During late morning trading, Tri-Star Holdings announced the execution of definitive agreements to acquire 80% of the mineral rights to the Wickenburg gold placer mining claim owned by Rusty Murphy. This 25-acre placer property located on the Hassayampa River is located in an area that was mined by a foreign group in the late 1980s. It has been estimated that 2 million to 3 million cubic yards of placer exists.
Scott Spooner, Tri-Star Chief Geologist, targeted and negotiated the deal. He stated that Azrock Mining began surveying the property early today. The company anticipates receiving updated sample information from the Company’s other mining claim’s COS #1 tests and has plans to announce the results publicly. These test results are expected to be delivered this week.
Tri-Star Management also reiterated that the date of record for its previously announced dividend has been set for this Saturday, November 15, 2008. Every shareholder on record at the appointed date will receive a shareholder letter and one share of Tri-Star Holdings, Inc. 144 restricted common stock for every ten shares of common stock held. The distribution date has been set for November 20, 2008. Fractional shares will be rounded up and mailed to shareholders of record according to the company.
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