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(1)

T

RI

S

TAR

G

OLD

– U

NLOCKING

P

OTENTIAL

(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 harbor" provisions under the United States Private Securities Litigation Reform Act of 1995. 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 labor 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. 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.

(3)

New Management Team, New Vision

All senior management personally invested

in the company

New team experienced in advancing projects

Growth through development of CDS

Growth through acquisition of new

properties:

Gold and silver in the Americas

Tightly held stock position

Insiders and Associates control 43% of

Issued and Outstanding shares

Two major institutions control a further 25%

Implied Retail control: ~31%

Castelo de Sonhos:

An exceptional deposit

Mining friendly region of Pará state Brazil

Great local infrastructure for mine

development

Gold paleo-placer with strong similarities to

Tarkwa (Gold Fields) and Jacobina (Yamana

Gold)

16 km of continuous mineralized outcrop

with down-dip extensions

Historical production of ~300,000 ounces

from small-scale mining

Strong additional resource potential

Excellent preliminary metallurgical results

Control of all necessary mineral rights, with

option to own 100%

(4)

Nick Appleyard: President & CEO

• CEO for Chaparral Gold (CHL) • VP Corporate Development for

International Minerals (IMZ) • 25+ years experience managing

precious metals exploration,

development and production JVs in North and South America

Scott Brunsdon: CFO

• CFO for IMZ, CHL and Placer Dome North America

• Director and senior management with several mining companies • 25+ years experience in financial

management, corporate develoment, mergers and acquisitions

Mo Srivastava: Vice President

• President and founder of FSS Canada and Benchmark Six • Advisor to Boards of Directors • 30+ years experience in

geostatistics and resource estimation from exploration through development and production

Mark Cannuli: Technical Advisor

• Exploration Manager for CHL and IMZ

• Discovered Inmaculada deposit • 30+ years experience in use of

geology, geophysics and

geochemistry to identify and assess mineral deposits

Tony Brown: Technical Advisor

• Co-founder of MRDI Consultants • Manager of Metallurgical

Engineering for Fluor Mining & Metals

• 30+ years experience in process design, metallurgy, cost estimation, project engineering and feasibility studies

(5)

Good news from the Sept. 2014 National

Instrument 43-101 Technical Report:

● Gold anomaly in soil perfectly tracks a band of

metamorphosed conglomerates → the band is

pervasively mineralized.

● Every one of the 140 drill holes that intersect at

least half of the conglomerate band encounters

at least 2m with gold grade greater than the

resource reporting cutoff (0.4 g/t).

● 90% gold recoveries can be achieved with a fine

grind and gravity methods; with an additional

cyanidation step, recovery reaches 99%.

(6)

The not-so-good news from the Sept. 2014

National Instrument 43-101 Technical Report:

● Modest Indicated and Inferred resources have

caused mid-size and large mining companies to

put the project in the “too-small-for-us” bucket.

● To be a “Company-Maker” a project needs the

potential to support 150,000 ounces of gold

production for many years.

But there is a silver lining:

● The September 2014 resource was limited to a

very small region of the continuously mineralized

conglomerate band → considerable potential for

additional resources.

(7)

A quantitative risk assessment (QRA) does not involve

guessing at the upside potential … the “blue sky”

possibilities.

Instead, it builds complete 3D models of the deposit that

honor all available knowledge, information and data,

creating a family of technically sound scenarios that

allows the upside and downside of mineral resources and

reserves to be reliably established.

P10 → pessimistic scenario (10% chance it’s worse)

P90 → optimistic scenario (10% chance it’s better)

(8)

Key Resource Modeling Assumptions

Key Reserve Assumptions

• Gold was deposited in a near-shore placer that

sub-sequently became a band of conglomerates with

varying grain sizes. Minimal short-range

remobili-zation of gold.

• Gold grades tend to be higher in the coarser-grained

conglomerates that were deposited closer to the

ancient shoreline.

• The conglomerate band has the shape of a simple fold

that has been tilted and faulted.

• Except for two major fault offsets, the conglomerate

band is continuous across the scoop-shaped fold, at

least down to a depth of 150m.

• As one moves to the west, the mineralized layers

within the conglomerate band thin, break up, and

become lower in grade.

Consequence of Assumptions

• An open-pit operation … the possibility of

under-ground extensions was not evaluated.

• Metallurgical recoveries of 95% can be achieved.

• Current metal price range.

• 10% drop in grade due to mining dilution.

• The decision of the new team to take an active

investment and management role in TriStar Gold is

well justified by a P10 case that exceeds their

‘Company Maker’ potential production criteria.

• CDS merits an updated 43-101 Technical Report to

document the results of the QRA followed by a

well-defined work program to validate the modeling

assumptions and to expose the resource potential.

(9)

TSG V

ENTURE

T

ICKER

S

YMBOL

: TSG

Market capitalization

~ C$ 19 million

Shares Issued

105.0 million

Cash

~ C$ 1.4 million

Fully Diluted Shares

142.9 million

Recent share price (07Jan2016)

C$ 0.18

Stock Options

14.9 million

52-week range

C$ 0.10 ─ 0.22

Warrants

23.0 million

M

AJOR

S

HAREHOLDERS

(I & O)

Insiders and Associates

43%

US Global

17%

Sun Valley

8%

Other Institutions

1%

TOTAL NON-RETAIL

69%

(10)

Federal Presidential Constitutional Republic

Elections every four years

Independent from Portugal since 1822

Population: 205 million (5

th

largest)

GDP: US$3.2 trillion (7

th

largest)

Currency: Real (1US$ is ~4 Reals)

Main Exports (2010): natural resources, automobiles and agriculture

Investment Considerations

Welcome foreign investment

Export industries are encouraged

Corporate tax of 25%

(11)

D

IRECTORS

Position

Profession

Nationality

Nick Appleyard

President/CEO

Geologist

Australia

Mark Jones III

Chairman

Mining Executive

U.S.

Brian Irwin

Corporate secretary

Lawyer

Canada

Leendert Krol

Independent Director

Geologist

Holland

Diane Garrett

Independent Director

Mineral Econ.

U.S.

Patrick Glazier

Independent Director

Investor

U.S.

Quinton Hennigh

Independent Director

Geologist

U.S.

Carlos Vilhena

Brazil Legal Counsel

Lawyer

Brazil

S

ENIOR

M

ANAGEMENT

& O

FFICERS

Scott Brunsdon

Elton Pereira

CFO

VP Exploration

Economist

Geologist

Canada/U.S.

Brazil

(12)

Website

www.TriStarGold.com

Email:

info@tristargold.com

Headquarters (U.S.A.)

Nick Appleyard ─ President & CEO

Scott Brunsdon ─ CFO

Scottsdale office: +1 (480) 794-1244

Houston (U.S.A.)

Mark Jones III ─ Chairman

Office: +1 (281) 579-3400

(13)

APPENDIX

Geological & Technical Information

on Castelo de Sonhos

(14)

• Syngenetic versus epigenetic

• Paleo plate reconstructions

• Original depositional coordinates

• Trend models

(15)

SYNGENETIC

Paleo-placer in which primary controls on

mineralization are:

● hydrodynamics of flowing water with

suspended gold grains

● size and sorting of bottom sediments

that create possibilities for trapping

heavy particles

Evidence at Castelo de Sonhos supports two views of the deposit:

EPIGENETIC

Gold arrives later, with primary controls

on mineralization being:

● permeable pathways (connected

por-osity, cracks, fissures) through which

mineralized fluids percolated

● physical and/or chemical changes that

cause gold to precipitate

Accurate assessment of resource potential requires a technically defensible assumption

on the dominant style of mineralization.

(16)

Although there are some unambiguous instances of epigenetic gold (or, possibly,

remobilized gold), the weight of evidence favors the view that Castelo de Sonhos is

primarily a paleo-placer:

1. Outcrop of the conglomeratic band aligns almost

perfectly with anomalously high gold in soil

samples, following the major fold and the two

large faults.

2. Lack of enrichment near major faults and

fractures.

3. In drill holes, 95% of gold is in conglomeratic

samples.

(17)

4. Gold grade follows size and frequency of

pebbles/clasts, which is typical of a placer

environment.

(18)

There are placer gold deposits in a

near-shore marine environment that are being

mined:

→ Tarkwa, Ghana (paleo-Proterozoic)

→ Jacobina, Brazil (paleo-Proterozoic)

→ Nome, Alaska (modern)

Castelo de Sonhos is paleo-Proterozoic in

age, and it’s important to know whether or

not it was near the coast at the time that its

conglomerate band was forming.

(19)

• Syngenetic versus epigenetic

(20)

There are placer gold deposits in a

near-shore marine environment that are being

mined:

→ Tarkwa, Ghana (paleo-Proterozoic)

→ Jacobina, Brazil (paleo-Proterozoic)

→ Nome, Alaska (modern)

Castelo de Sonhos is paleo-Proterozoic in

age, and it’s important to know whether or

not it was near the coast at the time that its

conglomerate band was forming.

(21)

Two billion years ago, a large continent lay near the South Pole, with a chain of lode gold deposits along its central

mountain ridge. Gold accumulated in placer deposits along the shores and beaches. In modern times, these now

include gold deposits at Tarkwa, Jacobina and Castelo de Sonhos.

(22)

TARKWA

JACOBINA

CASTELO DE SONHOS

Location

Ghana, West Africa

Brazil, South America

Brazil, South America

Age (Ga)

2.10 ─ 2.14

1.88 ─ 2.09

2.00 ─ 2.20

Remaining Reserves (Moz Au)

10.3 Moz Au

2.2 Moz Au

Mine Type

Open Pit & Undergound

Open Pit & Undergound

Initially an Open Pit

Open Pit Grade

1.2 g/t

1.9 g/t

1.5 ─ 2.0 g/t

Underground Grade

> 6 g/t

2.5 ─ 9.5 g/t

Thickness of Mineralized Zones

2 ─ 8 m

1.5 ─ 25m

1 ─ 10m

Silicification and Hematization

Yes

Yes

Yes

Accessory Magnetite

Yes

No

Yes

Accessory Uraninite

No

Yes

No

Host Rock

Quartzites and pebble

conglomerates

Quartzites and pebble

conglomerates

Quartzites and pebble

conglomerates

Depositional Environment

Alluvial fan

Alluvial fan to marginal

(23)

• Syngenetic versus epigenetic

• Paleo plate reconstructions

(24)

The outcrop of the conglomerate band

forms a horseshoe that is the surface

expression of a fold.

Two faults cause the central block (that

hosts Esperança East) to be

down-dropped.

(25)

A 3D model of the fold was created by assuming

that the fold follows the simplest theoretical

model for a fold, a minimum curvature surface that

honors the available dip data from the outcrops.

When truncated against the topography, and

faulted, the resulting 3D model follows the outcrop

of the conglomerate band very closely.

(26)

The simple 3D model of the

geometry of the fold provides an

explanation for one of the

puzz-ling locations of the garimpeiro

workings …

… the conglomerate band almost

reaches the ground surface in the

ravine that splits the plateau.

(27)

The 3D model of the geometry of the conglomerate band allows us to:

 undo the faulting by removing offset on the two major faults

 untilt the fold by bringing its axial plane to vertical

 unfolding the folded band to a flat layer

This restores the conglomerate band to the flat-lying configuration it had at

the time of deposition, two billion years ago, and gives us a

paleo-coordinate system that significantly improves data analysis … directions of

grade continuity are easier to identify, which improves the accuracy of local

grade estimation.

(28)

• Syngenetic versus epigenetic

• Paleo plate reconstructions

• Original depositional coordinates

(29)

Vertical trends in the proportions of the lithologies in drill

holes are consistent with changes due to sea-level fluctuations

and to uplift and erosion variations on the continent.

Horizontal changes are consistent with the normal progression

of lithologies into a marine environment.

(30)

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