SCOTTSDALE, Ariz., Feb. 12, 2018 (GLOBE NEWSWIRE) -- TriStar Gold Inc. (the “Company” or “TriStar”) (TSX:TSG) is pleased to announce the formation of an advisory committee. The team is comprised of Dr. Rael Lipson, Dr. Martin Williams and Mr. Stephen Kay.
“It is a pleasure and an honour for us at TriStar to welcome Rael, Martin and Steve to our advisory committee,” says Nick Appleyard, TriStar’s President and CEO, “together they bring such a great depth and breadth of industry knowledge that complements the experienced management team and board at TriStar.”
Dr. Rael Lipson was the chief geologist for Gold Fields South Africa and is now a consultant as well as adjunct faculty at the Colorado School of Mines. Mr. Stephen Kay, now retired, is a geologist and was the CEO and President of International Minerals Corp. for over 20 years, his experience includes involvement from discovery through project development and financing of gold and silver deposits, predominantly in South America. Dr. Martin Williams is a Chief Advisor - Geochemistry with Piteau Associates and has experience providing advice on mine water management issues to most of the world’s major mining corporations.
In connection with his appointment to the committee Mr. Kay has been granted 100,000 stock options. The options may be exercised at a price of Can $0.28 per common share. The grant of the options remains subject to the approval of the TSX Venture Exchange.
On January 25, 2018 TriStar announced the closing of a private placement for gross proceeds of Can $ 2.86 million. TriStar intends to use these funds for general corporate purposes and to advance the Castelo de Sonhos (CDS) project.
In order to advance Castelo de Sonhos two drill rigs are being mobilized to site. A reverse circulation (RC) rig that will drill approximately 4,000m and a small portable core rig that will drill approximately 1,000m. The aim of the drill program will be to increase the resource base at CDS with the portable core rig drilling in locations that are hard to access for the large RC rig.
TriStar Gold is an exploration and development company focused on precious metals properties in the Americas that have 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. Further information is available at www.tristargold.com.
For further information, please contact:
TriStar Gold Inc.
President and CEO
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.
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, the scope and success of the planned exploration program at the Castelo de Sonhos project and the Company's opinion that it has clear title to the Castelo de Sonhos property 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; 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.