Mr. Nick Appleyard reports

TRISTAR GOLD - LP PERMIT UPDATE

Tristar Gold Inc. has provided an update on the application for the licenca previa (preliminary licence, or LP) for the Castelo de Sonhos gold project in Brazil. On Dec. 12, 2023, Tristar received a notification from the Secretariat for the Environment and Sustainability (SEMAS) for Para State to clarify certain issues in the company's LP process, which was duly responded to in the time frame requested. Tristar recently received a new notification with issues for clarification, which has also been responded to. This back-and-forth shows that SEMAS is ensuring it has a correct understanding of the project and is doing its job vigorously and professionally to minimize the possibility of errors in the licensing process.

Nick Appleyard, chief executive officer, stated: "In November at our public hearing we saw what great community support we have at Castelo de Sonhos. Now, we continue to work closely with SEMAS towards the issuance of the LP. These final few issues that are being worked on are not go/no-go, rather technical definitions that should not impede the issuance of the LP but are causing small delays, which is not unusual in a robust process like this."

Tristar has now submitted everything requested and responded to all comments. Although there is no formal time frame for this review, Tristar feels that the receipt of the LP in Q1 2024 is now unlikely and that receipt of the LP will most probably slip into Q2.

About Tristar Gold Inc.

Tristar Gold is an exploration and development company focused on precious metal 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 Para state, Brazil. Tristar has completed a prefeasibility study and is now advancing permitting 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.

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