SOURCE: Tri-Star Holdings, Inc.

November 25, 2008 07:09 ET

Tri-Star Holdings, Inc. Gold Mine, Dividend Update

FT. LAUDERDALE, FL--(Marketwire - November 25, 2008) - Tri-Star Holdings, Inc. (PINKSHEETS: TSHL) today released the following shareholder update and address from President Anthony Mellone in response to inquiries following our recent visit to the Wickenburg mine: On Thursday, Robert Chastain began training improved technique in the way of the trammel's operation to increase yields and processing efficiency. After increasing the water flow and decreasing the overall pitch, we started seeing gold. Once the equipment was calibrated we retrieved 1.4 grams of gold flakes and pieces out of one wheel barrel sample that had previously been processed with no yields. To boost our processing, we have begun digging a holding pond for water to be drawn on site. We also took out a one-inch layer of black sand and gold dust we believe to contain as much as 30% gold dust in the black sand. We estimate that we should retrieve one ounce per ton of gold (let alone silver and platinum) to start with. Azrock Mining should be processing upwards of 35 tons per day beginning this week with our current scale of operation. Assuming that all runs smoothly and barring any equipment delays, we should be able to maintain processing 35 tons a day, generating at least $20,000.00 a day in gold recovery revenues for the first two to three weeks ($140,000.00 producing seven days a week). We also anticipate the arrival of additional equipment on site within a week that, if on schedule, will boost our production to 100 tons a day. Production should reach full scale operations at 200 tons processed per day within two months -- a major landmark for the company.

We are now processing the video footage from the operations, and compiling pictures of the extracted gold and plan to have this content posted on by Wednesday. Additionally, all dividend shares have been mailed out. Registered holders will receive them at their registered address, and those held "in street name" will be received by the various financial institutions. If you have any questions about your dividend shares, please begin by inquiring with your broker.

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About Tri-Star Holdings, Inc. Tri-Star Holdings, Inc. ("the Company") Tri-Star is a diversified holding company targeting developing and undervalued technologies, or businesses and assets with massive potential for return and increased shareholder value. Operating in two principal industries through its medical and noble & precious mining divisions, the company's primary goal is to continue to develop its diversified operations while acquiring further asset-based companies that are either generating revenues or have proven assets with the potential for large profit margins. The Company intends to position itself as a major participant across many markets, both domestic and foreign, as a global participant across its primary industries.

Safe Harbor Provision

This news release includes forward-looking statements, including with respect to the future level of business for the parties. These statements are necessarily subject to risk and uncertainty. Actual results could differ materially from those projected in these forward-looking statements as a result of certain risk factors that could cause results to differ materially from estimated results. Management cautions that all statements as to future results of operations are necessarily subject to risks, uncertainties and events that may be beyond the control of Tri-Star Holdings, Inc. and no assurance can be given that such results will be achieved. Potential risks and uncertainties include, but are not limited to, the ability to procure, properly price, retain and successfully complete projects, the availability of technical personnel, changes in technology and competition.

Contact Information

  • Contact:

    Anthony Mellone
    President & CEO
    Tri-Star Holdings, Inc.
    Email Contact