SOURCE: Tri-Star Holdings, Inc.

October 09, 2008 12:45 ET

Tri-Star Holdings, Inc. Closes Acquisition of Arizona Gold Mines

FORT LAUDERDALE, FL--(Marketwire - October 9, 2008) - TRI-STAR HOLDINGS, INC. (PINKSHEETS: TSHL), a publicly traded company currently on the Over the Counter, announced today that it has signed definitive agreements acquiring two gold mines in the Salome valley, Arizona. Under the terms of the definitive agreement, the company has acquired 80.0% of the mineral rights of claims COS #1 & #2 in a $4,000,000 deal. The Salome Claims COS #1 & #2 are located adjacent to the historic Bunker Hill and Hercules mines and are estimated to contain over $50,000,000.00 in gold ore. Management added that samples have already been collected from both of the properties and are currently being delivered to the assay office in Tucson, Arizona. Management anticipates releasing the assay results and further details next week, but noted that the company mining engineer that collected the samples observed the ore to be contained within a high concentration gold vein. In addition to the estimated reserve of gold, the properties are known to have large amounts of silver, copper, and lead, further diversifying the company's metal interests in line with management's vision of growth for its metals industry division. New details about the COS mineral rights claims, including pictures and reports will be updated on the company's websites www.tristarcorporate.com and www.tristargold.com.

CEO Anthony Mellone stated: "We are very excited about all the mineral rights claims being presented to the company by our geologists in this opportune time for company growth. Their tremendous due diligence and encyclopedic knowledge of geology, minerals and claims contributes daily to our commitment to increased shareholder value. We are confident in our continued growth and accumulation of assets. Also, we have begun to submit 'Intent to Mine' notices and pertinent filings with the BLM for various properties that we have already acquired in addition to continuing to target key acquisitions. Furthermore, we are in negotiations with Azrock Mining of Arizona for production and logistics on COS #1. We will release more details on this and other developments as they arise in the very near future."

For more information, visit www.tristarcorporate.com and www.tristargold.com.

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.

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