Precipitate Gold Corp. announced that Barrick Gold Corporation ("Barrick") has provided the Company with a 2024-Q1 exploration update regarding ongoing exploration and target delineation within Precipitate's 100% owned Pueblo Grande Project (the "Project"). Barrick's exploration is part of an earn-in agreement whereby Barrick has the right to earn a 70% interest in the Project.

Pueblo Grande Norte Zone: Drill Target Refinement: Barrick is currently conducting a detailed ground magnetic survey. Subject to results, additional ground geophysical surveys may follow as a prelude to a follow up Phase III drilling program within the Zone. As previously reported, latest drilling in this region by Barrick encountered encouraging favourable permeable mafic volcanic tuff lithologies which are variably affected by high-sulfidation type alteration with several events of strong sulfide disseminations, similar to observations at the neighbouring Pueblo Viejo Mine.

It is anticipated that results from latest drilling combined with newly generated geophysical data will provide the basis for delineating specific targets for a potential next phase of diamond drilling in Pueblo Grande Norte. Pueblo Grande Sur Zone: New Gold-in-Soil Anomalies and Ongoing Exploration: Soil sample laboratory data received to date (20% of the multi-element results are pending) reveals several new early-stage gold-in-soil anomalies located on west and central parts of Pueblo Grande Sur; these gold anomalies are often coincident with important silver, arsenic, antimony and thallium pathfinders. The most sizable soil anomaly measures about 2.8km x 1.0km (as defined by 90th percentile values >13 ppb gold) and is open to the west, trending in the vicinity of Barrick's Zambrana exploration target, which is located southeast of the Pueblo Viejo Mine Area.

Barrick's ongoing exploration work for 2024 for the Pueblo Grande Sur will delineate and refine potential drill-worthy targets in this emerging area of the Project, with Pueblo Grande Sur diamond drill permits expected during 2024.