PRG Precipitate Gold Corp

Precipitate Gold Corp. (the "Company" or "Precipitate") (TSX VENTURE:PRG) is
pleased to announce it has reached an agreement with Gexplo S.R.L. and Santo
Mining Corp. (together the "Vendor") whereby Precipitate will acquire a 100%
interest in two concession applications in the Dominican Republic in exchange
for a 2% net smelter royalty and the granting of 100,000 Precipitate share
purchase warrants exercisable for up to three months at an exercise price of
$0.30 per share. 


The two concession applications, named "Richard" and "David", cover an area of
220 and 1,400 hectares respectively. The David concession is located on the
north central border of Precipitate's Juan de Herrera concession within the
Tireo Gold Camp and greatly increases Precipitate's prospective Tireo
landholdings. The Richard concession is located about four kilometres southeast
of Barrick and Goldcorp's Pueblo Viejo Gold Mine site. See attached figures
(http://media3.marketwire.com/docs/NR_David_Richard_Acquisitions.pdf) for
respective concession locations or visit the Company's website at
www.precipitategold.com. 


Jeffrey Wilson, Company President & CEO stated, "We are pleased to acquire these
two concession applications. Both the David and Richard concessions have
compelling technical and strategic importance. The David concession provides the
Company with a significant increase of the preferred and prospective Tireo
formation target rocks, while the Richard concession gives Precipitate a
strategic new land position in a world-class modern gold mining camp. With the
Vendor shifting its focus to other property interested in Mexico and Africa, we
are pleased with the non-cash acquisition terms for these concessions and thank
the Vendor for its cooperation in this process." 


Richard Concession 

The Richard concession is located 4 kilometres to the southeast of Barrick Gold
Corp. and Goldcorp's Pueblo Viejo Gold-Silver mining camp. The Pueblo Viejo high
sulphidation epithermal gold and silver deposit hosts an estimated 22.0 million
ounces of gold and 117.0 million ounces of silver and is expected to produce up
to 1.0 million ounces gold this year. The Company's newly acquired Richard
concession is underlain by the same Cretaceous age Los Ranchos formation rocks
that host the Pueblo Viejo deposit.


David Concession 

The David concession is situated in the emerging Tireo Gold-Silver-Copper
exploration camp adjacent to the Company's existing Juan de Herrera concession
where Precipitate has been exploring in recent months. David is dominantly
underlain by regionally favourable Cretaceous age Tireo formation rocks which
are part of the same regional stratigraphy that hosts GoldQuest Mining's Romero
discoveries and Precipitate's Ginger Ridge and Melchor zones. The addition of
the David concession application gives the Company contiguous exposure to the
Tireo along the southern boundary of the neighbouring Goldquest concessions
including areas in close proximity to Precipitate's Melchor and Goldquest's
Jengibre discoveries.


The Vendor conducted preliminary stage exploration work on both concessions,
including rock, silt and soil sampling. Precipitate is reviewing this newly
acquired technical data which will provide guidance to the next exploration
phase on these new concessions. The Company's total Dominican land package now
covers about 14,829 hectares, in both application and fully granted stages.


Agreement Terms:

Precipitate can acquired a 100% interest in the Richard and David concession
applications, and will assume all application obligations, in a non-cash
transaction whereby Precipitate will grant the Vendor:




--  a 2% net smelter royalty ("NSR") on each of the concessions. The NSR can
    be purchased by Precipitate for the price of US$500,000 per 0.5% for a
    total purchase price of US$2,000,000; and 
    
--  100,000 share purchase warrants ("Warrants") allowing the Vendor to
    purchase up to 100,000 common shares of the Company at an exercise price
    of $0.30 per share for up to 3 months from the date of grant. Should the
    Vendor exercise any of the Warrants and thereafter seek to sell some or
    all of the shares, it must notify Precipitate and allow Precipitate at
    least 10 calendar days to arrange buyers of the shares. Any warrant
    shares purchased by the Vendor will be subject to a four month hold
    period. 



In advance of any transfer of rights or delivery of payment, the agreement
grants Precipitate a 30 day due diligence period during which the Company will
seek consent of the transfer from the Ministry of Industry and Commerce of the
Dominican Republic and review all technical and legal data related to the
concessions. Upon satisfactory completion of the due diligence period,
Precipitate will advise the Vendor of its decision to complete, or not complete
the transfer. The agreement is also subject to TSX Venture Exchange approval.


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 and Sonora State, Mexico. The Company also maintains assets
in northern British Columbia and southeast Yukon Territory and is 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 Corporation,

Jeffrey Wilson, President & CEO

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. 


FOR FURTHER INFORMATION PLEASE CONTACT: 
Precipitate Gold Corp.
Jeffrey Wilson
President & CEO
604-558-0335 or Toll Free: 855-558-0335
investor@precipitategold.com
www.precipitategold.com

Precipitate Gold (TSXV:PRG)
過去 株価チャート
から 5 2024 まで 6 2024

Precipitate Gold (TSXV:PRG)
過去 株価チャート
から 6 2023 まで 6 2024