Announcement • Jul 16
Precipitate Gold Corp. Announces Changes to Its Board, Effective from July 16, 2026 Precipitate Gold Corp. announced the appointments of Mr. Pelayo Troncoso and Mr. John Wenger, CPA, to the Company's Board of Directors, effective July 16, 2026. Mr. Troncoso is a Dominican Republic national and an accomplished investment executive and capital markets professional with extensive international experience in investment banking, asset management and corporate governance. He is the Co-Founder and Chief Executive Officer of Gamma International Bank, Gamma Securities and Gamma Asset Management, where he has led the rapid growth of the firm's investment management and capital markets businesses across the Dominican Republic, Puerto Rico, and the United States. Prior to co-founding Gamma, he held portfolio management positions with Credit Andorra Asset Management in Miami and currently manages the investment portfolio for a prominent Dominican family business group. Mr. Troncoso also serves on the boards and committees of several leading financial institutions and organizations in the Dominican Republic, including Parralax Valores Puesto de Bolsa and Bunker, and is a Founding Board Member of the Cmara de Comercio Dominico-Israel. He holds a Bachelor of Science in Management with concentrations in Finance and Economics from Boston College, is a Chartered Financial Analyst (CFA), and is licensed as a FINRA Series 7, 24 and 66 securities professional. Mr. Wenger is a seasoned mining finance executive and Chartered Professional Accountant with more than two decades of experience in financial reporting, corporate finance, regulatory compliance, and strategic transactions within the mining sector. He is currently the Chief Financial Officer of Miata Metals Corp. Prior to that Mr. Wenger served as VP Strategy and Chief Financial Officer of Contact Gold Corp. from 2017 until its acquisition by Orla Mining Ltd. in April 2024. Throughout his career, he has held senior executive and board positions with numerous publicly listed exploration and development companies, including Liberty Gold Corp., and Inflection Resources Ltd. His experience includes leading public company financings totaling more than $150 million, overseeing mergers and acquisitions, managing cross-border regulatory matters, and serving as Chair of Audit Committees for multiple public issuers. Prior to his industry roles, Mr. Wenger spent approximately a decade with Ernst &Young LLP, where he focused primarily on publicly listed mining clients in both Canada and the United States. New Risk • May 05
New major risk - Revenue and earnings growth Earnings have declined by 6.9% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 6.9% per year over the past 5 years. Shareholders have been substantially diluted in the past year (48% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Significant insider selling over the past 3 months (CA$433k sold). Market cap is less than US$100m (CA$92.8m market cap, or US$68.2m). 
