TriStar Gold Clarifies Disclosure
March 05 2018 - 7:00AM
TriStar Gold Inc. ("TriStar Gold" or the "Company") (TSX-V:TSG)
announces that as a result of a review by the British Columbia
Securities Commission, the Company is issuing the following news
release to clarify certain disclosure.
In a December 4, 2017 press release (the “Press
Release”), the Company disclosed an updated mineral resource
estimate (the “Updated Mineral Resource Estimate”) for the Castelo
de Sonhos project (the “Project”). In the Press Release, the
Company disclosed that it intended to complete and file a technical
report regarding the Updated Mineral Resource Estimate within 45
days. On December 7, 2017, the Company filed a material
change report in respect of the Updated Mineral Resource Estimate
(the “Material Change Report”). The Company wishes to clarify
that at the time it disseminated the Press Release, the Company was
of the view that the Updated Mineral Resource Estimate did not
constitute a material change in respect of the Company, and that
the Material Change Report was subsequently filed in
error. The Company further advises that the Company
does not currently plan to file a technical report on a voluntary
basis in relation to the Updated Mineral Resource.
In a “feature video” (the “Video”) posted on the
Company’s website, the Company made a statement with respect to the
potential annual gold production at Project. The Company
retracts the foregoing disclosure regarding the potential annual
gold production at the Project, and clarifies that insufficient
work has been completed on the Project to accurately estimate
future gold production.
The Company wishes to clarify that the
exploration target range it disclosed in its press release of
January 28, 2016, was conceptual in nature, and was a quantitative
assessment of the upside and downside potential of the Project.
As such, it served as a useful point of reference as the
Company planned and executed its drilling campaigns in 2016 and
2017. Now, with drilling covering approximately half of the
area covered by the exploration target range, resources have been
estimated for approximately half of the target area, and the value
of the conceptual target is significantly less now than it was two
years ago. Accordingly, the Company will no longer rely on or
reference its assessment of the exploration target range and will
focus on extending the drilling to all of the remaining prospective
areas, so that resources can be reliably estimated throughout the
Project area. The reality of drilling is now more meaningful
and informative than the conceptual projections presented two years
ago, and comparisons of the two provide investors with no useful
additional information.
The Company wishes to clarify that any
statements in the “fact sheet” formerly posted to the Company’s
website with respect to the reserve replacement potential of the
Project were intended to convey the Company’s view that the Project
would be an appealing property for acquisition by a producing
mining company seeking to replace its reserves, and that the
foregoing statements were not meant to imply that the Company has
established any reserves on the Project.
About TriStar:
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 Pará State,
Brazil. The Company’s shares are listed on the TSX Venture Exchange
under the symbol TSG. Further information is available at
www.tristargold.com.
For further information, please
contact:
TriStar Gold Inc. Nick
Appleyard President and CEO 480-794-1244
info@tristargold.com
Neither the 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.
Forward-Looking Statements
This press release contains forward looking statements within
the meaning of applicable securities laws. The use of any of
the words “anticipate”, “plan”, “continue”, “expect”, “estimate”,
“objective”, “may”, “will”, “project”, “should”, “predict”,
“potential” and similar expressions are intended to identify
forward looking statements. In particular, this press release
contains forward looking statements concerning the Company’s plans
with respect to the preparation of technical
reports. Although the Company believes that
the expectations and assumptions on which the forward looking
statements are based are reasonable, undue reliance should not be
placed on the forward looking statements because the Company cannot
give any assurance that they will prove correct. Since
forward looking statements address future events and conditions,
they involve inherent assumptions, risks and uncertainties.
Actual results could differ materially from those currently
anticipated due to a number of assumptions, factors and
risks.
Management has provided the above summary of risks and
assumptions related to forward looking statements in this press
release in order to provide readers with a more comprehensive
perspective on the Company’s future operations. The Company’s
actual results, performance or achievement could differ materially
from those expressed in, or implied by, these forward looking
statements and, accordingly, no assurance can be given that any of
the events anticipated by the forward looking statements will
transpire or occur, or if any of them do so, what benefits the
Company will derive from them. These forward looking
statements are made as of the date of this press release, and,
other than as required by applicable securities laws, the Company
disclaims any intent or obligation to update publicly any forward
looking statements, whether as a result of new information, future
events or results or otherwise.
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