Precipitate Gold Provides Dominican Republic Progress Update

Precipitate Gold Corp. (the "Company" or "Precipitate") (TSX VENTURE:PRG) is
finalizing, and expects to execute shortly, the formal contract with the vendors
as announced August 16th to acquire 100 percent interest in two concession
applications located in western Dominican Republic.


Precipitate has acquired regional data and satellite imagery for the two
concession areas. Evaluation of this data has highlighted a number of structural
lineaments and color anomalies that will be investigated during a preliminary
reconnaissance program. An initial program of geological mapping, prospecting,
silt and or bulk leach extractable gold (BLEG) sampling is currently being
designed. The primary focus of this early exploration phase will be the
prospective Tireo formation lithologies found within the northeastern region of
the Juan de Herrera concession application area. This will be followed by ridge
and spur and detailed sampling and contour and grid soil sampling. Precipitate
is also investigating the use of airborne and ground geophysics to aid in
mapping and target definition. With $1.8 million in working capital, Precipitate
is well positioned to cover all near term exploration expenditures planned for
its newly acquired Dominican Republic assets.


Darcy Krohman, Precipitate's CEO commented that "We are rapidly assembling a
comprehensive data base for the Tireo Project area that will give us a strong
footing to work from. The addition of historical data from GoldQuest and initial
field observations from our VP Exploration will allow us to hit the ground
running early in Q4 and start defining and refining gold targets on this
exciting new project."


Precipitate's VP Exploration and Technical Advisor are travelling to the Juan de
Herrera concession this month to carry out initial ground proofing and set up
logistical support for the detailed exploration programs to follow. GoldQuest
Mining (GQC-V) is generating a list of historical samples from within the Juan
de Hererra concession area taken by GoldQuest during its reconnaissance programs
in the Tireo Formation region. This sample list will be used to finalize the
data acquisition agreement between Precipitate and GoldQuest.


Additional information can be viewed within Precipitate's recently updated
corporate presentation, which includes geological maps and other reference
material: www.precipitategold.com.


Precipitate is focused on exploring and developing its gold properties in the
Dominican Republic and northwestern Canada. The Company continues to review
opportunities in both these and other geological and geopolitically attractive
jurisdictions. With a proven management team, a growing portfolio of quality
gold assets, including a prospective concession adjacent to GoldQuest's Tireo
holdings in the Dominican Republic, and $1.8 million in working capital, the
Company is well positioned for continued growth in 2012.


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

Darcy Krohman, President & CEO

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 labor 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.