Precipitate Signs Drill Contract and Conducts Drill Site Preparations in Advance of Drilling Newly Identified Target at Pueblo Grande Project

Rhea-AI Summary

Precipitate (OTCQB: PREIF) signed a drill contract with Energold and completed access and drill pad preparations at the Pueblo Grande Norte Zone in the Dominican Republic on February 27, 2026. The target area is permitted and hosts an IP chargeability anomaly ~800m by >450m, open east-west, at 100–330m depths.

Drilling mobilization will proceed once site works finish; further timing and drill commencement details will be disclosed by the company.

Positive

• Drill contract signed with Energold for in-country diamond rig mobilization
• Site preparations completed for access routes and drill pads enabling timely mobilization
• Target permitted for drilling in the Pueblo Grande Norte Zone
• Large IP anomaly ~800m by >450m, open east-west and defined to 100–330m

Negative

• Drilling not yet started; mobilization pending completion of remaining site works
• Target untested; anomaly described as newly identified and untested, interpretations remain geophysical
• No firm schedule provided for drill commencement or hole count, limiting near-term visibility

Vancouver, British Columbia--(Newsfile Corp. - February 27, 2026) - Precipitate Gold Corp. (TSXV: PRG) (OTCQB: PREIF) (the "Company" or "Precipitate") is pleased to announce that it has completed improvements to existing property access routes and commenced preparations of new drill site locations within the Pueblo Grande Norte Zone of the Company's 100% owned Pueblo Grande Project ("Pueblo Grande" or the "Project") in central Dominican Republic. See photos below. In addition, the Company has signed a drill contract with Energold Group ("Energold"), whereby the drill company has confirmed the availability of an in-country diamond drill rig and crew prepared to commence mobilization upon completion of the site preparations.

Completion of access improvements and drill pad construction in the coming weeks will enable timely mobilization of the drill rig and crew, positioning the Company to commence diamond drilling immediately thereafter. Further details on the mobilization of the drill rig and/or the commencement of drilling will be disclosed in due course.

Photo 1: Cleared access path

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1718/285668_d4352d81341959cb_003full.jpg 

Photo 2: Completed drill pad preparations

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/1718/285668_d4352d81341959cb_004full.jpg

The target area is fully permitted for drilling and the pending diamond drilling campaign will be designed to systematically test a newly identified, and untested cluster of induced polarization ("IP") geophysical chargeability anomalies collectively measuring about 800 metres north-south by more than 450 metres east-west, loosely centred at depths that range from 100 to 330 metres from surface. The chargeability anomaly remains open in both the east and west directions. Using 2D Quantitative Vertical IP Sections, the interpreted shape of the chargeability high anomalies suggests an epithermal alteration system having a shallow south dipping alteration blanket or 'lithocap' (> 25 mv/v chargeability threshold), with perhaps up to three semi-discrete strong internal east-west tending sub-horizontal lobes (> 30 mv/v readings, up to 50 mv/v locally) and possible underlying vertical 'feeder structures' (as delineated by both moderate to strong chargeability and resistivity readings). See the Company's news release dated January 22, 2026.

Energold is a well-established international drilling contractor with substantial operational experience throughout the Caribbean and Latin America, including extensive prior work in various regions of the Dominican Republic. The selected diamond drill rig is currently in-country and available and expected to be mobilized to site shortly. Energold's experienced Dominican workforce are familiar with Project specific operating conditions and the selected rig is well suited for the anticipated drill hole depths and ground conditions.

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 high-impact 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/285668

FAQ

When will Precipitate (PREIF) begin diamond drilling at Pueblo Grande?

Drilling has not yet started; mobilization will occur after site preparations finish. According to the company, Energold's in-country rig and crew are available and will mobilize once access and pad works are complete, with commencement timing to be disclosed in due course.

What does the Energold drill contract mean for PREIF shareholders?

The contract secures a mobilizable diamond rig and crew in-country, enabling rapid start once ready. According to the company, this reduces mobilization risk and positions the project to test a significant IP target, though drilling remains subject to final site completion and scheduling.

How large and deep is the Pueblo Grande IP target that PREIF plans to drill?

The IP chargeability anomaly measures about 800 metres north-south by over 450 metres east-west and is centred at 100–330 metres depth. According to the company, the anomaly is open east and west and shows multiple internal chargeability lobes and potential feeder structures.

Is the Pueblo Grande drilling program permitted for PREIF (OTCQB: PREIF)?

Yes; the target area is fully permitted for drilling. According to the company, permitting is in place for the Pueblo Grande Norte Zone, allowing the pending diamond drilling campaign to proceed once mobilization and site works are complete.

Why is the IP anomaly at Pueblo Grande significant for PREIF investors?

The anomaly's size and chargeability intensity suggest a potentially large epithermal alteration system to test. According to the company, 2D QVIP sections indicate >25 mv/v lithocap and >30 mv/v internal lobes, warranting systematic diamond drilling to evaluate mineralization.