TriStar Gold

2024 should be a transformational year as TriStar moves on from the critical but subdued work of permitting into the last phases of development and towards construction. This will also be the time when we consider all forms of offers to assist in getting this exciting project into production.

The 2021 PFS defined a simple open pit operation that returned a post-tax NPV5% of US$321 million at $1,550 gold and IRR of 28%. The project is in a farming region, adjacent to all the required infrastructure and with easy access to airports and ports, making it an ideal place to permit a mine. With strong community and local government support, the 2023 permitting milestones were achieved seamlessly.

TriStar has a Board of Directors ready to take this medium to large scale project through development and on the road to production. Tristar Gold is committed to a transparent approach to responsible development and mining while fostering a safe workplace for our employees and contractors. Beyond reflecting our values, this commitment to sustainability acknowledges the significant and growing desire within society to see companies focus on ESG. Minimizing environmental impacts and externalities is core to our approach, while maintaining open and respectful relationships with communities and regulators to ensure that benefits from our operations can flow through partnerships that are enduring and impactful.

Risks that are specific to TriStar gold and Castelo de Sonhos include:

Permitting Risk: The timely receipt of the LP permit. This is now mostly out of our hands and with the environmental authorities, and although we are highly optimistic, mine permitting is never guaranteed.

Technical Risk: TriStar envisages a 20,000m infill drill program as part of the feasibility study to confirm short range continuity, there is never a guarantee that drilling will return the results anticipated. The feasibility study itself will have a new result that is at this time unknown, but obvious risk factors will include price escalation and gold revenue factors.

Capital Market Risk: Whilst TriStar has sufficient funds for the short to medium term, additional funds will be required to complete the development plans. There is no guarantee that additional funds will be available or, if they are, what the terms may be.