TriStar Recommences Castelo de Sonhos Drilling Program Closes Second Tranche of Private Placement
March 31, 2014
Houston, TX – TriStar Gold Inc. (the “Company” or “TriStar”) has commenced its third phase drilling program at Castelo de Sonhos gold project in Para State, Brazil. The minimum 4,000 meter drill program will be conducted by Layne do Brasil Ltda. with two drill rigs which are presently on site. The focus of the drill program will be the Esperança South target. The 2014 drill program will be predominantly infill drilling to establish the parameters to support the company’s report to be filed with the Brazilian mining authorities. This report is to be filed prior to August 2014 and will form part of the supporting documentation for conversion of the Company’s exploration license to an exploitation license.
A portion of the 2014 drilling will target the deep continuation of the mineralization at Esperança South target. As results are received additional drilling may be carried out in other areas of interest.
The company has closed the second and final tranche of its private placement announced January 16, 2014. The placement raised a total of $2,232,950 by the issue of 22,329,500 units (“Units”) at $0.10 per Unit consisting of one common share and one share purchase warrant (“warrant”). Each Warrant entitles the holder to purchase one additional share at the price of $0.13 per share for a period of 18 months from the date of issue. The shares and any shares purchased on exercise of the second tranche Warrants will be subject to a hold period until July 29, 2014.
TriStar Gold is a gold exploration company focused on high-potential properties in Brazil. In addition to Castelo de Sonhos, TriStar holds another exploration project in the Tapajós district known as the Bom Jardim Property. The Company’s shares are listed on the TSX Venture Exchange under the symbol TSG-V. Further information is available at www.Tristarau.com
For further information, please contact:
TriStar Gold Inc.
Mark Jones III
Chairman and CEO
Neither 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. 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 forwardlooking 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. 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.