Mr. Nick Appleyard reports

FEASIBILITY DRILLING UNDERWAY AT TRISTAR GOLD'S CASTELO DE SONHOS

Infill drilling has started at Tristar Gold Inc.'s Castelo de Sonhos. This campaign focuses on Esperanca South, with approximately 200 holes (20,000 to 25,000 metres) that aim to increase confidence in resource estimates which will serve as the basis for the prefeasibility study (PFS) slated for completion by the end of 2020. The first reverse circulation rig began drilling this week; a second will begin in the coming weeks.

"With Royal Gold's recent investment, Tristar is funded through the completion of this study, our team is now solely focused on aggressively moving this amazing project forward," Nick Appleyard, president and chief execuive officer, commented: "The effort over the next 12 months at Castelo de Sonhos is all about increasing knowledge and reducing risk to expose the full value of this project in what looks like a buoyant gold market."

The completion of this drilling campaign will bring the drill hole spacing in Esperanca South to 50 m. In all previous resource estimation studies for the CDS project, 50 m spacing has been adequate for the classification of indicated mineral resources. Considerable additional resource potential exists outside Esperanca South, in areas where 100 m drilling has already established inferred mineral resources and in areas of outcropping mineralized conglomerate that have not yet been drilled.

An optical televiewer (OTV) will be used to capture an image of the inside of the holes; Tristar's previous use of OTV confirms that the high-quality images provide excellent data on lithologies and sedimentary structures, and serve as the ideal basis for precise measurements of the orientations of the bedding and structures that control gold mineralization.

Tristar is also happy to announce that CSAGlobal of Toronto, Canada, has been selected as the lead prefeasibility consultant.

Highlights of the preliminary economic assessment, published on Nov. 16, 2018, are:

• Life-of-mine recoverable gold of 1.1 million ounces;
• Internal rate of return, pretax of 51 per cent, posttax of 43 per cent (using a gold price of $1,250 per ounce);
• All in sustaining cost of $687/oz.

Last year's PEA is preliminary in nature and includes inferred mineral resources that are considered too speculative geologically to have the economic considerations applied to them that would enable them to be categorized as mineral reserves. There is no certainty that the economic results described in the PEA will be realized. Mineral resources that are not mineral reserves do not have demonstrated economic viability.

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. The company's shares are listed on the TSX Venture Exchange under the symbol TSG.

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