TriStar Gold Inc. announced the completion of the Environmental Impact Assessment (EIA) and the application for the Prior License (LP) for the Castelo de Sonhos gold project. The Prior License (Licença Prévia in Portuguese) represents the first of a three-stage environmental Licensing process required for mining projects in Brazil. The LP is generally considered the most critical stage as it involves input and approval from several government agencies as well as local stakeholders, communities and details the environmental, social, and economic impacts and benefits of the project. The EIA incorporates project details from the Castelo de Sonhos Pre-Feasibility Study completed in Q4
2021. It provides an analysis of potential project impacts across the physical, biotic and socio- economic mediums while detailing mitigation, management and compensation strategies to be implemented by the Company. Over the coming months, TriStar will work with SEMAS (the Environment and Sustainability Secretariat of Pará State) to engage key stakeholders about the project and the findings of the EIA and prepare detailed information in advance of a Public Hearing, which anticipated holding by Second Quarter of 2023 depending on the decision of SEMAS. After receipt of the LP, the second stage of permitting is the Installation License ("LI") which will allow the processing plant and other infrastructure to be constructed. Work on several programs and studies to support the LI application have already been initiated, including detailed studies on cave relevance, archeology and land regularization. The final stage is the Operations License, which allows to commence operations once construction is complete. Drilling is advancing at Esperança South, with two core rigs as part of a 2,500m reserve expansion and exploration program. The initial holes are targeting shallow up-dip extensions in the central portion of the deposit, as well as gaps in the mineral reserves in the extreme south.