TriStar Gold CEO Resumes Role

Rhea-AI Summary

TriStar Gold (TSXV: TSG) (OTCQB: TSGZF) announces the return of President and CEO Nick Appleyard from leave effective April 1, 2025, while Jessica Van Den Akker, who served as Interim CEO, continues as a Director.

The company provides an update on their Castelo de Sonhos gold project in Brazil, confirming no additional support for a Federal Public Prosecutor's previous requests to government regulators. The Pará Secretariat for Environment and Sustainability (SEMAS) has demonstrated strong support for the project's permitting process.

The Preliminary License received in August 2024 remains valid without restrictions as the company explores financing options to advance the project through drilling and feasibility stages toward a construction decision.

Positive

• Preliminary License for Castelo de Sonhos remains valid with no restrictions
• Strong regulatory support from SEMAS for project permitting
• No additional backing for Federal Prosecutor's concerns

Negative

• Project still requires financing to advance through drilling and feasibility stages

Scottsdale, Arizona--(Newsfile Corp. - April 2, 2025) - TriStar Gold Inc. (TSXV: TSG) (OTCQB: TSGZF) (the Company or TriStar) is pleased to confirm that TriStar President and CEO Nick Appleyard has returned from leave effective April 1, 2025. Please see the Company's December 6, 2024 press release for details. Jessica Van Den Akker, who has assumed the role of Interim CEO during Nick's absence, is continuing her role as a Director of TriStar.

In addition, the Company is also providing an update on the requests from a Federal Public Prosecutor to the government regulators related to TriStar's Castelo de Sonhos gold project in Brazil: see the Company's press release from October 1, 2024 for details. TriStar is pleased to confirm that there has not been any additional support for the Prosecutor's position. The Pará Secretariat for the Environment and Sustainability (SEMAS), TriStar's principal regulator, has shown strong support for the permitting process completed at Castelo de Sonhos; please see the Company's press release from December 19, 2024, for details of the response from regulators.

"I remain confident in the robust permitting process completed at Castelo de Sonhos and see the support for this Project from SEMAS and the community as a testament to the potential benefits it could deliver," says Nick Appleyard, TriStar President and CEO. "Our Preliminary License for Castelo de Sonhos was received in August 2024 and remains valid with no restrictions in place as we continue to look at financing options to advance the Project through drilling and feasibility to a construction decision. I would also like to thank TriStar Director Jessica Van Den Akker for assuming the interim CEO role during my absence and ensuring business continuity during this important time."

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. 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/247021

FAQ

What is the current status of TriStar Gold's (TSGZF) Castelo de Sonhos project permits in Brazil?

The Preliminary License received in August 2024 remains valid with no restrictions, with strong support from SEMAS (Pará environmental regulator).

When did Nick Appleyard resume his position as CEO of TriStar Gold (TSGZF)?

Nick Appleyard returned as President and CEO effective April 1, 2025.

What are the next steps for TriStar Gold's (TSGZF) Castelo de Sonhos project?

The company is exploring financing options to advance the project through drilling and feasibility stages toward a construction decision.

How has the Brazilian regulatory environment responded to TriStar Gold's (TSGZF) Castelo de Sonhos project?

SEMAS has shown strong support for the permitting process, with no additional support for the Federal Public Prosecutor's previous concerns.