On behalf of TriStar Gold Inc. GE21 Consultoria Mineral Ltda ("GE21") of Belo Horizonte, Brazil, and Piteau Associates of Sandton, South Africa have completed the prefeasibility study ("PFS") for the Company's Castelo de Sonhos gold project in southern Pará State, Brazil, which includes an updated mineral resource estimate. The results of the PFS now replace the 2018 PEA, originally announced in the Company's press release dated November 16, 2018. The PFS has incorporated several positive changes in the approach to the planned development of Castelo de Sonhos compared with the 2018 PEA. The scope and other changes incorporated in the PFS include: Increased throughput: Plant capacity has increased 21% from the PEA up to 10,000 tonnes per day or 3.6 million tonnes per year. Phased mining: Mining operations will be conducted in 2 distinct phases: Phase 1 is years 1 to 6 of operations and is 100% focused on mining the higher grade Esperança South deposit. Phase 2 is from year 7 to 11 and involves mining Esperança East and Center deposits. Owner operator mining: With the expanded operation and higher throughput, owning and operating own mine fleet is economically favorable compared to contract mining. An Environment, Social Governance ("ESG") commitment: a significant commitment to ongoing environmental and social stewardship, LOM spending in excess of USD 20 million. Compelling economics notwithstanding the current inflationary pressures: the initial capital costs have increased from USD 184 million in the 2018 PEA to USD 261 million in the PFS. The main components to this change in capex are: 21% increase in plant capacity. Inclusion of an owner operated mining fleet. Global market escalation, which may include short-term covid driven cost escalation factors that will correct when the pandemic abates. The prefeasibility study was conducted by GE21 Consultoria Mineral Ltda ("GE21") of Belo Horizonte, Brazil, and Piteau Associates of Sandton, South Africa, both of whom are independent of TriStar. Key highlights of the PFS include: Life-of-mine gold production of 1.3 million ounces. LOM average production of 121k oz per year in two phases: Phase 1 (Esperança South, year 1-6) average production - 146k oz per year, Phase 2 (Esperança East and Center, year 7-11) average production - 91k oz per year, Cash cost of USD 877 per ounce, All in sustaining cost of USD 900 per ounce, After-tax payback period of less than 3 Years, Internal rate of return pre-tax of 33%, post-tax 28%.