TSTR.L Regulatory News (TSTR)

Tri-Star Resources plc ("Tri-Star" or the "Company")

Antimony Roaster Engineering Report

9 April 2015

Tri-Star, the integrated antimony development company, is pleased to provide an update on the Oman Antimony Roaster ("OAR") project.

Strategic & Precious Metals Processing LLC ("SPMP") a company registered in the Sultanate of Oman and in which Tri-Star owns 40%, has taken formal delivery of a third party engineering report ("Report") commissioned by SPMP in respect of the OAR. The Report discusses the viability of the overall OAR process as developed by Tri-Star and provides a capital expenditure estimate for the construction of the facility.

The Report estimates an overall capital cost of US$62.1 million for the facility, which is in line with previous estimates. The Report does not cover the cost of a pilot plant on site, which it is expected will become operational in advance of the main plant.

The OAR facility is located in the Free Zone of Port of Sohar, a nodal multi functional port that is co-owned and operated by the Port Authority of Rotterdam and the Government of Oman. The facility is sited on a 22 hectare site benefitting from access to the port, nearby utilities and access to low cost fuel sources, such as liquefied petroleum gas (LPG), from the port side oil refinery.

The antimony roasting facility is designed to modern environmental standards and will treat approximately 40,000 tonnes of antimony concentrates as well as direct shipping ores to produce approximately 20,000 tonnes per annum of antimony metal and antimony trioxide. The plant recently received its Provisional Environmental Permit as described in the announcement issued by Tri-Star on 20 February2015.

The US$70m funding package for the facility includes US$20m of equity from the SPMP shareholders, a US$10m mezzanine loan facility, in addition SPMP is negotiating a banking facility of up to US$40 million, and has signed a Facility Offer Letter with a local bank, as described in the recent Tri-Star announcement dated 16 February 2015.

Managing Director, Emin Eyi, commented on the Report:

"This is another important milestone which demonstrates the viability of the roaster project. Our focus in now to ensure that construction can commence before the end of the year".

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