SOURCE: Tri-Star Holdings, Inc.

November 12, 2008 07:09 ET

Tri-Star Holdings, Inc. Announces Equipment Purchase for Arizona Gold Mines

FT. LAUDERDALE, FL--(Marketwire - November 12, 2008) - TRI-STAR HOLDINGS, INC. (PINKSHEETS: TSHL) announced the company has executed purchase agreements for metals recovery and processing equipment for its COS #1, 2 and Wickenburg mines in Arizona. The company negotiated the purchase to acquire several necessary pieces of equipment to be installed and operated on location by Azrock Mining. This equipment is valued at over $200,000.00 new, but Tri-Star management stated that the equipment was located in good used condition after extensive research resulting in substantial savings to the company in association with production costs. Also, under the terms of the agreement, the equipment was purchased with a combination of restricted stock and cash. Once geological and operational assessments are completed on the COS #1 and #2 mines, as well as on the recently acquired Wickenburg mine, management together with Azrock Mining will establish plant locations at each site for installation of the processing equipment to maximize production efficiency. Management anticipates releasing several updates throughout this process.

Tri-Star President Anthony Mellone stated, "We are thoroughly satisfied with our negotiation of this equipment acquisition. Upon receipt of our assessments, together with the input of both our Chief Geologist Mr. Spooner and Azrock Mining we anticipate a speedy transition to production. We firmly believe that production revenues generated by our metals recovery division will assist in our efforts to enhance shareholder value. Furthermore, we are in the process of compiling disclosure information with regards to the company's operations across the board which we will disseminate via We believe that increased transparency is essential to market analysis and the valuation of our price per share which we believe is currently undervalued. Further details will be announced and also will accompany the dividend distribution to shareholders."

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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