Juan de Herrera Project

Additional Information on The Dominican Republic’s Tireo Gold Trend

Juan de Herrera Drill Hole Summary Result Tables:

Property	Juan de Herrera, concessions covering about 12,746 hectares
Location	Dominican Republic: Tireo Gold Trend of central Hispaniola. Concessions adjacent to GoldQuest Mining’s Tireo Project which hosts the gold-copper Romero and Romero South deposits
Summary	Gold exploration focused on the discovery of intermediate sulphidation epithermal and VMS style deposits
Ownership	100% ownership of all concessions, subject to a 3% NSR on various concessions. 1.5% of NSR can be purchased by Company for $2.0M

Juan de Herrera NI 43-101 Technical Report (March 2016)

Latest News from Juan de Herrera

On October 2, 2024 the Company announced results from follow up hand trench rock channel sampling, infill soil sampling and prospecting within the newly identified CN Zone. As previously reported, results from recent rock sampling, within the CN Zone soil anomaly, returned values including 73.8 g/t gold, 34.9 g/t gold and 11.7 g/t gold, and 8.7 g/t gold* from selective high-grade rock grab samples. Follow up prospecting, rock and hand trench channel sampling in the zone returned the following highlight information:

Trench 3: 32.2 g/t gold, 286 g/t silver over 5.1 metres (including 38.5 g/t gold, 347 g/t silver over 4.1 metres)
Trench 2: 1.5 g/t gold, 12.6 g/t silver over 3.0 metres, and
Trench 1: 1.0 g/t gold, 8.8 g/t silver over 4.0 metres

The structure has a current verified strike length of about 50 metres via the three hand dug trenches and very likely exceeds this length as indicated by on-trend gold anomalous soil samples to the southeast.

The bedrock source of gold mineralization has been identified as a silica – quartz flooded structure located on the east limit (up slope side) of the gold-in-soil anomaly. The gold enriched structure has a northwest-southeast trend and dips 40 to 50 degrees to the northeast, with an apparent width ranging from 3 to 6 metres wide.

Follow up infill soil sampling of the CN Zone has refined the outline of the gold-in-soil anomaly to an estimated area measuring about 725 metres (north-south) by up to 300 metres (east-west), where the multi-element soil anomaly appears to be open to the southwest. Soil samples are affected by significant down slope dispersion, directed from east to west.

In August 2024 Precipitate announced results from various programs of field, desktop and laboratory work along with the review and analysis of existing data. The Company collected over 17,000 individual soil samples on grid parameters as detailed as 25 metre by 50 metre spacings within multiple known areas of interest throughout the project. Approximately 8,000 samples showing elevated base metal and pathfinder elements (from XRF scanning)warranted full laboratory analysis. Analytical results from this project-wide sampling program identified eight priority zones of elevated gold and/or base metals (copper, lead and zinc) in soil anomalies and has also refined the extents of several notable pre-existing soil anomalies at the Southeast, Peak and Melchor zones. These newly delineated zones are Ginger Ridge North, CN, CN 2, CN 3, CdN, CdN 2, CdN 3, and GM. Early field observations of various surface rocks (float and outcrop) have led the Company to prioritize three zones for immediate follow up exploration, those being CN, CdN, and GM zones.

As follow up, crews commenced a more detailed program of sampling and mapping within these new zones and the latest results have outlined two zones of near-term priority interest, the CN zone and the GM Zone. To date the CN zone has emerged as a top priority based on its elevated gold grades, geological affinities, and overall size.

CN Zone

Selective high grade rock grab samples (float) with very strong iron oxides (after pyrite) and silica-quartz yielded values of 73.8 g/t gold, 34.9 g/t gold, 11.7 g/t gold, and 8.7 g/t gold*, with more representative outcrop grab samples yielding values ranging from 2.2 to 6.3 g/t gold. Located within the north-central region of the Project area, rock and soil sampling has demarked an area measuring about 700 metres (north-south) by up to 300 metres (east-west), where the multi-element soil anomaly is open to the north and south.

GM Zone

Seven of the 21 rock samples (float/subcrop and one outcrop) report anomalous gold values, including 4.3 g/t gold and 1.4 g/t gold, with associated pathfinder elements of arsenic, copper, selenium, lead and zinc. Located at the northern end of the Project area, rock and soil sampling has outlined an area measuring approximately 450 metres (northwest-southeast) by up to 250 metres (southwest-northeast) where the multi-element soil anomaly is open to the north and the east.

Juan de Herrera Project Location

Precipitate’s Juan de Herrera project is well located within the prospective Tireo Gold Trend in western Dominican Republic. The Juan de Herrera (“JDH”) project is variably road accessible and covers an estimated 40 kilometres of prospective strike length of target Tireo Formation lithologies (see property maps). The Tireo Formation is an Upper Cretaceous aged package of volcanic and sedimentary rocks that bisects central Hispaniola, trending northwesterly through the Dominican-Haitian border. These rocks were largely unexplored until recent discoveries by GoldQuest Mining Corp (Romero), Unigold (Neita-Candelones) and Newmont (La Miel). Approximately 5.0 million gold equivalent ounces have been discovered and advanced in in the belt in the last decade, while vast areas of similarly prospective and proximal terrain remains largely underexplored.

Project Technical Milestones and Highlights

JDH Project acquired October 2012 via option agreement; December 2016 Precipitate earned 100% control interest in the JDH Project.
Completion of maiden property wide regional-scale prospecting and geochemical sampling yields numerous gold/copper/zinc targets (2015-16).
Detailed ongoing exploration at six areas: Ginger Ridge East, Southeast, South Jengibre, Peak, Melchor and JT; with a number of other regional targets yet to be followed up on.
Helicopter airborne high-sensitivity magnetic and radiometric geophysical survey complete.
Focused exploration at Ginger Ridge Main Zone (2014-17): including detailed soil and rock sampling, geological mapping, multiple phases of IP & magnetic geophysical surveys, and 3,270 metres of diamond drill testing. Identification of a combined VMS-intermediate sulphidation mineral system and discovery hole GR14-05 with highlight result of 18.0m @ 4.54 g/t gold.
Tireo Gold Camp data sharing and collaboration agreement with GoldQuest Mining Corp.
Extensive regional scale IP (induced polarization) geophysical survey program completed over the current five priority exploration zones. Numerous combined chargeability/resistivity anomalies identified.
Complete the area’s first property scale geological mapping program covering all Company major focus areas.
Identification of Ginger Ridge East Zone VMS mineralization target via soil and trench sampling; Current diamond drill program includes 8 short holes for 811 metres total, with more drilling planned.

Current Focus and Goals

The Company has initiated a follow up program at the CN, GM and CdN zones, where exploration work will include additional prospecting, rock sampling, infill and extension soil sampling, coarse geological mapping and where warranted, selective hand trench channel sampling.
Additional diamond drill testing and geological interpretation of the Ginger Ridge East Zone VMS mineralization target, with a goal of identifying similar VMS style mineralization as recently discovered at GoldQuest’s nearby “Cachimbo Zone”.
Southeast, South Jengibre, Peak and Melchor Zones: collection of detailed soil samples (25m by 50m density) and additional exploration target refinement for drill testing of the numerous high level multi-layered geophysical, geochemical and geological anomalies. The Southeast and South Jengibre zones are the near term focus. Especially the recently identified copper enriched Southeast Zone Trench 7 area (3.0m of 2.78% copper within 8.0m of 1.28% copper).

Ginger Ridge Main and East Zones Exploration Summary

Precipitate’s primary exploration focus is to identify intermediate sulphidation epithermal and VMS styles of mineralization. Since announcing its initial Dominican Republic property acquisitions in August 2012, the Company has completed multiple phases of regional and local scale exploration work. To date detailed exploration programs have focused on the Ginger Ridge Main Zone, as well as the recently identified Ginger Ridge East. The Ginger Ridge South zone has seen limited exploration including surface sampling and trenching and single drill hole GR17-15.

Detailed exploration at Ginger Ridge Main Zone includes geological mapping, rock-soil sampling, hand trenching, multiple phases of induced polarization and ground magnetic geophysical surveying and 15 diamond drill holes totalling 3,270m (3 phases).

Early drilling (2014) at the Ginger Ridge Main Zone discovered a new zone of gold-enriched massive sulphide mineralization; ‘discovery hole’ GR14-05 cut 98.1 metres of strongly disseminated, semi to massive sulphides (dominantly pyrite), containing an 18.0 metre wide interval of 4.54 g/t gold (including 5.0 metres at 13.37 g/t gold. Holes reported from Phase 2 drilling (holes 7 to 11) were not as robust as the mineralization identified in the discovery hole. Subsequently completed holes GR17-12 to 15 reported results for the Main and South parts of the Ginger Ridge area. Highlight results include the discovery of mineralization in a previously untested anomaly to the south of the Main zone yielding a 1.1 m interval of 2.59 g/t gold, (including 0.11% copper, 0.6% lead and 0.65% zinc) (GR17-15) and a Main Zone drill intercept of 14.73m of 1.16 g/t gold, including 2.67m of 2.23 g/t gold (GR17-13).

Ginger Ridge Main Zone Surface Sampling and IP Geophysics

Soil and rock sampling has established a northwest-southeast trending surface gold anomaly (plus pathfinder elements) about 2.0 kilometres. The enriched multi-element core anomaly is characterized by a correlation of gold and silver with several pathfinder elements which variably include arsenic, antimony, barium, lead, copper, thallium and zinc. Surface sampling at Ginger Ridge covers an estimated area measuring 2,200m by 750m, blanketing most of the eastern slope of Ginger Ridge. IP geophysical surveys cover an area measuring approximately 1.6 km by 1.0 km, blanketing much of the zone’s multi-element surface geochemical anomaly that marks anomalous mineralization in Tireo volcanic rocks.

Ginger Ridge East Zone Surface Sampling

In early 2017, the Company announced soil sampling results from the newly identified gold-in-soil geochemical anomaly Ginger Ridge East zone, located approximately 1.0km east of the Main Ginger Ridge anomaly. Subsequent comprehensive and concentrated soil sampling program (density of 25m by 25m) has demarcated a robust soil anomaly measuring >1,000 metres long by an estimated average width of 100 metres (up to 200m wide locally). The northwest-southeast trending soil anomaly reports elevated gold, lead and zinc values throughout the surface anomaly along with intermittent copper values. . Geological mapping of this drill priority area shows the Ginger East area to be underlain by very similar gold-copper-zinc enriched andesite-dacite volcanic rocks as noted at the GoldQuest Mining Cachimbo VMS discovery nearby to the northwest.

Additional Zones at Juan de Herrera

Regional sampling and mapping in early 2016 identified 5 new priority geochemical anomalies, namely “Southeast”, “Jengibre South”, “Melchor”, “Peak”, and “JT”. Ongoing geochemical surface sampling continues to refine the size and form of these significant multi-element anomalies. All five areas are coincident with regional airborne magnetic anomalies and are hosted within favourable Tireo volcanic lithologies

In May 2017, the Company announced the completion of an extensive Induced Polarization (“IP”) geophysical survey program over multiple zones within the JDH Project. The survey focused on Ginger Ridge, Southeast, South Jengibre, Peak, Melchor and JT zones. Property-wide, a total of 80 line kilometres have been surveyed, including the 2014 Ginger Ridge IP geophysical work. In addition, the Company has collected ground magnetic readings from 73 line kilometres surveyed within the project; selective magnetic geophysical surveying is ongoing.

Southeast Zone

650 m by 125m multi-element soil anomaly with gold up to 144 parts per billion (“ppb”), plus various pathfinder elements (open in all directions, except to the southeast);
Northwest trending soil anomaly coincident with important geophysical features, including moderate-high IP chargeability and resistivity and magnetic low signatures important for potential gold mineralization in the region;
Discovery of a new early stage high grade copper showing with strong disseminations of chalcopyrite (rock grab samples reporting up to 13.5% copper, 0.5 g/t gold, and 52.1 g/t silver*); Continuous rock chip results from Trench 7: 3.0m of 2.78% copper, within 8.0m of 1.28% copper within a broader 18.0m of 0.70% copper; and
Sampling of other areas between Southeast and South Jengibre has reported copper values up to 1.1% and gold values up to 1.1 g/t

South Jengibre Zone

350m by 150m multi-element soil anomaly with gold up to 229 ppb, open to the southeast;
Gold-in-soil anomaly correlates with pathfinder elements, zinc and lead, with lesser silver and antimony;
Soil anomaly is coincident with moderate IP chargeability and high IP resistivity and moderate magnetic low signatures;
Located two kilometres south of GoldQuest Mining’s Jengibre zone, where past work reported highlight rock channel sampling results of 59.5 metres grading 1.58 g/t gold (see GoldQuest news release of October 7, 2009) and rock samples to 17.7 g/t gold and 1.4% copper; and
Rock grab sampling has reported gold values up to 5.2 g/t and 1.25 g/t across a 4.0 metre outcrop

Melchor Zone

Target area measuring 2.2 km by 0.6 km including three parallel and fairly well defined multi-element soil anomalies with gold up to 181 ppb;
Highlight rock grab sampling with gold values up to 7.7 g/t Au;
The three southeast trending soil anomalies are further defined by various geophysical features of mixed moderate-high and low IP chargeability-resistivity and magnetic low signatures, important for potential gold mineralization in the region; and
Geological mapping indicates much of the area to be underlain by regionally favourable rhyolite and dacite rocks.

Peak Zone

Target area measuring 2.0 km by 0.7 km, includes four loosely outlined multi-element soil anomalies with gold up to 286 ppb;
Highlight rock grab sampling with gold values up to 1.57 g/t Au and copper values to 0.6%;
Geophysical responses including mixed moderate-high and low IP chargeability-resistivity and magnetic signatures; are coincident with the soil anomalies;
Located 4.5 km southeast of GoldQuest Mining’s Jengibre zone, where past work reported highlight rock channel sampling results of 59.5 metres grading 1.58 g/t gold (see GoldQuest news release of October 7, 2009) and rock samples to 17.7 g/t gold and 1.4% copper; and
Sampling of other areas between Peak and Melchor zones has reported gold-in-soil values up to 490 ppb and a rock grab sample with 0.47 g/t gold and greater than 1% zinc.

* NOTE: Surface rock grab samples are selective by nature and are unlikely to represent average grades of the zone.