Mr. Nick Appleyard reports

TRISTAR COMPLETES US$8 MILLION AGREEMENT WITH ROYAL GOLD

Tristar Gold Inc. has entered into a royalty agreement with Royal Gold Inc. for an investment by Royal or its affiliate of $7.5-million (U.S.) as contemplated in the Tristar press release on May 28, 2019. In addition to the $500,000 (U.S.) announced previously, the material components of the royalty agreement are:

1. Tristar and Royal have entered into a royalty agreement for total consideration of $7.5-million (U.S.):
   1. Tristar will sell and grant to Royal a newly created 1.5-per-cent net smelter return royalty (incrementally earned pro rata with the financing schedule) on the CDS property.
   2. Tristar will grant to Royal 19.64 million common share purchase warrants (to be issued pro rata with the financing schedule), each entitling Royal to purchase one common share of Tristar at an exercise price of 25 cents per common share for a period of five years.
2. Financing schedule:
   1. First payment, $4.5-million (U.S.), this payment has been made;
   2. Second payment, $1.5-million (U.S.), by Nov. 30, 2019;
   3. Third payment, $1.5-million (U.S.), by March 31, 2020.

The second and third payments assume Tristar can demonstrate (amongst other things) that drilling is advancing substantially according to the agreed upon work program to complete a prefeasibility study due in the fourth quarter of 2020.

The transaction proceeds will be used to complete a prefeasibility study for the CDS gold project, to advance permitting activities and for general corporate purposes.

"This is a phenomenal time for Tristar," says Nick Appleyard, Tristar's president and chief executive officer. "We've grown the resource seven-fold in the past 30 months, and we're excited to now be funded through the PFS which is aimed at establishing mineral reserves for the first time and presenting a blueprint for a profitable mine. To this end, we're focusing 20,000 m of infill drilling in Esperanca South; following the PFS we'll turn our attention to expanding resources and reserves elsewhere on our mineral concessions. I also want to take this opportunity to thank Royal Gold for recognizing the potential of CDS."

Board of directors

Mark Jones has decided to stand down as executive chairman, effective immediately, but will continue as a member of the board and in the role of non-executive chairman. Tristar would also like to thank Mr. Jones for his many years of service as executive chairman.

Investor relations

Tristar has hired Focus Communications Investor Relations Inc. as the company's IR consultant. Its principal, Leo Karabelas, is located in Toronto and has more than 14 years of experience in investor relations. Mr. Karabelas is joining the company at this exciting time to help with communicating to investment dealers, advisers and shareholders -- both current and prospective -- to increase awareness of and interest in Tristar. Focus Communications will be paid a monthly fee of $5,000 per month for an initial one-year period and Mr. Karabelas will be awarded 400,000 employee stock options.

Qualified person

R. Mohan Srivastava (PGeo), vice-president of Tristar, is the qualified person who has reviewed the technical information contained in this news release and has approved its disclosure.

About Tristar Gold Inc.

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 Para state, Brazil.

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