Mr. Nick Appleyard reports

TRISTAR DRILLING UPDATE, GOLDSPOT WORK AND DIRECTORS EXERCISE OPTIONS

Drilling for Tristar Gold Inc.'s prefeasibility study is advancing well, with results including four metres (m) at 10.8 grams per tonne (g/t) gold in hole RC-19-383 (46 m to 50 m downhole) as targeted, highlighting the continuity and predictability of the system. GoldSpot Discoveries Corp. is making good progress on its gold target generation work and two directors of Tristar have exercised a total of 2.8 million employee stock options at prices of 18 cents and 20 cents, adding $534,000 to the treasury.

"Results from the prefeasibility drilling program continue to be positive and are confirming our understanding of the continuity of this large gold system. Drilling is expected to continue through March with results expected in the second quarter of 2020," stated Nick Appleyard, Tristar's president and chief executive officer. He added: "Our work with GoldSpot has already identified machine-learning algorithms that will be tested using the wide range of data available at Castelo de Sonhos to help establish new drilling targets. Of particular interest will be the deeper targets that will help test the theory of gold enrichment along the contact between the underlying granite and the conglomerate."

Prefeasibility drilling

In January, 2020, results from 10 reverse circulation (RC) drill holes from the in-fill program were received, all of which contained significant gold intersections. Some highlights include:

• Hole RC-19-383, four metres (m) at 10.8 grams per tonne (g/t), from 46 to 50 m downhole;
• RC-19-387, 15 m at 0.8 g/t, from 13 to 28 m and 20 m at 0.6 g/t from 42 to 62 m;
• RC-19-388, 15 m at 1.1 g/t, from 36 to 51 m;
• RC-19-390, three m at 1.1 g/t, from 10 to 13 m and four m at 1.6 g/t from 68 to 72 m;
• RC-19-391, nine m at 1.5 g/t, from 105 to 114 m.

A complete table of all significant intervals, along with a set of cross sections is available on the company's CDS project website. All recent holes are drilled vertically with most having a target depth of 120 m. True widths of the mineralized intersections are approximately 90 per cent of the indicated drill length. The RC program is expected to be about 20,000 m in total and, to date, the company has completed 106 holes for a total of 11,783 m.

Assay methods, quality assurance and quality control (QA/QC)

All drill hole samples are analyzed using a fire assay analysis of the chips collected from RC holes. Any sample that returns greater than 0.1 g/t gold is automatically submitted for a duplicate fire assay analysis and the average grade is used. Samples are transported by truck from the site to the ALS preparation lab in Goiania, Brazil, where they are dried, crushed, pulverized and packaged for shipment to the ALS analytical lab in Lima, Peru.

The ALS preparation and analytical labs are accredited to ISO 17025:2005 UKAS reference 4028 and have internal QA/QC programs for monitoring accuracy and precision. In addition to this, Tristar uses standards, blanks and field duplicates in an external QA/QC program to provide independent monitoring of laboratory analyses.

Qualified person

R. Mohan Srivastava (professional geoscientist), 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 the potential to become significant producing mines. The company's current flagship property is Castelo de Sonhos in Para state, Brazil.

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