Subscription raises £316,000

25 October 2019

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

Subscription raises £316,000

Tri-Star Resources plc (AIM: TSTR), the minerals processing company, is pleased to announce that it has raised £316,000 (before expenses) by way of a subscription of 987,500 new ordinary shares of 5p each in the capital of the Company ("New Ordinary Shares") at a price of 32 pence each (the “Subscription”).   The net proceeds will be used for general working capital requirements.  625,000 of the New Ordinary Shares have been subscribed by funds under the discretionary management of Odey Asset Management LLP (“the Odey Funds”).

Following the Subscription, the Odey Funds will own 68,883,299 ordinary shares in the Company, representing approximately 72.38 per cent. of the Company’s total enlarged issued share capital.  As a substantial shareholder, the Subscription by the Odey Funds is being treated as a related party transaction in accordance with AIM Rule 13. Accordingly, David Facey and Adrian Collins, acting as the independent directors, consider, having consulted with the Company’s nominated adviser, SP Angel Corporate Finance LLP, that the terms of the Subscription are fair and reasonable insofar as the Company’s shareholders are concerned.

Details of the Subscription

The Company has applied for admission of the 987,500 New Ordinary Shares to trading on AIM. Dealings are expected to become effective on or around 30 October 2019 ("Admission"). The New Ordinary Shares represent approximately 1.04% of the total enlarged issued share capital.

Total Voting Rights

Following Admission, the Company will have 95,173,618 Ordinary Shares in issue. The Company has no shares in treasury, therefore the figure of 95,173,618 should be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change of their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

 Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No. 596/2014 until the release of this announcement.

**ENDS**

For further information please visit www.tri-starresources.com or contact:

Tri-Star Resources plc David Facey, CEO/ CFO	c/o SBP Tel: [phone]
St Brides Partners (Financial PR) Isabel de Salis / Beth Melluish	Tel: [phone]
SP Angel Corporate Finance (Nominated Adviser) Robert Wooldridge / Jeff Keating	Tel: [phone]
finnCap Ltd (Broker) Scott Mathieson / Camille Gochez	Tel: [phone]

Notes to Editors:

Tri-Star’s principal interest is in an antimony and gold production facility (the “SPMP Project”). The SPMP Project is based in Sohar, Sultanate of Oman, and is being developed by Strategic & Precious Metals Processing LLC (“SPMP”), an Omani company in which Tri-Star has a 40% equity interest.