Precipitate Announces New Appointment to the Board of Directors

VANCOUVER, British Columbia, June 06, 2018 (GLOBE NEWSWIRE) -- Precipitate Gold Corp. (the “Company” or “Precipitate”) (TSXV:PRG) is pleased to announce the appointment of Mr. Lon Shaver to the Company's Board of Directors.

Mr. Shaver has over 25 years of capital markets and corporate finance experience, mostly focused on the Canadian mining sector. He spent a combined 13 years in investment banking roles with Merrill Lynch and Raymond James where he guided corporate clients through hundreds of closed financing and M&A advisory transactions, and successfully negotiated and executed diverse partnership, product licensing, and professional services engagements within a growth-oriented technology company. Previously, Mr. Shaver was a research associate and mining analyst with an institutional sell-side firm. Mr. Shaver’s corporate experience includes CFO roles with a publicly-listed mining company and a private technology company. He is currently a principal of Brighton Corporate Advisors, providing corporate development and capital markets support to companies in the resource sector, and is on the boards of several public companies. Mr. Shaver has a B.Comm. degree from Concordia University and is a CFA charterholder.

Jeffrey Wilson, Precipitate President & CEO, states, "We are very pleased to have Lon join the Company’s Board. His knowledge of capital markets and his investment banking background will round out the expertise of the Company’s Board. Mr. Shaver’s network and experience will assist Precipitate in advancing current mandates and pursuing potential new opportunities to increase shareholder value. Having worked directly with Lon in the past, I am cognizant of his work ethic and strategic acumen. He is a welcome addition to the Precipitate Board."

In connection with the appointment of Mr. Shaver, the Company also announces the resignation from the Board of Mr. Darryl Cardey. Mr. Cardey is a founding director of the Company and has been a valuable member of the Precipitate team since its inception. The Company thanks Mr. Cardey for his years of loyal service and wishes him the best in his future endeavours.

About Precipitate Gold:
Precipitate Gold Corp. is a mineral exploration company focused on exploring and advancing its mineral property interests in the Tireo Gold Trend of the Dominican Republic. The Company also maintains assets in southeast Yukon Territory, specifically the Company’s Reef property located immediately adjacent to Golden Predator’s 3 Aces Project in the Upper Hyland River area. The Company has entered into an Option to Purchase 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 and warrants. Precipitate is also actively evaluating additional high-impact property acquisitions with the potential to expand the Company's portfolio and increase shareholder value.

Additional information can be viewed at the Company’s website

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

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 expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words 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 achieved. 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-looking information is subject to known and unknown risks, 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 all; 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 environmental legislation affecting mining; timing and availability of external financing on acceptable terms; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. Although Precipitate has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, 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.