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TriStar Gold Inc. (TSGZF) is an exploration and development company focused on precious metals properties in the Americas with a current flagship property, Castelo de Sonhos in Pará State, Brazil. The company recently closed its non-brokered private placement, raising significant gross proceeds. TriStar has obtained significant approvals, including the Preliminary License (LP) and Environmental Impact Assessment (EIA) for the Castelo de Sonhos project, marking a milestone achievement for the company's future growth. The company aims to unlock shareholder value through sustainable development and strategic initiatives.
TriStar Gold (TSXV: TSG) (OTCQB: TSGZF) has received positive responses from Brazilian government regulators regarding its Castelo de Sonhos gold project. The company's Preliminary License (LP permit) received in August 2024 remains valid and unrestricted. The Pará Secretariat for Environment and Sustainability (SEMAS) has provided a strong technical defense of the permitting process in response to inquiries from the Federal Public Prosecutor. TriStar has also defended its permitting process, demonstrating comprehensive consideration of potential mining impacts. The company is now exploring financing options to proceed with required drilling and feasibility studies toward a construction decision.
TriStar Gold (TSXV: TSG) (OTCQB: TSGZF) has announced two significant leadership changes. Marcus Brewster, a geologist and mining engineer with extensive experience in large-scale paleoplacer gold mines, has joined the Board of Directors effective December 4, 2024. Brewster brings valuable expertise from his roles at Tarkwa and Damang Gold Mines in Ghana, where he served as General Manager at Damang.
Additionally, Jessica Van Den Akker, a current TriStar Director and Chartered Professional Accountant with 20 years of resource sector experience, will serve as interim CEO during Q1 2025 while current President and CEO Nick Appleyard takes medical leave. Van Den Akker's background includes significant experience in financings, mergers and acquisitions, and implementing operational and financial reporting processes.
TriStar Gold announces key board changes with Marcus Brewster joining as Director while stepping down as COO effective December 4, 2024. Mark Jones III has been appointed Chairman Emeritus in recognition of his founding role and past service as CEO. Brewster, a geologist and mining engineer with extensive experience in paleoplacer gold mines, will be formally appointed following the AGM on December 2, 2024. The company is currently working on responding to prosecutors' requests regarding the Prior License for the Castelo de Sonhos gold project in Pará State, issued in August 2024.
TriStar Gold Inc. (TSXV: TSG) (OTCQB: TSGZF) has acknowledged recommendations from a Federal Public Prosecutor regarding the recently issued Preliminary License (LP) for the Castelo de Sonhos gold project in Brazil. These non-binding recommendations, directed at various government regulators, suggest suspending the LP pending additional archaeological and Indigenous Component Studies.
The company is confident in the comprehensive process used to obtain the LP, citing strong stakeholder support evidenced at a well-attended and positive public hearing in 2023. TriStar is addressing the concerns raised and is in contact with relevant authorities. The company believes that some of the MPF's technical concerns are already addressed in the LP's conditions.
CEO Nick Appleyard stated that while these concerns could have been discussed earlier, the company remains confident in the robustness of their Environmental Impact Assessment and the project's potential benefits to the community. TriStar is cooperating with all parties to resolve concerns quickly.
TriStar Gold Inc. (TSXV: TSG) (OTCQB: TSGZF) has received the Licença Prévia (Preliminary License or LP) for its Castelo de Sonhos gold project in Brazil from the Pará Secretariat for the Environment and Sustainability (SEMAS). This milestone significantly derisks the project and positions TriStar for advancement to the feasibility study stage. The LP, the first of a three-stage environmental licensing process, is important as it involves approval from various government agencies and stakeholders.
CEO Nick Appleyard views Castelo de Sonhos as potentially the next 100,000+ ounce per year gold mine in Brazil. The company plans to proceed with de-risking studies, including feasibility and advanced engineering, leading to a construction development decision. TriStar will host a webinar on September 5th to discuss this development. Additionally, the company has granted 3,250,000 incentive stock options to directors, officers, employees, and consultants at $0.195 per share, expiring on August 28, 2029.
TriStar Gold (TSGZF) announced that the Pará State Environmental Council (COEMA) approved the Preliminary License (LP) and Environmental Impact Assessment (EIA) for its Castelo de Sonhos gold project in Brazil on June 11, 2024. The final issuance of the LP awaits internal processes by the Secretariat for the Environment and Sustainability (SEMAS). The approval was unanimous and follows extensive efforts by TriStar's team and support from various local organizations.
CEO Nick Appleyard praised the team and highlighted the project's potential to unlock shareholder value, alongside their commitment to sustainable development in the region. TriStar's shares trade on the TSX Venture Exchange (TSG) and OTCQB (TSGZF).
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