Mr. Nick Appleyard reports

ROYAL GOLD BECOMES STAKEHOLDER IN TRISTAR'S CASTELO DE SONHOS GOLD PROJECT

Tristar Gold Inc. has entered into a letter agreement with Royal Gold Inc. for a total investment by Royal Gold or its affiliate of $8-million (U.S.). The letter agreement is in two parts:

1. Tristar has sold to Royal Gold, for a cash payment of $500,000 (U.S.), an option to purchase a 1-per-cent net smelter return royalty on the Castelo de Sonhos (CDS) property for consideration to be determined by reference to the proven and probable gold reserves at CDS if and when Royal Gold determines to exercise the option. Tristar and Royal Gold have entered into a royalty option agreement, which sets out the terms, including that Tristar will be obligated to use the consideration paid by Royal Gold on exercise of the royalty option to repurchase 50 per cent of an existing 2-per-cent net smelter return royalty on the CDS property such that the total royalty on the property following such transactions is unchanged.
2. Tristar and Royal Gold will enter into exclusive negotiations in order to complete two subsequent transactions for a total additional value of $7.5-million (U.S.):
   1. Tristar will sell and grant to Royal Gold a newly created 1.5-per-cent net smelter return royalty on the CDS property.
   2. Tristar will grant to Royal Gold 19.64 million common share purchase warrants, each entitling Royal Gold to purchase one common share of Tristar Gold at a price of 25 cents per common share for a period of five years from the closing date.

The total transaction proceeds will be used: to advance the CDS gold project into a feasibility study; to advance permitting activities at CDS; and for general corporate purposes.

The consummation of the subsequent transactions is subject to certain conditions, including, but not limited to, the receipt of all necessary regulatory approvals, including the acceptance of the TSX Venture Exchange.

"We are delighted to have Royal Gold as a stakeholder," commented Nick Appleyard, Tristar's president and chief executive officer. "They are highly respected for their success in acquiring and managing a portfolio of royalties and metal streams; their interest in a CDS royalty follows our rapid and cost-effective development of the CDS project over the past two years. This transaction with Royal Gold is an important step that will assist the derisking of the project through a feasibility study and permitting activities that accelerate the path to production."

About Tristar Gold Inc.

Tristar Gold is an exploration and development company focused on precious metal properties in the Americas that have potential to become significant producing mines. The company's current flagship property is Castelo de Sonhos in Para state, Brazil.

We seek Safe Harbor.