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Blue Star Gold Corp. (TSXV: BAU,OTC:BAUFF) (OTCQB: BAUFF) (FSE: 5WP0) ("Blue Star" or the "Company") is pleased to announce its participation in the Government of Nunavut's Discover, Invest, Grow ("DIG") program. Through DIG the Company will receive up to a $250,000 contribution toward its drilling activities at its Auma Project.
The DIG program supports advancing mineral exploration activities in Nunavut and encourages local Nunavut employment at Blue Star's projects. Blue Star has received an initial contribution of $125,000, and an additional $125,000 contribution is expected following review/approval of the Company's 2026 exploration summary report.
Filing of the Ulu Gold Project Technical Report
The Company also announces that it has filed on SEDAR an independent Technical Report (the "Technical Report") prepared in accordance with National Instrument 43-101 for the Ulu Gold Project (the "Project") in Nunavut, Canada.
The Technical Report titled "Updated Mineral Resource Estimate and Technical Report on the Ulu Gold Project, Nunavut, Canada" is dated July 06, 2026, and supports the disclosure made by the Company in its May 21, 2026, news release announcing the updated Mineral Resource Estimate at the Ulu Gold Project. There are no differences between the Technical Report and the information disclosed in the May 21, 2026, news release.
The Technical Report can be found under the Company's profile on SEDAR (www.sedarplus.ca) and on the Corporation's website (www.bluestargold.ca).
Highlights of the Updated Mineral Resource Estimate
- Measured and Indicated Mineral Resource of 2.204 million tonnes at an average grade of 7.87 grams per tonne ("g/t") gold ("Au") for 558,000 ounces of gold
- Inferred Mineral Resource of 3.263 million tonnes at an average grade of 4.54 g/t Au for 476,000 ounces of gold
- Existing metallurgical studies suggest that all zones within the MRE could potentially be co-processed, achieving gold recoveries exceeding 90%
- Gold mineralization remains open to further expansion across all contributing zones
- The numerous gold showings and underexplored zones across the Company's district-scale projects present strong potential for expanding its Mineral Resource base
"Blue Star is a grateful recipient of the DIG exploration support funds," stated Blue Star's CEO Grant Ewing. "There is abundant, yet-to-be realised value in the vast underexplored and highly prospective Territory of Nunavut. Exploration support programs like this improve investor confidence, demonstrating that Nunavut is an excellent jurisdiction for precious and critical metals exploration and development."
Grays Bay Road and Port Project
On June 24, 2026, the Government of Canada stated it had initiated consultations to consider listing the Grays Bay Road and Port Project (GBRPP) under Schedule 1 of the Building Canada Act. Following the March 12, 2026, announcement by Prime Minister Mark Carney that the GBRPP would be referred to the Major Projects Office, this is a further endorsement of the national significance of the GBRPP, which can accelerate its development (https://www.westkit.ca/news). Blue Star's projects are strategically located 40-100 km south of the proposed Grays Bay deep-water port, with the planned all-weather Grays Bay Road corridor passing very close to the Company's projects.
The independent and Qualified Person for the Mineral Resource Estimate, as defined by NI 43-101, is David Burga, P. Geo. from P&E Mining Consultants Inc. Darren Lindsay, P. Geo. and Vice President Exploration for Blue Star, is a Qualified Person under National Instrument 43-101 ("NI 43-101") and has reviewed and approved the technical information contained in this news release.
About Blue Star Gold Corp.
Blue Star is a mineral exploration and development company focused on Nunavut, Canada. The Company controls over 420 square kilometres of highly prospective and underexplored mineral properties in the High Lake Greenstone Belt. Its principal assets include the Ulu Gold Project - comprised of the Ulu Mining Lease and Hood River Property, and the Roma and Auma Projects. The Ulu Mining Lease hosts the high-grade Flood Zone Gold Deposit, and the Company's broader land package contains numerous high-priority gold and critical mineral targets, providing substantial upside potential for Mineral Resource expansion.
Blue Star is listed on the TSX Venture Exchange (BAU), the OTCQB Venture Market (BAUFF), and the Frankfurt Exchange (5WP0). Additional information is available at www.bluestargold.ca.
For further information, please contact:
Grant Ewing, P. Geo., CEO
Telephone: +1 778-379-1433
Email: info@bluestargold.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this Release.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS AND INFORMATION
This press release contains "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods. Examples of forward-looking statements include, among others, statements we make regarding prospective income and revenues, anticipated levels of capital expenditures for the fiscal year, expectations of the effect on our financial condition of claims, litigation, environmental costs, contingent liabilities, and governmental and regulatory investigations and proceedings, and estimates of mineral resources and reserves on our properties.
Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations, and assumptions regarding the future of our business, plans and strategies, projections, anticipated events and trends, the economy, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: economic and financial conditions, including volatility in interest and exchange rates, commodity and equity prices and the value of financial assets, strategic actions, including acquisitions and dispositions and our success in integrating acquired businesses into our operations, developments and changes in laws and regulations, including increased regulation of the mining industry through legislative action and revised rules and standards applied by the regulatory bodies in Nunavut, changes in the price of fuel and other key materials and disruptions in supply chains for these materials, closures or slowdowns and changes in labour costs and labour difficulties, including stoppages affecting either our operations or our suppliers' abilities to deliver goods and services to us, as well as natural events such as severe weather, fires, floods and earthquakes or man-made or other disruptions of our equipment, and inaccuracies in estimates of Mineral Resources and/or Mineral Reserves on our mineral properties.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/304013
