TriStar Gold Updates Economics of PFS with After-Tax 40% IRR and US$603 Million NPV5 and Provides Update on Permit

Core Insights - TriStar Gold Inc. has updated the prefeasibility study for its Castelo de Sonhos gold project, showing an after-tax internal rate of return (IRR) of 40% and a net present value (NPV) of US$603 million at a base-case gold price of US$2,200 per ounce [1][7][14]. Economic Metrics - The initial capital cost estimate for the project is US$296 million, which includes a 20% contingency [21]. - The base-case gold price used in the study is US$2,200 per ounce, compared to US$1,550 in the previous study [5][14]. - The all-in sustaining cost (AISC) is estimated at US$1,111 per ounce, up from US$900 in the previous study [5][14]. - The after-tax NPV at a gold price of US$3,200 is projected to be US$1,353 million, with a compelling after-tax IRR of 72% [7][14]. Project Overview - The Castelo de Sonhos operation will feature an open-pit gold mine with a nominal milling rate of 10,000 tons per day [9]. - The project will utilize conventional open-pit mining methods and a whole-ore agitation leaching process for gold recovery, anticipated to achieve a metallurgical recovery of 98% [10][11]. Legal and Regulatory Status - The company has received a positive legal opinion regarding the status of the Castelo de Sonhos permit, confirming it remains valid and in good standing [7][34]. - The independent legal advice indicates that the project does not interfere with Indigenous lands, and the environmental impact assessment (EIA) is deemed complete and adequate [35][36]. Mineral Resource and Reserve Estimates - The mineral resource estimate remains unchanged, with a total of 1.8 million ounces of gold in indicated resources and 0.7 million ounces in inferred resources [25][26]. - The mineral reserve estimate is 1.4 million ounces of gold, classified as probable reserves [30][31].