TriStar Recommences Castelo de Sonhos Drilling Program
April 01 2014 - 8:30AM
Business Wire
Closes Second Tranche of Private
Placement
TriStar Gold Inc. (the “Company” or “TriStar”) has commenced its
third phase drilling program at Castelo de Sonhos gold project in
Para State, Brazil. The minimum 4,000 meter drill program will be
conducted by Layne do Brasil Ltda. with two drill rigs which are
presently on site. The focus of the drill program will be the
Esperança South target. The 2014 drill program will be
predominantly infill drilling to establish the parameters to
support the company’s report to be filed with the Brazilian mining
authorities. This report is to be filed prior to August 2014 and
will form part of the supporting documentation for conversion of
the Company’s exploration license to an exploitation license.
A portion of the 2014 drilling will target the deep continuation
of the mineralization at Esperança South target. As results are
received additional drilling may be carried out in other areas of
interest.
The company has closed the second and final tranche of its
private placement announced January 16, 2014. The placement raised
a total of $2,232,950 by the issue of 22,329,500 units (“Units”) at
$0.10 per Unit consisting of one common share and one share
purchase warrant (“warrant”). Each Warrant entitles the holder to
purchase one additional share at the price of $0.13 per share for a
period of 18 months from the date of issue. The shares and any
shares purchased on exercise of the second tranche Warrants will be
subject to a hold period until July 29, 2014.
About TriStar:
TriStar Gold is a gold exploration company focused on
high-potential properties in Brazil. In addition to Castelo de
Sonhos, TriStar holds another exploration project in the Tapajós
district known as the Bom Jardim Property. The Company’s shares are
listed on the TSX Venture Exchange under the symbol TSG-V. Further
information is available at www.Tristarau.com
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release. No stock exchange, securities commission
or other regulatory authority has approved or disapproved the
information contained herein.
Forward-Looking Statements
Certain statements contained in this press release may
constitute forward-looking statements under Canadian securities
legislation which are not historical facts and are made pursuant to
the "safe harbour" provisions under the United States Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements are based upon the Company's reasonable expectations and
business plan at the date hereof, which are subject to change
depending on economic, political and competitive circumstances and
contingencies. Readers are cautioned that such forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause a change in such assumptions and the actual
outcomes and estimates to be materially different from those
estimated or anticipated future results, achievements or position
expressed or implied by those forward-looking statements. Risks,
uncertainties and other factors that could cause the Company's
plans to change include changes in demand for and price of gold and
other commodities (such as fuel and electricity) and currencies;
changes or disruptions in the securities markets; legislative,
political or economic developments in Brazil; the need to obtain
permits and comply with laws and regulations and other regulatory
requirements; the possibility that actual results of work may
differ from projections/expectations or may not realize the
perceived potential of the company’s projects; risks of accidents,
equipment breakdowns and labour disputes or other unanticipated
difficulties or interruptions; the possibility of cost overruns or
unanticipated expenses in development programs; operating or
technical difficulties in connection with exploration, mining or
development activities; the speculative nature of gold exploration
and development, including the risks of diminishing quantities of
grades of reserves and resources; and the risks involved in the
exploration, development and mining business. The Company disclaims
any intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or
otherwise.
TriStar Gold Inc.Mark Jones III, 281-579-3400Chairman and
CEOinfo@tristarau.com
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