TriStar Gold : Corporate Presentation - January 2022

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TSXV: TSG

OTCQX:TSGZF

DEVELOPING GOLD DELIVERING VALUE

Corporate Presentation

January 2022

www.tristargold.com

DISCLAIMER	2

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 presentation. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Certain statements contained in this presentation 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 all estimates from the PFS such as the cash flow, IRR, NPVs, cash cost, AISC, initial capital, life of mine production, average annual production and payback period time. 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. 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.

Alan Lambden, Project Geologist of TriStar Gold, is the Qualified Person who has reviewed and approved the technical information contained in this presentation and approves its publication.

www.tristargold.com

PFS HIGHLIGHTS

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The PFS results show compelling economics at $1,550 gold with a low-cost base, and strong leverage to gold price.

1.4M Ounces	121koz/yr	Phase 1	Phase 2
		146koz/yr	91koz/yr

Life-of-mine gold reserves	LOM average production	Esperança South, year 1-6	Esperança East & Center,
in 2 phases	year 7-11

US$ 321M		$900/oz		<3 years		33%
				After-tax payback period		Pre-Tax
					28%
						Post-Tax
After-tax NPV5% at $1,550
base-case gold price		AISC				Internal rates of return

www.tristargold.com

COMPANY STRUCTURE

ManagementDirectors

Nick Appleyard	Mark E. Jones III
PRESIDENT, CEO, DIRECTOR	CHAIRMAN

Scott Brunsdon	Jessica Van Den Akker
CHIEF FINANCIAL OFFICER	Mark Isto
Brian Irwin
Carlos Vilhena
CORPORATE SECRETARY
VICE PRESIDENTS	Eric Zaunscherb
Fabio Mozzer	Rod McKeen
Andrew Grant

Market Capitalization	C$64 million	Shares Issued	230.1 million
Cash	~C$7 million	Fully Diluted Shares	271 million
Share Price	C$0.20	Stock Options	6.2 million
52-Week Range	C$0.19 - 0.31	Warrants	35.0 million

TSXV: TSG | OTCQX: TSGZF

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Institutions	Retail
44%	33%

Insiders &

Associates

23%

Analyst Coverage

Cormark - Brock Colterjohn

Paradigm - Don Blyth

www.tristargold.com

CASTELO DE SONHOS	5

The Project

Straightforward

Mining

Development Phase

Significant Upside

• 17,177 Ha property 100% controlled
• Large gold deposit: 19km outcrop
• A paleo-placer gold deposit that is analogous to producing mines Tarkwa and Jacobina
• Close to infrastructure
• Mineralization at surface → simple open pit
• Simple metallurgy → 98% gold recovery
• Environmentally clean → no sulphides
• Resource grown 8x and still growing
• Mining friendly jurisdiction
• PFS study funded by Royal Gold investment
• PFS post-tax - IRR 28%, NPV5 $321 million
• Mineralization is open along strike and at depth
• Informal workings show extensive mineralization
• New interpretation of the extents of the gold-bearing conglomerate horizon is generating new drill targets

www.tristargold.com