Precipitate Targets Goldquest-Style Discovery Upside in Dominican Republic with 10,000m Drill campaign

• Precipitate Gold Corp. (TSXV:PRG) is advancing into active discovery drilling across two Dominican Republic projects in 2026, with up to 10,000 metres of drilling planned across multiple targets, backed by approximately $9 million in working capital.
• Both flagship projects, Juan de Herrera and Pueblo Grande, are situated adjacent to world-class gold-copper assets and Latin America's largest operations.
• A systematic, staged exploration program spanning 18,000 soil samples and follow-up induced polarisation geophysical surveys has de-risked multiple drill-ready targets, applying the same methodology proven effective on neighbouring Goldquest ground.
• Dominican institutional investors led a $6.5 million financing in January 2026 and now hold approximately 20% of the company, providing both financial backing and a credible signal of improving jurisdictional conditions under a more pro-mining Dominican government.
• Management points to a historically wide valuation gap between Precipitate and Goldquest as evidence of undervaluation, drawing a direct parallel to Goldquest's 2012 pre-discovery inflection point while arguing that current market, jurisdictional, and gold price conditions are materially more favourable.

Precipitate Gold (TSXV:PRG) is entering what management describes as the highest-leverage phase of a junior exploration company's lifecycle: active discovery drilling. With two projects adjacent to major known deposits, a systematic exploration methodology, and approximately $9 million in working capital, the Vancouver-based company is positioning itself ahead of an extended newsflow period that could span the balance of 2026. President and CEO Jeffrey R. Wilson outlined the company's strategy, financial position, and the jurisdictional context shaping its outlook.

Three Projects in Dominican Republic

Precipitate Gold holds three projects in the Dominican Republic, all 100% owned with no underlying payment or work commitments attached. The company completed a $6.5 million financing in January 2026, led by Dominican institutional investors who now represent approximately 20% of the share structure. Combined with prior cash, management believes the company is adequately funded to execute its planned exploration program without requiring an immediate return to the equity markets.

The two priority projects, Juan de Herrera and Pueblo Grande, occupy ground adjacent to two of the most significant gold-copper assets in the Caribbean. Juan de Herrera is situated next to Goldquest Mining's Romero deposit, a resource of approximately 3.5 million gold-equivalent ounces. Meanhile, Pueblo Grande surrounds Barrick Gold's Pueblo Viejo mine, one of Latin America's largest gold operations. In both cases, the geological setting is understood, the host rock types are confirmed, and the analog mineralization style of high-grade gold and copper is established.

Exploration Methodology: Building to the Drill Bit

Precipitate's approach at Juan de Herrera has followed a staged exploration model designed to reduce drilling risk and prioritise targets with the highest probability of hosting economic mineralisation. Over several years, the company collected approximately 18,000 soil samples across its 40-kilometre land package, mapping elevated gold and copper concentrations at surface. Targets in the 80th percentile and above for both metals were identified across multiple zones.

Those geochemical anomalies were then followed up with induced polarisation (IP) geophysical surveys to assess subsurface chargeability beneath the surface anomalies. The approach mirrors what has been observed on neighbouring Goldquest ground at both the Romero deposit and the more recently discovered Cachimbo zone, where strong chargeability at depth correlates directly with high-grade mineralisation.

Three primary zones have been advanced to drill-ready status at Juan de Herrera: the Ginger Ridge zone, the Jengibre South and Peak zones, and the Southeast zone. All three exhibit the same combination of elevated surface geochemistry and strong chargeability at depth. Wilson explained the logic behind the multi-stage methodology:

"This gives us a tool. This gives us an analog to say this is what we want to look for in this region. We want to look for gold and copper at surface and we want to follow that up with geophysics to see if we see chargeability beneath that."

Access route preparation and drill pad work is underway, with mobilisation expected in the coming months. The planned program contemplates up to 10,000 metres of drilling across multiple zones on both projects through the balance of 2026.

Interview with Jeff Wilson, President & CEO of Precipitate Gold Corp.

Pueblo Grande: Drilling Already Underway

While Juan de Herrera represents the company's flagship near-term drill story, Pueblo Grande is already in an active drilling phase. Situated adjacent to and largely surrounding Barrick's Pueblo Viejo operation, the project shares the same geological characteristics: gold and copper mineralisation at surface, confirmed through geochemical sampling, overlying a strong IP chargeability anomaly at depth.

Results from the current Pueblo Grande program are anticipated in the coming months. Management characterises this as a proof-of-concept phase, validating whether the chargeability signal at depth corresponds with economic-grade mineralisation, in a location only hundreds of metres from one of Latin America's largest producing gold mines.

Jurisdictional Context: The Dominican Republic

The Dominican Republic has historically been viewed as a prospective but administratively complex jurisdiction for junior miners. Both Precipitate and Goldquest experienced protracted timelines through the mid-2010s and into the early 2020s as the government worked through permitting frameworks and community engagement processes. COVID-19 further delayed exploration activity across the region.

That dynamic has shifted materially over the past 18 to 24 months. The Dominican government has adopted a more explicitly pro-mining posture, with faster permitting and greater bureaucratic responsiveness to project advancement. The clearest evidence of that shift has been the willingness of Dominican institutional capital. Investors with direct knowledge of and influence within the local political and regulatory environment make substantial investments in Canadian-listed companies operating in the country.

Wilson framed the jurisdictional change as central to the company's current opportunity:

"We're in a market now where the gold market has significantly changed and improved. We're in a jurisdiction where we feel like there's strong support and a will to see these projects advance because they want mining to become a more significant part of their economy."

Valuation Perspective: The Historical Ratio

Wilson highlighted a 13-year comparative chart of Goldquest and Precipitate share prices to illustrate what he sees as a persistent undervaluation. For most of that period, the two companies traded in close proximity on a ratio basis, despite Goldquest carrying the resource asset. The recent divergence of Goldquest's re-rating significantly while Precipitate has only partially followed is the valuation gap the company aims to close through exploration success.

Wilson encapsulates the opportunity:

"We're at the precipice of that point in time right before Goldquest jumps from nearly $0.02 cents to $2 but in a much better market environment and a much better jurisdictional environment where we think the reward for discovery success can be exponentially higher."

Management draws a direct parallel: Precipitate, with multiple drill-ready targets and capital in hand, believes it is positioned at a comparable inflection point, but with better market conditions, a more supportive jurisdiction, and a gold price environment that did not exist in 2012.

The Investment Thesis for Precipitate Gold

• Proximity to proven mineralisation: Precipitate Gold's flagship projects border world-class assets which confirms the geological setting and reducing conceptual risk.
• Drill-ready targets across two projects: Up to 10,000 metres of planned drilling across multiple zones in 2026, with active drilling already underway at Pueblo Grande and preparation advancing at Juan de Herrera. Multiple targets provide multiple opportunities for discovery.
• Systematic exploration de-risks the program: 18,000 soil samples and follow-up IP geophysics have identified zones where surface geochemistry and subsurface chargeability align which is the same methodology that has worked on neighbouring Goldquest ground.
• Strong treasury with limited dilution risk: Approximately $9 million in working capital with around $5 million in in-the-money warrants held by supportive investors provides a credible runway through the 2026 drill program without near-term financing pressure.
• Institutional validation from informed capital: Dominican institutional investors with direct knowledge of the regulatory environment have taken a 20% position, providing both financial backing and jurisdictional credibility.
• Improving jurisdictional conditions: A pro-mining government, faster permitting, and demonstrated project advancement by Goldquest signal that the Dominican Republic is open for business in a way it has not been in over a decade.
• Historical valuation gap: Precipitate has historically traded in line with Goldquest on a ratio basis. A meaningful gap has opened, and management believes exploration success could close it materially.
• High gold price environment: Gold's current price environment provides an unusually strong backdrop for junior exploration discoveries to be rewarded by markets. Discovery in a high gold price cycle historically generates outsized returns.

Gold Discovery in Emerging Mining Jurisdictions

The gold market's extended bull cycle has renewed investor interest in junior exploration, but capital allocation within the sector has become increasingly selective. Investors are prioritising jurisdictions with improving regulatory frameworks, projects adjacent to known deposits, and companies that can demonstrate a credible pathway to discovery with funded drill programs. The Dominican Republic is emerging as a case study in how a jurisdiction can re-rate both at the project level and in terms of investor confidence when government policy and institutional capital align.

For much of the past decade, the Caribbean nation's mining potential was broadly acknowledged but underweighted by the market due to permitting uncertainty and the absence of a producing mine to serve as proof of concept. That is now changing. Goldquest's Romero deposit approaching feasibility and environmental approval is demonstrating that a project can move from discovery through development in the Dominican Republic within a commercially relevant timeframe. The government's more engaged stance on mining as an economic development tool has further reinforced that confidence.

At the macro level, the timing intersects with a gold price environment that historically has delivered the most significant returns to early-stage explorers. Discovery-stage companies, when they encounter economic mineralisation in a bull market for the underlying commodity, have generated some of the most asymmetric returns in the resource equity sector. The caveat is that the majority of exploration programs do not result in commercial discovery, and investors must weigh that base rate against the quality of the geological setup.

TL;DR

Precipitate Gold (TSXV:PRG) is a fully funded junior explorer in the Dominican Republic drilling up to 10,000 metres across two projects in 2026. Both projects sit adjacent to world-class gold-copper operations Goldquest's Romero deposit and Barrick's Pueblo Viejo mine. The company has systematically de-risked multiple targets through 18,000 soil samples and IP geophysics, and is now putting the drill bit to those targets. With $9 million in working capital, Dominican institutional investors validating the jurisdiction, and a historically wide share price gap relative to neighbour Goldquest, management believes the company is at a pivotal inflection point in a gold market more supportive than at any time in the company's history. Assay results from both projects are expected progressively through 2026.

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