Barrick Commences Field Work within Lithocap Zone of Precipitate’s Pueblo Grande Project, Dominican Republic
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Barrick Commences Field Work within Lithocap Zone of Precipitate’s
Pueblo Grande Project, Dominican Republic
Vancouver, B.C. – June 17, 2020 - Precipitate Gold Corp. (the “Company” or “Precipitate”) (TSXV: PRG, OTC:
PREIF) is pleased to announce commencement of explo ration and field work by Barrick Gold Corp.
(“Barrick”) (NYSE: GOLD) (TSX: ABX) at the Company’ s 100% owned Pueblo Grande Project located
immediately adjacent to Barrick’s world-class Pueblo Viejo gold-silver mine in the Dominican Republic.
Barrick advises it has commenced review and validat ion of the extensive database of field and desktop
analytics, including historic drilling results and existing geochemical and geophysical data from work
conducted by Precipitate and prior operators. Barri ck’s initial work will concentrate on the project’s
Lithocap Zone (or “Loma Cuaba ”) which is located i mmediately west of Barrick’s Pueblo Viejo mining pi ts
and was the primary focus of Precipitate’s explorat ion work prior to execution of the earn-in agreemen t
(see accompanying map ).
Barrick’s planned Lithocap Zone field work for the f irst and second quarter of the earn-in is expected to
consist of:
- Selective surface geochemical sampling;
- Systematic rock-clay alteration surveying, via portable spectral mineral analyzers;
- Geological mapping; and
- An initial 2,500 metres of exploration drilling.
Jeffrey Wilson, President & CEO, stated, "We are pl eased with the commencement of work by Barrick on
our Pueblo Grande project. The timely start-up of e xploration initiatives closely following the easing of
certain in-country COVID-related restrictions speak s to Barrick’s commitment to promptly initiate
meaningful programs to explore and advance the proj ect as efficiently and systematically as possible.
We’re specifically encouraged by Barrick’s initial focus within the Lithocap Zone where Precipitate ha d
previously identified multiple prospective targets. Barrick’s unique and extensive experience with the style
of high sulphidation mineralization being targeted offers Precipitate shareholders leverage to critica l
exploration expertise. The earn-in agreement’s requ irement for Barrick to incur a minimum US$2.0M in
exploration before the second anniversary, and Barr ick’s intent to conduct a 2,500 metre drill program
within the first two quarters of the agreement term , suggests the potential for important near-term
exploration updates and results as Barrick’s work a dvances. We look forward to reporting any additiona l
updates as they become available.”
TSX VENTURE: PRG | www.precipitategold.com
625 Howe Street, Suite 1020, Vancouver, BC, V6C 2T6
Toll free: 855 558 0335
Direct: 604 558 0335
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In accordance with Earn-in Agreement between Precip itate and Barrick as announced April 14, 2020,
Barrick can earn a 70% interest in Precipitate’s Pu eblo Grande project by incurring a minimum US$10.0
million in qualifying Work Expenditures and deliver ing a qualifying pre-feasibility study prior to the sixth
anniversary of the entering into of the Agreement ( see the Company’s news release dated April 14, 2020
for full Earn-In Agreement details).
This news release has been reviewed by Michael Moor e P. Geo., Vice President, Exploration of Precipita te
Gold Corporation, the Qualified Person for the tech nical information in this news release under NI 43- 101
standards.
About Precipitate Gold:
Precipitate Gold Corp. is a mineral exploration com pany 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 i s actively
exploring its 100% owned Ponton and Juan de Herrera projects. The Company’s Pueblo Grande Project is s ubject to an
Earn-In Agreement with Barrick Gold Corporation, wh ereby Barrick can earn a 70% interest by incurring US$10M
within six years and producing a qualifying Pre-fea sibility Study. Precipitate is also actively evalua ting additional high-
impact property acquisitions with the potential to expand the Company's portfolio and increase shareho lder value, in
the Dominican Republic and other favourable jurisdi ctions.
Additional information can be viewed at the Company’s website www.precipitategold.com .
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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 [email protected]
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 ex pected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such w ords 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 ac hieved. 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-loo king information is subject to known and unknown ri sks, 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 a ll; 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 enviro nmental legislation affecting mining; timing and av ailability of external financing on acceptable
terms; conclusions of economic evaluations; and lac k of qualified, skilled labour or loss of key indiv iduals. Although Precipitate has attempted to
identify important factors that could cause actual results to differ materially from those contained i n forward-looking information, there may be
other factors that cause results not to be as antic ipated, 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.