Precipitate Provides Drilling and Exploration Update From Juan de Herrera Project

VANCOUVER, BC - Precipitate Gold Corp. reported an update on exploration and drilling programs underway at its 100% owned Juan de Herrera project in the Dominican Republic. The Ginger Ridge Phase 2 diamond drilling program has suspended for the Christmas holidays and will resume in January 2017. Four holes have been completed (GR16-07 to GR16-10), while the completion of a fifth hole (GR16-11) has been paused until resumption of drilling in the new year. A total of 1,240 meters of core have been drilled to date and more than 1,000 samples have been submitted for laboratory analysis. The Company expects to report analytical results for the initial four holes in January 2017.

Drill holes completed in this opening portion of the drill program have been positioned at step-outs of up to 150 meters from the 2014 discovery hole (Hole 5) aimed at 1. testing the continuity of mineralization along strike to the north and south of Hole 5; and 2. testing discrete induced polarization (IP) chargeability high anomalies identified by recent pre-drilling geophysical surveying.

Core recoveries in the current program have been good, although drill progress has, at times, been slow due to the nature of the material being drilled and the decision by the Company's on-site technical team to extend some holes beyond their initially anticipated depths. Core observations confirm IP geophysics is proving to be an effective guide in defining zones with elevated sulphide and silica contents.

Based on meterage drilled to date, and the planned depths for holes still to be drilled, management expects to expand the scope and scale of this program beyond the initially planned 2,000 meters in order to sufficiently test the expanded target-anomaly along strike and at depth.

Concurrent with drilling at Ginger Ridge, field crews have continued IP geophysical surveying and detailed geological mapping programs over multiple new geochemical target areas elsewhere within the Juan de Herrera project (see the Company's news releases dated September 13, 2016 and May 10, 2016). Given the established effectiveness of the IP surveying at Ginger Ridge, surveying at the new zones has the potential to define one or more of these areas as drill-worthy targets at the completion of this phase. Shareholders will be updated on the results of these regional programs and pending drill assay results as they become available.