TriStar Gold - LP Permit Received, Setting the Stage for Development

Scottsdale, August 29, 2024 - TriStar Gold Inc. (TSXV: TSG) (OTCQB: TSGZF) (the Company or TriStar) is pleased to announce that the Pará Secretariat for the Environment and Sustainability (SEMAS) has issued the Licença Prévia (Preliminary License or LP) for the Castelo de Sonhos gold project in Brazil.

"Following the previously announced approval by Pará State Environmental Council (COEMA) we have now received the LP, a true milestone for TriStar that derisks and sets us apart from many other mine developers. We are now ready to move forward, having the necessary permits in hand to advance the feasibility study, including the operating license for drilling and vegetation clearing authorization amongst others," says Nick Appleyard, TriStar's President and CEO. "We can all see that Brazil has become a major mine development hub, with more mines built recently than any other comparable jurisdiction. Given the success of G Mining, Hochschild Mining, Ero Copper and Aura Minerals, all of whom have permitted, built and are now operating fantastic mines in Brazil, I see Castelo de Sonhos as the next plus 100,000 ounce per year gold mine for Brazil, with all the benefits that will stream to the regional economy."

The Preliminary License (Licença Prévia in Portuguese) represents the first of a three-stage environmental licencing process required for mining projects in Brazil. The LP is the most critical stage of permitting as it involves input and approval from several government agencies as well as local stakeholders, communities and details the environmental, social, and economic impacts and benefits of the project.

Next steps for the Castelo de Sonhos project involve further de-risking studies including feasibility and advanced engineering, leading to an ultimate construction development decision.

Webinar

Nick Appleyard, TriStar's President and CEO, will participate in a webinar hosted by Adelaide Capital at 3:00pm ET on Thursday, September 5th.

Participants can register here: https://streamyard.com/watch/aKrp2FSBjSaJ.

The webinar livestream will also be available to watch on the Adelaide Capital YouTube Channel, where a replay will be posted after the event: https://bit.ly/adcap-youtube.

Employee Incentive Stock Options

TriStar has also granted incentive stock options exercisable to purchase a total of 3,250,000 of its shares at a price of $0.195 per share to directors, officers, employees and consultants, subject to the terms of its current stock option plan.

These options will expire August 28, 2029.

About TriStar

TriStar Gold is an exploration and development company focused on precious metals properties in the Americas that have the potential to become significant producing mines. The Company's current flagship property is the Castelo de Sonhos gold project in Pará State, Brazil. TriStar has completed a pre-feasibility study and is now working to advance the project towards a feasibility study while evaluating optimization options. The Company's shares trade on the TSX Venture Exchange under the symbol TSG and on the OTCQB under the symbol TSGZF. Further information is available at www.tristargold.com.

ON BEHALF OF THE BOARD OF DIRECTORS OF THE COMPANY:

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Forward-Looking Statements

Certain statements contained in this press release may constitute forward-looking statements under Canadian securities legislation which are not historical facts and are made pursuant to the "safe harbour" provisions under the United States Private Securities Litigation Reform Act of 1995. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "expects" or "it is expected", or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements in this press release include statements about the Company's development of the Castelo de Sonhos gold property. Such forward-looking statements are based upon the Company's reasonable expectations and business plan at the date hereof, which are subject to change depending on economic, political and competitive circumstances and contingencies. Readers are cautioned that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause a change in such assumptions and the actual outcomes and estimates to be materially different from those estimated or anticipated future results, achievements or position expressed or implied by those forward-looking statements. Risks, uncertainties and other factors that could cause the Company's plans to change include changes in demand for and price of gold and other commodities (such as fuel and electricity) and currencies; changes or disruptions in the securities markets; legislative, political or economic developments in Brazil; effects of the COVID-19 virus on all aspects of the Company's business, the need to obtain permits and comply with laws and regulations and other regulatory requirements; the possibility that actual results of work may differ from projections/expectations or may not realize the perceived potential of the Company's projects; risks of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in development programs; operating or technical difficulties in connection with exploration, mining or development activities; the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of reserves and resources; and the risks involved in the exploration, development and mining business. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/221501