Precipitate Gold Appoints Technical Consultant

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 30, 2012) - Precipitate Gold Corp (TSX VENTURE:PRG) ("Precipitate" or the "Company") is pleased to announce that it has appointed James Campbell Graham as a technical consultant. Mr. Graham stated, "I am excited to return to the Dominican Republic and help advance a large concession covering so much prospective geology. The Tireo Belt is a great exploration address and Precipitate's team of experienced and well-known geologists is the just the sort of group to tackle this project with."

Mr. Graham worked continuously in the Dominican Republic from 1996 to 1999, carrying out geophysical surveys on a number of projects with an emphasis on Induced Polarization, a method that has been particularly successful at targeting mineralization in the Tireo Gold Trend. Mr. Graham was integral to the completion of the recent letter agreement whereby the Company will be acquiring two mineral concession applications in the Dominican Republic, including the Juan de Herrera concession application that borders GoldQuest Mining Corp's Tireo Belt holdings. Mr. Graham will consult on an ongoing basis with regards to exploration planning, execution and interpretation. He will call on his high-level contacts in the Dominican Republic to help advance Precipitate's goal of making discoveries in this exciting new area.

Mr. Graham has been an international mineral exploration consultant for more than 20 years. He has been a key team member in projects ranging from initial exploration through to advanced development for resource companies operating in Canada, United States, Mexico and much of Latin America. Originally qualified in Geophysical Engineering, Mr. Graham holds Bachelor of Science (Honours) and Master of Engineering degrees from the Colorado School of Mines, is a Professional Engineer registered in the Province of British Columbia, and a "Qualified Person" in accordance with the Canadian National Instrument 43-101 - Standards of Mineral Disclosure for Mineral Projects. Mr. Graham is bilingual in English and Spanish.

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 prospective concessions 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

Darcy Krohman, President & CEO, Precipitate Gold Corp.

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.