PRG Precipitate Gold Corp

Precipitate Gold Corporation (the "Company" or "Precipitate") (TSX VENTURE:PRG)
is pleased to announce that further to its Fireside Property Option Agreement
with Strategic Metals Ltd. ("Strategic"), signed April 14, 2011, a Replacement
Agreement has been executed between the companies whereby, in consideration of
previously completed cash payments, share issuances, and incurred expenditures,
Precipitate and Strategic have agreed that: 




1.  Precipitate is now deemed to have fully exercised its option and
    completed the acquisition of a 100% interest in the Reef, Papua, and
    Borneo properties in southeast Yukon, subject to a 2% net smelter return
    ("NSR") to Strategic; 
2.  Precipitate is deemed to have terminated the option on 14 remaining
    Fireside properties, with Strategic retaining its 100% interest in those
    claims; and 
3.  No further payments or expenditures are required by Precipitate, with
    all considerations made to date constituting completion of the
    Replacement Option.



By terminating the original Fireside Agreement, Precipitate has eliminated a
$1.3 million expenditure commitment previously required for Precipitate to earn
a 100% interest in any of the Fireside projects. Precipitate continues to hold
four other wholly owned projects in the region, acquired by staking.


Jeff Wilson, Precipitate's President and CEO commented "We're pleased with the
completion of the Replacement Agreement as it concludes the acquisition of the
three projects we most coveted in the Fireside agreement. By eliminating the
remaining $1.3 million expenditure, we can allocate our exploration expenditures
efficiently in continuing our activities in the Tireo belt in the Dominican
Republic and Sonora State, Mexico. Strategic has been a great partner, providing
support and vast experience in the Yukon and northern British Columbia.
Strategic continues to be a valued associate and shareholder of Precipitate." 


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

Jeffrey Wilson, 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 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.
Daniel Caamano
Investor Relations
604-558-0338 or Toll Free: 855-558-0335
investor@precipitategold.com
www.precipitategold.com

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