TriStar Gold - Drilling Started on Exploration Program

Scottsdale, June 29, 2022 - TriStar Gold Inc. (TSXV: TSG) (OTCQX: TSGZF) (the Company or TriStar) is pleased to announce the start of a 2,500m expansion and exploration drilling program at its Castelo de Sonhos gold project. This core drilling is principally designed to test areas of higher-grade extensions to the Esperança South mineralization and has been developed by GoldSpot Technologies and TriStar's geological team.

"There is currently one core-rig at site and another one scheduled to arrive in a few weeks to help complete the 2,500m program quickly and efficiently." says Nick Appleyard, TriStar's President and CEO. "In our PFS announced late last year Esperança South (PFS Phase 1) produced approximately 150,000 ounces of gold per year, the aim of this drill program is to test the extensions of this mineralization. We anticipate reporting results on a regular basis."

Figure 1, Esperança South, showing the PFS design pits, plus existing drillholes (black dots) and planned drilling (in red)

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/4509/129345_capture.jpg

Drill hole targeting
Drill holes have been located to test for the locations, or extensions of, gold-bearing channels. A high priority has been given to machine learning assisted proposed holes, derived from the integrated examination of mineralization and gold-hosting stratigraphy. Factors that have been taken into consideration include:

• Gold is dominantly within the quartz-conglomerate unit (or nearby/adjacent, in the hanging wall or footwall)
  
  
• Paleochannels are traced by local variance in 3D stratigraphy derived from machine learning geochemical analysis (chemostratigraphic modelling)
  
  
• Target soil anomalies within buffer of outcropping quartz-conglomerate unit are especially attractive -they represent historic drilling successes
  
  
• Areas with unexplained gold soil anomalies, down slope from outcropping quartz conglomerate, suggest gold bearing units in drainage at higher altitude

Qualified Person

R. Mohan Srivastava (P.Geo.) of RedDot3D Inc. is the Qualified Person who has reviewed the technical information contained in this news release, including data verification, and has approved its disclosure.

About TriStar

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 Pará State, Brazil. The Company's shares trade on the TSX Venture Exchange under the symbol TSG and on the OTCQX under the symbol TSGZF. Further information is available at www.tristargold.com.

ON BEHALF OF THE BOARD OF DIRECTORS OF THE COMPANY:

Nick Appleyard
President and CEO

For further information, please contact:

TriStar Gold Inc.
Nick Appleyard
President and CEO
480-794-1244

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. 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. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "expects" or "it is expected", or variations of such words and phrases or statements that certain actions, events or results "will" occur. Forward-looking statements in this press release include statements about the Company's ability to complete the current drilling program, the results of further exploration target identification and the anticipated ongoing effects of the COVID-19 virus. 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; effects of the COVID-19 virus on all aspects of the Company's business, 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. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. 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, except as required by applicable securities laws.

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