Precipitate Gold updates Dominican Republic government statement; drilling continues at Pueblo Grande Project

Precipitate Gold Corp. [TSXV: PRG; OTCQB: PREIF] provided 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 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 100% right to three projects in the Dominican Republic, two of which are located outside the Province of San Juan, all of which remain in good standing with existing exploration and drilling permits that are not impacted by the President’s recent announcement.

At the company’s 100%-owned Pueblo Grande Project located in the Province of Sanchez Ramierz, diamond drilling continues at the Pueblo Grande Norte Zone, where the company is testing a newly identified cluster of induced polarization (IP) geophysical chargeability-high anomalies that were recently delineated through a comprehensive review of historical exploration data and follow-up IP geophysical surveying completed by Precipitate late last year.

To date, the company has completed four diamond drill holes for a total of about 1,600 metres, with a fifth hole planned to bring the total number of metres to approximately 2,000. Initial assay results from the current program are pending and will be disclosed as they become available.

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$9.0 million in working capital, Precipitate is well positioned to continue executing its exploration strategy through the advancement of multiple high-priority targets throughout its project portfolio.

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.

Precipitate Gold Corp. is focused on exploring and advancing its mineral property interests in the Dominican Republic, including its 100%-owned Juan de Herrera project, its 100%-owned Pueblo Grande project, and its 100%-owned Ponton project. Precipitate is also actively evaluating additional property acquisitions.