SOURCE: Tri-Star Holdings, Inc.

November 11, 2008 10:36 ET

Tri-Star Holdings, Inc. Announces Acquisition of Wickenburg, AZ Mineral Rights

FT. LAUDERDALE, FL--(Marketwire - November 11, 2008) - TRI-STAR HOLDINGS, INC. (PINKSHEETS: TSHL) announced the company has executed definitive agreements acquiring eighty percent of the mineral rights to the Wickenburg gold placer mining claim owned by Rusty Murphy, a 25-acre placer property located on the Hassayampa River at the confluence of Fool's Canyon about 12 miles north of Wickenburg, AZ. This is an area that was mined by a foreign group in the late 1980s. An estimated 2 million to 3 million cubic yards of placer exists.

Placer mining refers to the process of mining alluvial deposits for minerals. Tri-Star Chief Geologist Scott Spooner targeted and negotiated the deal and stated that sampling and testing of alluvial materials to determine the quality and quantity of the precious metals reserves in the placer claim COS #1. He also noted that Azrock Mining has initiated surveying the property early today. Management also stated that it anticipates receiving updated sample information from the Company's other mining claim's COS #1 tests recently completed, and that it will announce the results publicly. We expect the test results delivered to the Company this week.

Furthermore, Tri-Star Management re-iterated that the date of record for its previously announced dividend is this Saturday, November 15, 2008. Every shareholder of record as of November 15, 2008 shall receive a shareholder letter and one share of Tri-Star Holdings, Inc. 144 restricted common stock for every ten shares of common stock held as of that date. Distribution of the dividend shall commence on November 20 with fractional shares rounded up and mailed to shareholders of record.

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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