Precipitate Gold Corp. announced that in partnership with GoldQuest Mining Corp. it has completed the purchase, out of receivership/bankruptcy of drills and associated equipment sufficient to assemble up to 5 operational man-portable diamond drill rigs at a substantial discount to the assessed replacement value of the equipment.

The entire inventory acquired in this transaction is currently domiciled in the Dominican Republic ("DR") and accessible to the Company. The drills and equipment being acquired are the same types of man-portable drills and equipment previously utilized by Precipitate in multiple prior DR drilling campaigns. It is therefore familiar to the Company's technical team and ideally suited for the upcoming drill program planned for the Company's Loma Cuaba Lithocap Zone of its 100% owned Pueblo Grande Project, and possible future drilling at its 100% owned Juan de Herrera Project.

In addition, to streamline operations, the Company has engaged a senior in-country "ex-pat" Foreman with extensive local expertise to get the equipment drill-ready while assembling and managing an experienced drill crew.