Precipitate Grants Incentive Stock Options

Vancouver, British Columbia--(Newsfile Corp. - January 29, 2021) - Precipitate Gold Corporation (TSXV: PRG) (the "Company" or "Precipitate") announces that it has granted stock options to certain of its directors, officers and consultants to purchase up to 2,690,000 common shares. Each option is exercisable to acquire one common share of Precipitate at a price of $0.21 until January 29, 2026. The options will vest in accordance with the Company's stock option plan and are subject to TSX Venture Exchange acceptance.

About Precipitate Gold:

Precipitate Gold Corp. is a mineral exploration company focused on exploring and advancing its mineral property interests in the Pueblo Viejo Mining Camp and Tireo Gold Trend of the Dominican Republic. The Company is actively exploring its 100% owned Ponton and Juan de Herrera projects. The Company's Pueblo Grande Project is subject to an Earn-In Agreement with Barrick Gold Corporation, whereby Barrick can earn a 70% interest by incurring US$10M within six years and producing a qualifying Pre-feasibility Study. Precipitate is also actively evaluating additional high-impact property acquisitions with the potential to expand the Company's portfolio and increase shareholder value, in the Dominican Republic and other favourable jurisdictions.

Additional information can be viewed at the Company's website www.precipitategold.com^[1].

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 investor@precipitategold.com^[2]

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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/73241^[3]