Precipitate Commences Diamond Drilling Program at Newly Identified Target at Pueblo Grande Project

Rhea-AI Summary

Precipitate Gold (OTCQB: PREIF) has begun a diamond drilling campaign at the Pueblo Grande Norte zone of its 100% owned Pueblo Grande Project, commencing March 2026. The initial program is budgeted for four holes (~450m each) for a total of approximately 2,000 metres.

The campaign will test a newly identified cluster of IP chargeability-high anomalies located adjacent to an established large-scale mining operation. Drilling is contracted to Energold and is expected to run 8–12 weeks, with assay results reported as available.

Positive

• Initial drill program of ~2,000 metres testing new targets
• Targeting a sizeable, untested cluster of IP chargeability-high anomalies
• Energold contracted—experienced operator with prior regional work

Negative

• Assay results are not yet available; results will be reported later
• Initial program limited to four holes, which may constrain near-term discovery scope

Vancouver, British Columbia--(Newsfile Corp. - March 25, 2026) - Precipitate Gold Corp. (TSXV: PRG) (OTCQB: PREIF) (the "Company" or "Precipitate") is pleased to announce that diamond drilling has commenced at  the Pueblo Grande Norte zone of the Company's 100% owned Pueblo Grande Project ("Pueblo Grande" or the "Project").

The drill campaign is budgeted to consist of an initial four holes, each with an estimated average drill depth of approximately 450 metres for a total expected program of approximately 2,000 metres. The drill campaign is designed to test a newly identified cluster of induced polarization ("IP") geophysical chargeability-high anomalies that were recently delineated through a comprehensive review of historical exploration data and follow-up IP geophysical surveying completed by Precipitate late last year (see news release dated January 22, 2026). See figures and photographs below.

Jeffrey Wilson, President and CEO of Precipitate Gold Corp., commented, "We are pleased to have successfully advanced this compelling geophysical target from data interpretation through to drilling in a relatively short period of time. The identification of a sizeable and untested cluster of chargeability anomalies located immediately adjacent to a world-class mining operation represents an exciting exploration opportunity for the Company. With drilling now underway, we look forward to testing this target and evaluating initial results to determine its potential to host meaningful gold mineralization."

Figure 1: Pueblo Grande Norte 2026 IP Survey Chargeability (plan map and vertical sections looking west)

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1718/289790_a66138fe24a3db1b_003full.jpg

Figure 2: Drill set up and drilling underway at Pueblo Grande Norte Target of Pueblo Grande Project, March 2026

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1718/289790_a66138fe24a3db1b_004full.jpg

Figure 3: Drill crew overseeing first diamond drill hole at Pueblo Grande Norte Target of Pueblo Grande Project, March 2026

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1718/289790_a66138fe24a3db1b_005full.jpg

Drilling is being conducted by Energold Drilling, an international drilling contractor with operational experience throughout Latin America and the Caribbean, including significant prior work on the Pueblo Grande Project in the Dominican Republic. The selected diamond drill rig is well suited for the anticipated hole depths and ground conditions and is operated by Energold's experienced workforce familiar with the region and project operating environment.

The drill program is expected to run for approximately 8 to 12 weeks, depending on various circumstances, with assay results to be reported as they become available.

The scientific and technical information contained in this news release has been reviewed and approved by Michael Moore, P. Geo., Vice President, Exploration of Precipitate Gold Corporation, a Qualified Person ("QP") as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. Moore is not independent of the Company within the meaning of NI 43-101. The QP has verified the data disclosed in this news release, including sampling, analytical and test data underlying the information.

About Precipitate Gold:
Precipitate Gold Corp. is a mineral exploration company focused on exploring and advancing its mineral property interests in the Dominican Republic, including its 100% owned Juan de Herrera project located immediately adjacent to GoldQuest Mining's Romero Project, its 100% owned Pueblo Grande project located immediately adjacent to the Pueblo Viejo mine operated by Barrick Mining, and its 100% owned Ponton project located 30km east of the Pueblo Viejo mine. Precipitate is also actively evaluating additional 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/289790

FAQ

What is the scope of Precipitate Gold's March 2026 Pueblo Grande drill program (PREIF)?

The program comprises an initial four diamond drill holes (~450m each), totaling about 2,000 metres. According to Precipitate, the campaign is designed to test newly identified IP chargeability anomalies adjacent to an operating mine.

How long will the PREIF Pueblo Grande Norte drilling campaign run and when will assays be available?

The drill program is expected to run approximately 8–12 weeks, depending on conditions. According to Precipitate, assay results will be reported as they become available following completion of drilling and laboratory analysis.

What target is Precipitate testing at the Pueblo Grande Norte zone (PREIF)?

Precipitate is testing a newly identified cluster of induced polarization (IP) chargeability-high anomalies believed to be potentially mineralized. According to Precipitate, these anomalies are untested and lie adjacent to a world-class mining operation.

Who is conducting the drilling at PREIF's Pueblo Grande Project and why is that significant?

Energold Drilling is operating the diamond drill rig; the contractor has regional experience and prior work on Pueblo Grande. According to Precipitate, Energold’s workforce and rig are well suited to the anticipated hole depths and ground conditions.

How many metres per hole is Precipitate planning for each drill hole at Pueblo Grande (PREIF)?

Each planned hole is estimated at an average depth of about 450 metres. According to Precipitate, the four-hole initial campaign yields an expected total of approximately 2,000 metres of drilling.

Does the March 25, 2026 PREIF announcement confirm any mineral resource at Pueblo Grande Norte?

No mineral resource is confirmed; the announcement states drilling will test geophysical anomalies but does not report assays or resource estimates. According to Precipitate, results will be evaluated once assay data are received.