Market Overview

TriStar Gold Drill Results and Exploration Update

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Scottsdale, Arizona--(Newsfile Corp. - June 4, 2020) - TriStar Gold Inc. (TSXV:TSG) (OTCQB:TSGZF) (the Company or TriStar) is pleased to announce the receipt of assays from 79 infill drill holes for 7,428m of drilling for the prefeasibility study at Castelo de Sonhos. Additionally, target generation work by GoldSpot Discoveries outside of the PFS area remains on track for completion of initial scope of work later this month. Phase one of this machine learning driven exploration program is anticipated to result in a combination of drill-ready exploration targets and recommendations for additional work to better validate and define the targets.

Highlights from the assays received this month include:

  • 22m @ 2.5g/t from 85-107m in RC-20-457, includes 2m @ 20.4g/t from 85-87m
  • 10m @ 1.3g/t from 32-42m in RC-20-459
  • 4m @ 2.5g/t from 60-64m in RC-20-468
  • 10m @ 2.2g/t from 21-31m in RC-20-479
  • 10m @ 3.2g/t from 51-61m in RC-20-513
  • 8m @ 6.9g/t from 70-78m in RC-20-524

All assays for the RC drilling completed to date are now in hand. A full table of results and drill cross-sections can be found on the Company website at www.tristargold.com. True widths are approximately 90% of the downhole lengths reported above.

"We are very pleased with these results, which include both higher grade intervals and significant thicknesses. Figure 1 shows how we are now seeing higher-grade continuity between drill holes that will aid in modeling and help target further drilling. With most of the resource drilling now complete the next step is the geological interpretation and modeling, this will be completed once our consultants can safely travel to the project," says Nick Appleyard, TriStar's President and CEO. "We anticipate reaching the end of the initial scope of work with GoldSpot Discoveries soon and plan to aggressively test the new targets as soon as possible thereafter. This will most likely include both RC and core drilling possibly aided by additional data collection such as portable XRF and geophysics."

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Figure 1: Drill hole plan map for Esperança South, showing
total sum of gram x meters of gold color coded for each hole.
The red and yellow coded holes highlight the continuous zones.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4509/57224_e67ba710a452db70_002full.jpg

Exploration Activities

The exploration work outside of the PFS area is focused on analysing remote sensing data over the CDS area, including magnetic signatures, radiometric data, topographic variation, and mineral abundance. These data are being variously combined to produce geologically meaningful data stacks. In turn, areas with known mineralization (e.g. from drilling or surface sampling), are used to identify the characteristic signature of rocks proximal to gold. As more data stacks become available, machine learning models are trained to look for similar gold-coincident signatures elsewhere on the property.

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Figure 2: Machine learning workflow, showing data stacks,
learning data from known mineralization and targets generated.

To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/4509/57224_e67ba710a452db70_003full.jpg

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/4509/57224_e67ba710a452db70_004.jpg

Figure 3: Location of the 79 drill holes referenced in this release.
All holes are vertical and generally to 120m depth.

To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/4509/57224_e67ba710a452db70_004full.jpg

QA/QC

All drill hole samples are analyzed using a fire assay analysis of the chips collected from the RC holes or core from diamond holes. Any sample that returns greater than 0.1 g/t gold is automatically submitted for a duplicate fire assay analysis and the average grade is used. Samples were transported by truck from the site to the ALS preparation lab in either Goiania or Belo Horizonte, Brazil, where they were dried, crushed, pulverized and packaged for shipment to the ALS analytical laboratory in Lima, Peru, Vancouver, Canada or Loughrea, Ireland.

The ALS preparation and analytical labs are accredited to ISO 17025:2005 UKAS ref 4028, and have internal QA/QC programs for monitoring accuracy and precision. In addition to this, TriStar uses standards, blanks and field duplicates in an external QA/QC program to provide independent monitoring of laboratory analyses.

Qualified Person

R. Mohan Srivastava (P.Geo.), Vice President of TriStar, is the Qualified Person who has reviewed the technical information contained in this news release, including data verification, and has approved its disclosure.

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 Castelo de Sonhos in Pará State, Brazil. The Company's shares are listed 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

For further information, please contact:

TriStar Gold Inc.
Nick Appleyard
President and CEO
480-794-1244
info@tristargold.com

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 plans to complete a pre-feasibility study on the CDS project, the results of further in-fill drilling on the CDS property, the ability of the Company to complete the current in-fill drilling program, the results of further exploration target identification and the anticipated 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.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/57224

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