Precipitate Gold Signs Dominican Acquisition Agreement

Vancouver, B.C. -- October 2, 2012 - Precipitate Gold Corp (TSXV: PRG) announces that, further to its news release of August 16, 2012, it has executed the formal agreement to acquire 100% of the issued capital of 0945044 BC Ltd. a private company that owns a 100% interest in the Juan de Herrera and Higos Blancos gold exploration concession applications in the Dominican Republic through its wholly-owned subsidiary.

Upon receipt of TSX Venture Exchange acceptance of the acquisition, Precipitate will pay $60,000 to purchase the shares of 0945044 BC Ltd and will earn the rights to retain the shares by making staged share and cash payments and completing work commitments on the concessions over a three year period starting on the date the Juan de Herrera concession is granted, with any exploration expenditures made during the application period being credited against its obligations.

As noted in the Company's most recent news release dated September 26, 2012, the property vendors offered the company an additional concession, Hato Nuevo, which Precipitate has agreed to accept. The addition of this project to the agreement involves no additional consideration and will be added by simple amendment to the current agreement when the underlying paperwork is ready.

Michael Moore, Precipitate's VP Exploration commented that "We were excited to get on the ground at Juan de Herrera. The Tireo Belt has already proven itself as an outstanding gold host and we're eager to start fully exploring our holdings there. Concluding the property agreement clears the way for a larger program that should begin in mid-October."

Additional information can be viewed on the company's website. www.precipitategold.com.

Precipitate is focused on exploring and developing its gold properties in the Dominican Republic and northwestern Canada. Precipitate continues to review opportunities in both these and other geologically 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.

Michael Moore, VP Exploration of the Company and Qualified Person for purposes of National Instrument 43-101 has reviewed the technical information in this news release.

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

October 2, 2012 (Source: Precipitate Gold Corp.)

http://www.precipitategold.com/s/news.asp?ReportID=550817

Disclosure:  Precipitate Gold is a Vulture Bargain Candidate of Interest (VBCI). Members of the GGR team may hold long positions in PRG.V. The editor of GGR participated in a private placement for Precipitate Gold and holds a long position at the time of publication.