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TriStar Gold Inc. (TSXV: TSG,OTC:TSGZF) (OTCQB: TSGZF) (the Company or TriStar) is pleased to provide an update on the Civil Public Action initiated by the Federal Prosecutor's Office ("MPF"). Legal filings were submitted in the ongoing Federal Civil Action in Brazil, concerning the environmental licensing of TriStar's Castelo de Sonhos gold project.
The MPF and the National Foundation for Indigenous Peoples (FUNAI) argue that the State of ParĂ¡'s environmental licensing process failed to properly assess potential impacts on the Indigenous KayapĂ³ communities of the BaĂº and Menkragnoti Territories. They claim the licensing should have included an Indigenous Component Study (ECI) and formal Free, Prior and Informed Consultation (FPIC).
The State of ParĂ¡ and TriStar strongly contest these claims. The Company asserts that:
the environmental impact assessment (EIA/RIMA) was comprehensive, prepared by independent specialists, and underwent more than two years of review by the state regulator (SEMAS);
technical studies demonstrate no direct or indirect impacts on Indigenous territories;
hydrological, geological, archaeological, and social assessments show no pathways of impact;
the project's tailings facility design meets stringent safety standards, and worst-case scenario dam-break modelling shows no risk to Indigenous territories.
TriStar maintains that the licensing is fully compliant with Brazilian regulations. TriStar has demonstrated that FUNAI's own technical assessments did not identify impacts requiring an ECI, and that the action brought by the MPF lacks technical basis. The Company requests dismissal of the lawsuit or, alternatively, a limited technical review that respects the procedural rules.
Nick Appleyard, TriStar's President and CEO stated: "We have now filed our formal response in the proceedings initiated by the Federal Public Prosecutor's Office. The matter has entered the next procedural stage before the Federal Court, and we believe the technical record clearly supports the integrity of the environmental licensing process. We remain confident in the strength of our position and will continue to engage constructively with the authorities to ensure full transparency and regulatory certainty for the project."
Mr. Appleyard continued, "Management remains focused on ensuring regulatory clarity for the project while working toward a timely and constructive resolution of the matters raised in the proceedings."
While this action is ongoing, the Licença Prévia (Preliminary License or LP) for Castelo de Sonhos remains in place, with no restrictions. Please see Figure 1 below for a visual of the Castelo de Sonhos project location relative to Indigenous Territories.
Figure 1: Castelo de Sonhos location relative to Protected and Conserved Areas
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4509/288705_ad7b6105a428ba64_002full.jpg
About TriStar
TriStar Gold is an exploration and development company focused on precious metals properties in the Americas. The Company's current flagship property is Castelo de Sonhos in ParĂ¡ State, Brazil. The Company's shares trade on the TSX Venture Exchange under the symbol TSG and on the OTCQB under the symbol TSGZF. Further information is available at www.tristargold.com.
On behalf of the board of directors of the company:
Nick Appleyard
President and CEO
For further information, please contact:
TriStar Gold Inc.
Nick Appleyard
President and CEO
480-794-1244
info@tristargold.com
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 release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Forward-Looking Statements
Certain statements contained in this press release 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, the Company's expectations regarding the outcome of the Civil Public Action referenced above, as well as the related injunction application. 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 the ongoing litigation process, and legislative, political or economic developments in Brazil. 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/288705
