Precipitate Provides Update on Recent Dominican Republic Government Statement; Drilling Continues at Pueblo Grande Project
Rhea-AI Summary
Precipitate Gold (OTCQB: PREIF) responds to a May 4, 2026 Dominican Republic presidential statement that paused activities at GoldQuest's Romero project; that pause is limited to Romero and does not affect Precipitate's permits. Diamond drilling continues at the 100%-owned Pueblo Grande project, ~1,600 metres completed, ~2,000 metres planned. The company reports approximately C$9.0 million in working capital and says initial assay results are pending.
Positive
- Drilling progress: ~1,600 metres completed, ~2,000 metres planned at Pueblo Grande
- Permits in good standing for three Dominican Republic projects, including Pueblo Grande
- Liquidity: approximately C$9.0 million in working capital
Negative
- Regional social risk: government pause on Romero highlights stakeholder sensitivity in the region
- Assay uncertainty: initial assay results from current drilling are pending and not yet disclosed
News Market Reaction – PREIF
In the May 6 session, PREIF gained 22.52%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - May 6, 2026) - Precipitate Gold Corp. (TSXV: PRG) (OTCQB: PREIF) (the "Company" or "Precipitate") provides an update following a recent statement by the Dominican Republic's President, Luis Abinader regarding specific exploration and development activities in the Dominican Republic.
On May 4, 2026, President Luis Abinader announced the temporary halt to activities related to GoldQuest Mining Corp's ("GoldQuest") Romero project in the Province of San Juan in response to public concerns. Importantly, the Romero project remains in the environmental evaluation stage, and no exploitation permit has been granted to date, consistent with the current regulatory process in the Dominican Republic. The Company notes that the President's statement was specific to the Romero project and does not extend to other mining or exploration projects operating within the country, including those controlled by Precipitate.
Precipitate maintains a
At the Company's
Jeffrey Wilson, President & CEO, stated, "We view the government's announcement as part of the necessary dialogue that accompanies responsible project development. The announcement is limited to a single project held by GoldQuest and does not include projects currently controlled by Precipitate. Our existing exploration and drilling permits remain in good standing, and we continue to advance our Pueblo Grande project through an ongoing diamond drilling campaign. With respect to our Juan de Herrera project, Precipitate will closely monitor the developments impacting Romero and remain sensitive to social and environmental concerns specific to that region as expressed by located stakeholders. Importantly, the Company maintains a strong financial position and maintains a disciplined focus on responsible exploration. Through ongoing engagement with communities and government officials Precipitate will determine the best approach advance its Juan de Herrera project. In the meantime, the ongoing drilling at Pueblo Grande is progressing well and assay results are expected in the coming weeks."
With approximately C
Precipitate remains focused on community relations, environmental stewardship, and transparent stakeholder engagement. The Company continues to prioritize proactive dialogue with local communities, government authorities, and other key stakeholders to ensure the continuation of responsible and sustainable exploration practices.
Additional information and updates related to the Company's ongoing activities in the Dominican Republic will be provided as further information is obtained.
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
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/296137