Mr. Jeffrey Wilson reports

BARRICK COMMENCES DRILL PROGRAM AT PRECIPITATE'S PUEBLO GRANDE PROJECT, DOMINICAN REPUBLIC

Barrick Gold Corp. has commenced a diamond drilling program designed to test two distinct, high-priority target areas within Precipitate Gold Corp.'s 100-per-cent-owned Pueblo Grande project, located immediately adjacent to the Pueblo Viejo gold mine operated by Barrick in the Dominican Republic.

The phase III drill program tests targets at both the Pueblo Grande Norte and Pueblo Grande Sur zones within the project. Drilling at the Pueblo Grande Norte zone will follow up on a horizon of favourable alteration related to silica and sulphide hydrothermal brecciation intercepted in Barrick's previous drilling campaigns. Barrick has also mobilized a drill rig to Pueblo Grande Sur to test a blind target associated with chargeability anomalies identified below a limestone and sedimentary rock sequence.

Jeffrey Wilson, Precipitate's president and chief executive officer, stated: "We're pleased to see the commencement of a third phase of drilling at our Pueblo Grande project, as Barrick's geophysical and geochemical work to date within the project's Pueblo Grande Norte and Pueblo Grande Sur zones has delineated priority drill targets. The program is designed to test for postulated high-sulphidation epithermal style gold mineralization concealed at relatively shallow depths to 250 metres, related to northeast-trending structures. We look forward to receipt of assays as results become available."

Barrick's work is part of an earn-in agreement whereby Barrick has the right to earn a 70-per-cent interest in Precipitate's Pueblo Grande project by, among other things, spending $22.0-million (U.S.) in work expenditures and delivering a prefeasibility study by April 14, 2030. Pursuant to an amendment to the earn-in agreement announced by way of the company's news release dated Dec. 4, 2024, Precipitate and Barrick agreed to increase the earn-in agreement's total required work expenditure from the original $10.0-million (U.S.) to $22.0-million (U.S.), representing an increase in expenditures of over 120 per cent.

Full earn-in agreement details can be found on the company's website or within the company's news release dated April 14, 2020, and news release dated Dec. 4, 2024.

About the Pueblo Grande project

The Pueblo Grande project is owned 100 per cent by Precipitate Gold and is located in the Sanchez Ramirez province of the Dominican Republic, immediately adjacent to the Pueblo Viejo mining operation operated by Barrick. Pueblo Grande is contiguous to the Pueblo Viejo mine operated by Barrick and surrounds the Pueblo Viejo mine site on the west, north and east sides, covering about 7,105.73 contiguous hectares.

This news release has been reviewed by Michael Moore, vice-president, exploration of Precipitate Gold, the qualified person for the technical information in this news release under National Instrument 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 Pueblo Viejo mining camp and Tireo gold trend of the Dominican Republic. The company has entered into an earn-in agreement with Barrick Gold, whereby Barrick can earn a 70-per-cent interest in the company's Pueblo Grande project by incurring $22.0-million (U.S.) within 10 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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