Precipitate Saddened by Passing of Director Gary Freeman

VANCOUVER, British Columbia, Feb. 15, 2018 (GLOBE NEWSWIRE) -- Precipitate Gold Corp. (the “Company” or “Precipitate”) (TSXV:PRG) announces today, with great regret, the sudden death of one of the Company’s founding Directors, Mr. Gary Freeman.

Gary was a prolific venture capital financier, a company builder, a former stock broker, and a promoter in the very best sense of the word. He contributed to the success of many Canadian listed issuers and played an important role as a Director of Precipitate. Gary was known for his unique brand of charm and sense of humour. At the time of his passing, Gary was President and CEO of Ethos Gold Corp. and a Director of other listed companies. Gary enjoyed a long and successful career in the capital markets, most notably as the President and Chief Executive Officer of Pediment Gold Corp. from 2005 to 2011, where he was responsible for raising funds and executing certain exploration campaigns that would lead to the discovery of the San Antonio deposit, the purchase of the La Colorada mine, and the eventual sale of Pediment to Argonaut Gold Inc. for approximately $140 million.

Jeffrey Wilson, Precipitate’s President and CEO commented, "It is with great sadness and regret that we announce the passing of our friend and colleague, Gary Freeman. As a founding Director of the Company, Gary’s input and contributions to the Company were invaluable. The Board of Directors, management and staff of Precipitate Gold are indebted to Gary for his significant contributions to the Company. Gary leaves behind many grateful colleagues and good friends and his unique and loveable character will be greatly missed. Our thoughts are with Gary's wife and family at this very difficult time."

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 British Columbia and southeast Yukon Territory, including 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 www.precipitategold.com. 

On Behalf of the Board of Directors of Precipitate Gold Corp.,

“Jeffrey Wilson”

President & CEO

For further information, please contact Jeffrey Wilson:

Tel: 604-558-0335     Toll Free: 855-558-0335     investor@precipitategold.com

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.