Scottsdale, Arizona--(Newsfile Corp. - June 13, 2023) - TriStar Gold Inc. (TSXV: TSG) (OTCQX: TSGZF) (the Company or TriStar) is pleased to announce positive permitting progress related to the Castelo de Sonhos gold project in Pará State, Brazil. A multi-disciplinary team from the Secretariat for the Environment and Sustainability (SEMAS) for Pará State has just completed the visit to site. Specialists from the regulator reviewed physical, biotic and socioeconomic aspects of the project, visiting the various areas where project infrastructure will be located, and speaking with multiple stakeholders and community leaders
Following completion of the Environmental Impact Assessment (EIA) report in July 2022, the request for the first stage of environmental licensing was lodged with SEMAS. TriStar was advised in April 2023 that the formal review of the EIA had commenced. EIA documents were published on the government website, and a date of June 4th, 2023, was set for the site visit as part of their review of the project.
Mr. Nick Appleyard, CEO, stated, "The permitting of the Castelo de Sonhos project continues to move forward, with this site visit being a major milestone. We are impressed with professionalism we see from SEMAS and the feeling of camaraderie where two teams work together to achieve the common goal of a transparent positive outcome for the state of Pará, the communities and people near Castelo de Sonhos, and the future of this fantastic project."
SEMAS has advised TriStar that now with the site visit complete, the next step in the licensing process is the completion of their review of the EIA. Following issuance of a formal notice a 45-day period will commence, during which project stakeholders have the opportunity to comment on the EIA and make requests related to the public hearing. SEMAS will then work with the Company to determine the best date for the public hearing that works both for SEMAS and the Company and allows for the optimal participation of project stakeholders.
Tristar also announces that we intend to request to the National Mining Agency (ANM) of Pará State to reduce our ANM Area 850.775 (see Fig 1 below). TriStar will retain 1,186 hectares of the original 10,000 hectare parcel for exploration and other purposes. The portion of the concession to be released had no identifiable exploration targets or interest for TriStar. This change reduces our holding costs and commitments and removes potential future liabilities.
Figure 1, plan map showing the reduced concession outline in purple.
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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 advancing permitting while evaluating optimization options. The Company's shares trade on the TSX Venture Exchange under the symbol TSG and on the OTCQX under the symbol TSGZF. Further information is available at www.tristargold.com.
ON BEHALF OF THE BOARD OF DIRECTORS OF THE COMPANY:
Nick Appleyard
President and CEO
For further information, please contact:
TriStar Gold Inc.
Nick Appleyard
President and CEO
480-794-1244
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 ability to complete the current drilling program, the results of further exploration target identification and the anticipated ongoing effects of the COVID-19 virus. 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.
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