Earlier this month, TriStar Gold received approval from Para State for the LP, Preliminary Licence, the most significant permitting milestone for a project in Brazil.

• Following the Pará State Environmental Council (COEMA) approval for the LP and Environmental Impact Assessment (EIA) for Castelo de Sonhos, formal issuance and gazettal of the LP should now only be subject to internal Secretariat for the Environment and Sustainability (SEMAS) processes.

• 2021 preliminary feasibility study for the project outlined an 11-year open pit mine with a 1.4M oz reserve, producing an average of 121,000 gold oz. annually for an after-tax NPV estimate of US$321M - and a 28% after-tax IRR - at US$1,550 per oz. Gold.

• Castelo de Sonhos has extensive paleoplacer gold bearing reefs, like the highly profitable Tarkwa and Jacobina mines. These reefs appear to be continuous along strike and at depth.

• Key stakeholders include Royal Gold, Auramet, Gold 2000, US Global and Insiders (both Board and Management).

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