Precipitate Gold Corp. announced that Barrick Gold Corporation has commenced a ground geophysical and trenching program in advance of a planned second phase of drill testing on Precipitate's 100% owned Pueblo Grande Project, as part of an earn-in agreement whereby Barrick has the right to earn a 70% interest in Precipitate's Pueblo Grande Project located immediately adjacent to Barrick's Pueblo Viejo gold mine in the Dominican Republic. Barrick has commenced an exploration program including induced polarization (‘IP') geophysical surveying and trenching on the Lithocap Zone (Loma Cuaba) of the Pueblo Grande project, west of the Pueblo Viejo gold mine, in advance of a diamond drill program planned for early 2023.

Re-interpretation of existing project data has led to an expanded exploration program targeting both near surface high sulphidation epithermal ‘Pueblo Viejo style' mineralization and an inferred copper-gold porphyry style target at depth. Barrick Planned Program Highlights (Lithocap Zone): An exploration program focused on near surface high sulphidation epithermal Pueblo Viejo style gold mineralization along with a possible concealed copper-gold porphyry style target at depth; A deep penetrating, 2D pole-dipole IP geophysical surveying comprised of three (3) north-south oriented survey lines, at 400 metre spacing, for a planned survey total of nine (9) line kilometers; Renewed evaluation of an area located immediately west of the previous Barrick drill testing at the Lithocap Zone, by way of re-interpretation of existing Project data, particularly magnetic geophysics, various rock-soil geochemical signatures, surface rock-clay alteration studies, and critical geological features (rock types and various fault structures); Up to ten hand-dug trenches targeting coinciding areas of prospective geology and high temperature clay alteration occurrences, which are often associated with high sulphidation epithermal systems; Preparation of an estimated 3,000 metre diamond drill program, anticipated for early 2023.