TriStar Drilling Results at Castelo de Sonhos Continue to Expand Mineralization at Esperança South and Center Targets

HOUSTON -- (BUSINESS WIRE) -- TriStar Gold Inc. (the Company) has received the results of eighteen (18) more holes completed in the second phase diamond drilling at the Company’s 100% owned Castelo de Sonhos Gold Project in the Tapajos region of Para state, Brazil. Results received relate to infill drilling at the Esperança South and Esperança Center targets and first time drilling at the Esperança East target.

These results confirm and expand the mineralization at Esperança South to the north and down dip; enhance the prior results and define an open ended mineralized zone of 1,000 meters at Esperança Center; and provide encouragement at Esperança East.

The second phase of drilling at Castelo de Sonhos started on July 17th with two drill rigs. Results have now been received for 33 holes of the revised program of 53 holes for a total of 6,100 meters. This second phase drilling campaign is scheduled to be completed by November 20th, 2012.

Seventeen of the eighteen holes encountered mineralization, only hole CSH-63 did not. The table below shows the most significant intercepts for those holes. Hole CSH-48, already reported, is included again as it was drilled in the Esperança East target, rather than Esperança South target as previously reported.


Esperança South Target

Hole          Intercept (Au)    From (m)   To (m)   Final Depth (m)
CSH-49     2.00 m at 1.99 g/t      0.00      2.00       114.25
CSH-50     1.90 m at 2.87 g/t      3.10      5.00       100.55
CSH-51     2.00 m at 1.01 g/t     12.00     14.00       100.10
CSH-53     2.00 m at 0.77 g/t     14.00     16.00       153.25
           2.00 m at 0.72 g/t     28.00     30.00
CSH-54     2.00 m at 1.74 g/t     41.00     43.00       100.75
           3.50 m at 0.96 g/t     62.50     66.00
CSH-55     2.00 m at 0.72 g/t    103.00    105.00       183.35
CSH-57     2.00 m at 0.96 g/t     50.00     52.00       125.55
           2.00 m at 3.78 g/t     58.00     60.00
          14.00 m at 0.41 g/t     70.00     84.00
           8.00 m at 1.02 g/t     88.00     96.00
CSH-58     4.00 m at 1.27 g/t     14.00     18.00       121.60
           2.00 m at 2.23 g/t     60.00     62.00
           5.00 m at 4.29 g/t     76.00     81.00
           3.25 m at 1.05 g/t    100.75    104.00
CSH-59     1.50 m at 0.71 g/t     15.00     16.50       120.25
           2.00 m at 5.74 g/t     95.00     97.00

Esperança Center Target

Hole          Intercept (Au)    From (m)    To (m)  Final Depth (m)
CSH-56     2.00 m at 1.35 g/t    109.00    111.00       165.15
CSH-60     2.00 m at 0.77 g/t     14.00     16.00        61.25
           5.00 m at 2.47 g/t     34.00     39.00
           2.00 m at 1.45 g/t     54.00     56.00
CSH-61     2.00 m at 5.60 g/t      7.00      9.00       101.85
           2.00 m at 0.74 g/t     27.00     29.00
           2.00 m at 0.96 g/t     86.00     88.00
CSH-62     4.00 m at 4.86 g/t     71.00     75.00       125.65
CSH-64     2.00 m at 0.74 g/t     72.00     74.00       126.55
           6.00 m at 6.60 g/t    117.00    123.00
CSH-65     2.00 m at 1.42 g/t     94.00     96.00       178.60
           2.00 m at 1.16 g/t    144.00    146.00
CSH-66     2.00 m at 1.38 g/t     68.00     70.00       119.50
           2.00 m at 1.09 g/t     78.00     80.00

Esperança East Target

CSH-48     2.00 m at 1.14 g/t    117.00    119.00       139.50
           1.75 m at 1.19 g/t    123.00    124.75
          11.00 m at 0.64 g/t    117.00    128.00
CSH-52     4.45 m at 0.74 g/t     63.00     67.45       145.95

All holes were drilled inclined between 45 to 55 degrees of the horizontal and were planned to intercept mineralization at right angles.

The principal goals for the second phase drilling at the Esperança South and Esperança Center targets are to add more drill holes in previously drilled sections and fill in and extend the drilling grid in these targets. The drill holes at Esperança East are the first investigative holes in this target.

At Esperança South, the results confirm and expand the results of the previous holes drilled in this target. Holes CSH-58 and CSH-59, located South of CSH-43 confirm the continuation of the mineralization in the northern portion of Esperança South. Hole CSH-57 is the deepest hole in this target and combined with other holes in the same section, confirms continuous mineralization up to 200 meters down dip. Mineralization at Esperança South is still open to the South and to the North, where the mineralization has a strike length of 2,600 meters inside a soil geochemistry anomaly which extends for over 5,500 meters.

At Esperança Center, the current results enhance the previous drilling results, and a mineralized zone of approximately 1,000 meters has now been defined at this target. The strong geochemical anomaly continues further north for at least another 1,500 meters and further drilling will be planned for this area.

At Esperança East, the initial results are encouraging and additional drilling is needed to better define the mineralization in this target.

“These drilling results keep confirming and expanding the previous results at Esperança South and are now also enhancing the results at Esperança Center. At both targets, the mineralization is still wide open to the South and to the North. At Esperança East, we are just starting to investigate its mineralization, which is inside a soil geochemistry anomaly of approximately 2,000 meters long. More work and drilling is needed in all these targets within the outline of the strong soil anomalies,” Vice President of Exploration, Elton Pereira, said.

Mark E. Jones, III, Chairman and CEO of TriStar stated: “The continued success of our drilling is very encouraging and we await the results from 20 more drill holes. It is clear that we have encountered an extensive area of mineralization which is still open-ended and we intend to aggressively continue to explore these targets.”

Castelo de Sonhos is a property where gold mineralization is hosted in proterozoic conglomerates similar to those encountered at comparable gold deposits also associated with proterozoic conglomerates, like Jacobina in Northeastern Brazil and Tarkwa in Ghana (Western Africa).


Sampling Procedures

The recovered HQ and NQ size cores were split in half by a standard rock saw. One-half was sent to the laboratory in intervals not greater than 2 meters in length and cut depending on geologic parameters. The remaining half-core was stored on site. The samples were bagged in batches of forty (40) samples and sent from the project site to the city of Parauapebas (Carajás), where SGS-Geosol Labs has a sample prep facility.

All samples were dried at 60°C, 100% crushed to 95% minus 2mm and homogenized.

For those samples in which visible gold was not identified, a split of 250-300g aliquot was taken and pulverized to 95% minus 150 mesh, from where a new split of 50g aliquot was taken to be analyzed by fire assay/atomic absorption.

For those samples in which visible gold was identified, to minimize the nugget effect, a minimum of 1 Kg was pulverized to 95% minus 150 mesh and sieved in a 150 mesh sieve. The oversize was weighed and analyzed by fire assay/atomic absorption. The undersize was weighed, homogenized and two aliquots of 50g were split to be analyzed by fire assay/atomic absorption. Balance between weights and assays of the oversize and undersize resulted in sample’s final assay.

For both types of preparation, the pulps were airfreighted to be assayed at SGS-Geosol lab in Vespasiano, Minas Gerais state. In addition to the laboratory quality control, TriStar has added its own certified standard, and checks each 10samples.

Mr. Rodrigo Mello, FAusIMM, a qualified person as defined in NI 43-101, has read and approved the technical portions of this release.


About TriStar:

TriStar Gold is a well-financed 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.



Contact:

TriStar Gold Inc.
Mark E. Jones, III, Chairman and CEO
281-579-3400
info@tristarau.com