Precipitate Completes Acquisition of 100% Interest in Pueblo Grande Project in Dominican Republic
Page 1 of 3
Precipitate Completes Acquisition of 100% Interest
in Pueblo Grande Project in Dominican Republic
Vancouver, B.C. – January 15, 2019 - Precipitate Gold Corp. (the “Company” or “Precipitate”) (TSXV: PRG) is
pleased to announce it has closed the transaction p reviously announced with Everton Resources Inc.
(“Everton”). The Company has now completed the tran sfer of title to fully acquire ownership of all of
Everton’s Dominican Republic exploration concession s, consisting of Pueblo Grande Project , adjoining
Barrick’s and Goldcorp’s world-class Pueblo Viejo g old-silver mine, and the Ponton Project located
approximately 30 kilometers (“km”) east of Pueblo Grande (see news release dated October 24, 2018).
Jeffrey Wilson, Precipitate President & CEO, stated, "We are pleased to have completed our due diligen ce,
satisfied all requirements, and attained the necess ary government and regulatory approvals to close th is
transaction and acquire a 100% interest in this exciting new landholding adjacent to one of the largest gold-
silver mining operations in the world. During our d ue diligence period the Company’s technical team ha s
been actively plotting up proposed first phases of work within certain priority target areas and we ex pect
work activities on the ground to commence soon. In preparation for the completion of this transaction, as
reported in recent months, the Company has bolstere d its Advisory team with the addition of former
President and Executive Director of the Barrick-Pueblo Viejo mining operation, Mr. Mejico Angeles-Lithgow
and increased its technical understanding of the pr ojects through the engagement of consulting geologi st,
Dr. Stewart Redwood. With the acquisition now compl eted, Precipitate and its team are ready to begin a
first phases of work.”
The Pueblo Grande’s immediate exploration priority will be the area directly west of Barrick’s mining pits,
where a notable geophysical magnetic high coincides with an equally substantial area of advanced argil lic
lithocap alteration. This highly prospective lithocap target area measuring approximately 2.5 km by 3.0 km
has seen little systematic exploration and will be the focus of initial phases of work.
In accordance with the terms of the Agreement, for 100% title to Everton’s three Dominican exploration
concessions totalling 9,583 hectares, along with an extensive geochemical, geophysical, geological and drill
database, Precipitate delivers to Everton the following:
o CDN $25,000 cash;
o Seven million common shares of Precipitate subject to sale legend restrictions for up to 3 years,
expiring as follows:
• 10% (700,000 shares) with resale legend expiring 6 months from the date of issue;
• 10% (700,000 shares) with resale legend expiring 12 months from the date of issue;
• 10% (700,000 shares) with resale legend expiring 18 months from the date of issue;
• 15% (1,050,000 shares) with resale legend expiring 24 months from the date of issue;
• 15% (1,050,000 shares) with resale legend expiring 30 months from the date of issue; and
• 40% (2,800,000 shares) with resale legend expiring 36 months from the date of issue
TSX VENTURE: PRG | www.precipitategold.com
625 Howe Street, Suite 1020, Vancouver, BC, V6C 2T6
Toll free: 855 558 0335
Direct: 604 558 0335
Page 2 of 3
Additional stock payment conditions and details of pre-existing advanced-stage or mining-related
commitments, including an underlying NSR to a third party can be found in the Company’s news release
dated October 24, 2018.
About Pueblo Grande and Ponton Properties:
Two concessions, comprising a portion of the Pueblo Grande Property, are contiguous to the neighbouring
Pueblo Viejo mine. The third concession (the “ Ponton Project ”) acquired in this transaction is located
approximately 30 km east of Pueblo Grande in a simi larly favourable and prospective geological
environment. The Company has also submitted explora tion concession applications for an additional
strategic land position connecting the two main Eve rton concessions along the eastern boundary of the
Pueblo Viejo mine to form the newly consolidated Pueblo Grande Property . As a result, Precipitate’s new
land position adjoins Barrick’s Pueblo Viejo mine s ite on the west, north and east sides, covering abo ut
9,963 contiguous hectares. See the Company’s news release dated October 24, 2018 for more project
information and the accompanying maps or the Company’s website at www.precipitategold.com for the
property location illustration maps.
Map View of All New Acquired Concessions
The area to the west of the Pueblo Viejo mine is in terpreted to be a high-level advanced argillic lith ocap
alteration type environment which lacks significant known surface gold-silver mineralization but has
anomalous trace element suite that typifies the adj acent Pueblo Viejo mineralization style. The litho cap
alteration is dominated by pervasive quartz-pyrophy llite-pyrite with numerous and widespread irregular
pods, veins, and veinlets of massive hematitized ma gnetite. Magnetite/hematite, silicification and var ious
pathfinder elements associated with Pueblo Viejo st yle high sulphidation epithermal gold-silver-copper
mineralization offer key exploration vectors into and through the extensive altered lithocap zone.
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 Camp and Tireo Gold Trend of the Dominican Republic. The Company
also maintains the Reef property located immediatel y adjacent to Golden Predator’s 3 Aces Project in t he
Upper Hyland River area, Yukon Territory. The Compa ny has entered into an Option to Purchase
Page 3 of 3
Agreement with Golden Predator whereby Golden Predator can earn a 100% interest in the Reef claims by
making certain staged payments in cash and shares a nd warrants. Precipitate is also actively evaluatin g
additional high-impact property acquisitions with t he potential to expand the Company's portfolio and
increase shareholder value.
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 [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.