TriStar Reports Positive Response by Regulators on Castelo de Sonhos
TriStar Reports Positive Response by
Regulators on Castelo de Sonhos
Scottsdale, Arizona--(Newsfile Corp. - December 19, 2024) -
TriStar Gold Inc.
(TSXV: TSG) (OTCQB:
TSGZF) (the Company or TriStar) is pleased to provide an update on the requests from a Federal Public
Prosecutor to government regulators related to the Company's Castelo de Sonhos gold project in Brazil;
see press release dated
October 1, 2024
, for the details of these requests.
The Company's LP permit for Castelo de Sonhos remains valid; also known as the Licença Prévia or
Preliminary License, it represents the most critical permitting milestone. The permit was received in
August 2024 (see press release dated
August 29, 2024
for details). The permit is in good standing and
there are no restrictions in place that would stop the project from moving forward.
The government regulators, including the Pará Secretariat for the Environment and Sustainability
(SEMAS), our principal regulator, have provided responses to the public prosecutor from the Federal
Public Prosecution Office (MPF). The regulators, and importantly SEMAS have provided a strong
technical defense of the permitting process and the results of the LP permit approval. TriStar has also
submitted a defense of the permitting process, showing how we not only applied the letter of the law but
in most areas, also went much further and made sure that all possible impacts from the planned future
mine were considered.
"We are very encouraged to see the strong show of support by SEMAS in defense of the robust
permitting process completed over the course of 2 years at Castelo de Sonhos and remain confident
that this process fully and accurately accounts for potential impacts of developing Castelo de Sonhos,"
says Nick Appleyard, TriStar's President and CEO. "We are evaluating our options to finance the project
so that we can perform the required drilling and feasibility studies that will allow us to move forward
towards a construction decision."
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.
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https://www.newsfilecorp.com/release/234371