TriStar Gold Announces Changes to Board of Directors

Rhea-AI Summary

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.

Positive

• Appointment of experienced mining professional Marcus Brewster to Board of Directors
• Brewster brings specific expertise in paleoplacer gold mines management
• Retention of founder Mark Jones III as Chairman Emeritus maintaining valuable industry connections

Negative

• Loss of COO position with Brewster's transition to Board role
• Ongoing regulatory challenges with Prior License for Castelo de Sonhos project

Scottsdale, Arizona--(Newsfile Corp. - November 14, 2024) - TriStar Gold Inc. (TSXV: TSG) (OTCQB: TSGZF) (the Company or TriStar) is pleased to announce that Marcus Brewster has accepted an offer to join TriStar Gold's Board of Directors. In addition to joining the Board, Marcus will step down as the Company's Chief Operating Officer effective December 4, 2024. Additionally, Mark Jones III has been appointed Chairman Emeritus in recognition of his significant role in founding the Company.

Mr. Brewster is a geologist and mining engineer who has specific experience in both technical and managerial positions operating large scale paleoplacer gold mines. This includes progressively more senior roles at the Tarkwa and Damang Gold Mines in Ghana, ultimately becoming the General Manager at Damang. His language skills include English (native), plus German, Swiss German, Portuguese, and French. It is anticipated that Mr. Brewster's appointment as a director will be approved by a directors' resolution following completion of the Company's Annual General Meeting (the "AGM") on December 2, 2024, and that his appointment will be in addition to the six management nominees proposed as directors in the information circular for the AGM.

Mark Jones III has been appointed Chairman Emeritus in recognition of his role in founding the Company, his time as CEO of the Company and his ongoing commitment to the wellbeing of TriStar Gold. Mark has been associated with several mining companies including Brazauro Resources Corporation, where he served as founder and Chairman (acquired by Eldorado Gold Corporation in 2004); Crown Resources, where he was founder and a director (acquired by Kinross Gold in 2006); and Arequipa Resources, where he served as a director (sold to Barrick Gold for C$1 billion). Prior to 1984, Mark was involved in the investment banking business as a partner in Jones Lloyd & Webster.

"I would like to thank Mark Jones for his immense contribution to TriStar Gold over the past 15 years," says Nick Appleyard, TriStar's President and CEO. "We look forward to his continued contribution as Chairman Emeritus. We'd also like to thank Marcus Brewster for his service as COO and his contributions as we advanced the Castelo de Sonhos gold project through the permitting process and towards a feasibility study. The team we have in place at TriStar will support us in his transition from the management team onto the Board and we look forward to continuing to work with Marcus as a Director."

Public Prosecutor Requests Response

TriStar has been working on our response to the prosecutors' approach to Pará Secretariat for the Environment and Sustainability (SEMAS) in defense of the Prior License (LP Permit) for the Castelo de Sonhos gold project in Pará State issued in August 2024. Please see the Company's press release dated October 1, 2024 for additional details on the requests received from a Federal Public Prosecutor to government regulators, including SEMAS. The Company is waiting for confirmation that the regulators have responded and the contents of their response. TriStar will update the market as new information is available.

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:

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 election of directors at the AGM, and Mr. Brewster's anticipated appointment as a director. 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/229902

FAQ

When will Marcus Brewster step down as COO of TriStar Gold (TSGZF)?

Marcus Brewster will step down as COO of TriStar Gold effective December 4, 2024.

What is Marcus Brewster's new role at TriStar Gold (TSGZF)?

Marcus Brewster is joining TriStar Gold's Board of Directors, with his appointment expected to be approved following the AGM on December 2, 2024.

What happened to Mark Jones III's position at TriStar Gold (TSGZF)?

Mark Jones III has been appointed Chairman Emeritus in recognition of his role as founder and former CEO of TriStar Gold.

When was the Prior License for Castelo de Sonhos project issued to TriStar Gold (TSGZF)?

The Prior License (LP Permit) for the Castelo de Sonhos gold project was issued in August 2024.