Precipitate Granted Additional Exploration Concessions and Files Maiden NI 43-101 Report on Juan de Herrera Project in the Dominican Republic
Vancouver, B.C. -- April 25, 2016 - Precipitate Gold Corporation (the "Company" or "Precipitate" or "PRG") (TSXV: PRG) is pleased to announce it has received, from the Dominican Republic authorities, final grant of two wholly owned exploration concessions, namely the "JDH Oeste" and "Cuarita" concessions. These newly granted concessions make up portions of the Company's Juan de Herrera project located within the Tireo Gold Camp of the Dominican Republic (see attached map for concession locations).
Precipitate's President & CEO, Jeffrey Wilson states, "We are pleased to have received these two new concession grants, as they represent near completion of the Company's total property concession applications. With only a single concession application remaining, the Juan de Herrera project now has 98% of its area fully granted, thus permitting the Company to conduct systematic exploration over a majority of the project area. We appreciate the efforts of the Dominican Government authorities in granting these concessions, and look forward to continuing our exploration efforts in the area."
The Juan de Herrera property consists of eight concessions covering a total of 12,746 hectares; measuring about 52 kilometers long in a NW to SE direction. Much of the project forms a single contiguous block, with a single separate concession, yet to be granted, located a few kilometres to the east. The main Juan de Herrera property block borders the west and south side of GoldQuest Mining Corp.'s Tireo Project and the area hosting its Romero gold-copper deposit. The entire main contiguous block has now been fully granted and permitted for exploration.
These newly granted areas were explored as part of the Company's recently announced property-wide exploration program. Results of the latest program, along with any proposed follow-up exploration plans will be reported as they become available.
The Company also wishes to report the completion of a maiden National Instrument 43-101 Report on its Juan de Herrera Project. A full copy of the report can be found on the Company's document filing page on SEDAR and the Company's website.
Michael Moore, VP Exploration of the Company and Qualified Person for purposes of National Instrument 43-101 has reviewed the technical information in this news release.
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 northern British Columbia and southeast Yukon Territory and is 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 www.precipitategold.com
On Behalf of the Board of Directors of Precipitate Gold Corp.,
President & CEO
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.
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