEREST IN GOLD AND SILVER PROPERTY ADJOINING BARRICK AND GOLDCORP'S PUEBLO VIEJO MINE IN DOMINICAN REPUBLIC

Precipitate Gold Corp. has entered into a purchase-sale agreement with Everton Resources Inc., whereby, subject to closing, Precipitate will acquire a 100-per-cent interest in three of Everton's Dominican Republic exploration concessions, including two highly prospective concessions (the Pueblo Grande property) adjoining Barrick and Goldcorp's world-class Pueblo Viejo gold-silver mine, one of the largest gold mining operations in the world.

Highlights of new property acquisition:

• 100-per-cent interest in a strategic land position adjoining Barrick's Pueblo Viejo mine (largest active gold mining operation in Latin America; fourth-largest gold mining operation in the world*);
• Two historical drill zones (Tres Bocas and La Lechoza) with impressive near-surface gold and silver intercepts warranting follow-up;
• Substantial areas of underexplored advanced argillic alteration adjacent to and on strike from the Pueblo Viejo open pits;
• Extensive drill data set from over 200 historical drill holes totalling approximately 29,500 metres;
• Situated in an active and mining-friendly district within 10 kilometres of three operating mine sites;
• Select highlight historical trench samples (from La Lechoza zone):
  • 11.3 grams per tonne gold and 310 grams per tonne silver over 18 metres (Linear Gold, 2015);
  • 6.65 grams per tonne gold and 18.8 grams per tonne silver over 22 metres, including 22.1 grams per tonne gold and 48.6 grams per tonne silver over four metres;
  • 1.13 grams per tonne gold over 18 metres;
  • 4.35 grams per tonne gold over 10 metres.

Select reported historical highlight drill intercepts are shown in the attached table.

Metres    Gold    Silver     Zinc          Zone               Everton news source      
          (g/t)     (g/t)      (%)

23.4 m    4.76      23.0              La Lechoza        Jan. 27, 2011 (DDH APV-30)   
10.6 m    2.96     104.9      9.4     Tres Bocas         May 17, 2006 (DDH TBM-07)   
27.0 m    2.46      26.7              La Lechoza       Feb. 2, 2011 (DDH APV11-02) 
7.5 m     2.56      47.2      4.4     La Lechoza      Dec. 20, 2010 (DDH APV10-13) 
10.5 m    2.29      65.0      3.4     La Lechoza     April 13, 2011 (DDH APV11-30) 

All intercepts commence at less than 20-metre drill depth and are drill 
intercept widths. The true thickness of the zones has yet to be determined.

Jeffrey Wilson, president and chief executive officer of Precipitate, stated: "We are pleased with this new acquisition as it positions Precipitate with an impressive new landholding flush with targets adjacent to one of the largest gold-silver mining operations in the world, in the heart of the Dominican Republic's most active and mining-friendly district. This acquisition represents much more than an area play for the company as the project's geological environment, compelling geophysical signatures and impressive prior results make this an exciting new addition to our project portfolio. Applying our in-country experience and technical expertise, which includes highly regarded board members Quinton Hennigh, Alistair Waddell and Adrian Fleming, should allow Precipitate to reinterpret the data and commence systematic programs to test previously unrecognized opportunities within this property package. Our team's ongoing interaction and dialogue with the country's decision makers and industry peers has reinforced our confidence in the outlook for the jurisdiction such that we believe this acquisition presents a unique and timely opportunity for the company and its shareholders to be positioned for long-term growth. Pueblo Grande and our existing Juan de Herrera project, adjacent to Goldquest Mining's Romero, combine to establish Precipitate as one of the Dominican Republic's leading explorers, poised to build near- and long-term value through strategic district-scale landholdings and ongoing work programs."

Michael Moore, Precipitate's vice-president of exploration, stated: "The Pueblo Grande property offers near-term discovery potential immediately adjacent to Barrick's Pueblo Viejo mine, one of the world's biggest gold and silver operations. The sizable historical property data set gives us an excellent starting point to benefit from past work and to immediately focus on priority gold and base metal prospects identified through geophysics, geology, geochemistry and past drill intercepts with limited follow-up. Our exploration plan will focus on high-priority zones for immediate fieldwork and drill target testing. The target-rich project has year-round access and well-developed infrastructure, allowing for consistent, systematic programs and steady future news flow."

Two concessions, comprising a portion of the Pueblo Grande property, are contiguous to the Pueblo Viejo mine operated by Barrick Gold through a joint venture between Barrick (60 per cent) and Goldcorp (40 per cent). The third concession (the Ponton project) acquired in this transaction is located approximately 30 kilometres east of Pueblo Grande in a similarly favourable and prospective geological environment. The company has also submitted exploration concession applications for an additional strategic land position connecting the two main Everton concessions along the eastern boundary of the Pueblo Viejo mine to form the newly consolidated Pueblo Grande property. As a result, Precipitate's new land position adjoins Barrick's Pueblo Viejo mine site on the west, north and east sides, covering about 9,863 contiguous hectares. See the company's website for the property location illustration maps.

Highlights of Pueblo Grande exploration potential

The area to the west of the Pueblo Viejo mine is interpreted to be a high-level advanced argillic lithocap alteration-type environment which lacks significant known gold-silver mineralization but has the same highly anomalous trace element suite that typifies the adjacent Pueblo Viejo deposit. The lithocap alteration is dominated by pervasive silica-pyrophyllite-pyrite with numerous and widespread irregular pods, veins and veinlets of massive hematitized magnetite. Magnetite, silicification and various pathfinder elements associated with Pueblo Viejo-style high-sulphidation epithermal gold-silver-copper mineralization offer key exploration vectors into and through the extensive altered lithocap zone. Past drill testing appears to have focused mainly on coincident geochemical and induced polarization chargeability anomalies on the eastern extents of the lithocap, largely overlooking the sizable magnetic-high anomalies within the central lithocap region, leaving much of this target area untested. The prospective lithocap alteration within Precipitate's concession boundaries, west and northwest from the Pueblo Viejo mine pits, measures roughly five kilometres by three kilometres, with the coincidental prospective magnetic-high anomaly measuring approximately 2.5 kilometres by three kilometres, representing a sizable and highly prospective yet essentially untested target for initial work programs and possible near-term drill testing.

Additional magnetic anomalies (both high and low signatures) within the property package, specifically to the southeast of Pueblo Viejo, will undergo future geological mapping and sampling. Previous drilling has also encountered at least two additional key areas of mineralization within the property (namely La Lechoza and Tres Bocas) evidencing the project's potential to host multiple areas of interest and several styles of mineralization. The size and scale of the property package, combined with its proximity to one of the largest gold mining operations in the world, make this a compelling project for extensive and continuing exploration.

Highlights of acquired Pueblo Grande data set

In acquiring the Pueblo Grande property (previously named the Ampliacion Pueblo Viejo (APV), Mermejal, Jobo Claro, Loma Mate and others) and the nearby Ponton property from Everton, the company acquires valuable associated data sets that include:

• Two high-level historically drilled gold-base metal discovery zones: Tres Bocas and La Lechoza;
• Drill hole database, including 158 diamond drill holes and 62 shallow RAB (rotary air blast) drill holes, totalling about 29,500 metres and 10,600 core rock pulp samples;
• Helicopter-borne magnetic-GeoTEM geophysical survey (729 kilometres of flight lines at 100-metre spacing);
• Numerous ground geophysical surveys, including magnetics, induced polarization and max-min electromagnetics;
• Approximately 18,050 surface geochemical samples (combined stream sediment, rock, soil, trench);
• Extensive surface geological mapping at various detail levels;
• A large highly prospective lithocap area of advanced argillic alteration located directly to the west of the Pueblo Viejo mine.

Highlights of Barrick's Pueblo Viejo gold-silver mine:

• Largest active gold mining operation in Latin America and fourth-largest mining operation in the world in 2017*;
• High-sulphidation epithermal gold-silver deposit;
• 13.4 million ounces gold, 74.4 million ounces silver, and 298.5 million pounds copper (measured and indicated mineral resource from 169.5 million tons grading 2.46 grams per tonne gold, 13.66 grams per tonne silver and 0.08 per cent copper)**;
• Additional 3.6 million ounces gold, 16.0 million ounces silver and 87.2 million pounds copper in the inferred category;
• Annual production of approximately one million ounces gold at $525 (U.S.) all-in-sustaining cost per ounce***;
• $4.3-billion (U.S.) project infrastructure investment.

* Based on 2017 production figures; Thomson Reuters and stats released by gold miners.

** March, 2018, National Instrument 43-101 report.

*** Based on annual 2017 production; Barrick website.

Pueblo Grande purchase-sale agreement terms

As consideration for 100-per-cent title to Everton's three Dominican exploration concessions totalling 9,583 hectares, and extensive geochemical, geophysical, geological and drill data, Precipitate will deliver to Everton the following upon closing:

• $25,000 cash;
• Seven million common shares of Precipitate subject to resale legend restrictions for up to three years, expiring as follows:
  • 10 per cent (700,000 shares) with resale legend expiring six months from the date of issue;
  • 10 per cent (700,000 shares) with resale legend expiring 12 months from the date of issue;
  • 10 per cent (700,000 shares) with resale legend expiring 18 months from the date of issue;
  • 15 per cent (1,050,000 shares) with resale legend expiring 24 months from the date of issue;
  • 15 per cent (1,050,000 shares) with resale legend expiring 30 months from the date of issue;
  • 40 per cent (2,800,000 shares) with resale legend expiring 36 months from the date of issue

The closing date for the transaction will occur at five business days after the later of: (i) the date the TSX Venture Exchange accepts the transaction; and (ii) the date the Dominican Republic Ministry of Energy and Mines accepts and completes full legal title transfer of the three exploration concessions to Precipitate. The agreement is subject to a 45-day due diligence period, from the date of execution of the agreement, whereby Precipitate can complete a satisfactory review of project technical and corporate documents and related materials. The company has 90 days to facilitate completion of the official transfer of legal title of the concessions, after which the company can elect to extend the closing date by consecutive 30-day periods by delivering 100,000 common shares of the company (deducted from the payment shares noted herein) for each 30-day extension. If the closing does not occur by March 30, 2019, either party may elect to terminate the agreement.

Additional payment stock conditions include: (i) should Everton elect to sell or dispose of any of the payment shares and in each instance, it will give Precipitate at least 10 business days advance notice, so as to allow the company to assist in finding a purchaser for such shares; and (ii) the selective legend removal of various escrow payment share release restrictions should the company's common shares trade at or above 20 cents, 40 cents and 60 cents per common share for 10 consecutive trading days on the TSX-V (based on a volume-weighted average price). Pre-existing advanced-stage or mining-related commitments to a third party include: (i) a sliding-scale net smelter royalty ranging from 1 per cent, where gold is under $1,000 (U.S.) per ounce, to 2 per cent, where gold is over $1,400 (U.S.) per ounce; and (ii) a sum of cash or shares in the event a resource of one million gold equivalent ounces or greater are delineated at certain grades and in various indicated and inferred categories.

Expanding the Precipitate gold project portfolio

The acquisition of Pueblo Grande complements the company's existing Juan de Herrera project situated in the western part of the Dominican Republic, adjacent to the country's most prominent development-stage project, Goldquest Mining's Romero project, establishing the company with substantial landholdings in the country's two most significant gold and copper camps. Importantly, Precipitate's complete project portfolio now provides shareholders valuable exposure to three major mining/exploration gold camps with landholdings immediately adjacent to, and contiguous with three prominent operations: the world-class Pueblo Viejo project operated by Barrick (central Dominican Republic), the Tireo-Romero project operated by Goldquest (west Dominican Republic) and the Upper Hyland River-3 Aces project operated by Golden Predator (southeast Yukon, Canada). All of these Precipitate gold assets are owned 100 per cent by the company, free of any underlying vendor payments or work commitments and with limited holding costs.

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

About Precipitate Gold Corp.

Precipitate Gold is a mineral exploration company focused on exploring and advancing its mineral property interests in the Tireo gold trend and Pueblo Viejo camp of the Dominican Republic. The company also maintains assets in southeast Yukon, specifically the company's Reef property located immediately adjacent to Golden Predator's 3 Aces project in the Upper Hyland River area. Precipitate is also actively evaluating additional high-impact property acquisitions with the potential to expand the company's portfolio and increase shareholder value.

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