Mr. Nick Appleyard reports

TRISTAR GOLD CLOSES OVERSUBSCRIBED BROKERED PRIVATE PLACEMENT

Tristar Gold Inc. has closed its previously announced brokered private placement of units, including the partial exercise of the agent's overallotment option, for gross proceeds of $2.24-million. The private placement was offered with Canaccord Genuity Corp. acting as agent.

Nick Appleyard, president and chief executive officer, stated: "This is an exciting time for TriStar. We are now well capitalized to complete the prefeasibility study, as well as start our work plan with GoldSpot Discoveries to outline further exploration potential of the Castelo de Sonhos property."

Pursuant to the private placement, the company issued a total of 11.2 million units at a price of 20 cents per unit. Each unit comprises one common share of Tristar and one-half of a common share purchase warrant. Each full warrant entitles the holder thereof to acquire one additional common share at an exercise price of 30 cents per common share at any time up to 5 p.m. PT on Dec. 12, 2021.

In consideration for its services, the agent received a cash commission equal to 6.0 per cent (3 per cent in respect of certain purchasers the president's list) of the gross proceeds of the private placement and that number of broker warrants equal to 6.0 per cent (3 per cent for the president's list) of the number of units sold.

The company intends to use the net proceeds from the offering to finance the company's work program to advance the Castelo de Sonhos gold project and for general working capital purposes.

Pursuant to applicable securities laws, all securities issued in connection with the private placement are subject to a four-month hold period ending on April 13, 2020.

About Tristar Gold Inc.

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.

We seek Safe Harbor.