Gold

Blue Star Gold Corp. (TSXV: BAU) (FSE: 5WP0) (OTCQB: BAUFF) ("Blue Star" or the "Company") is pleased to provide results from an additional eight (8) drill holes from the 2021 exploration program at its Ulu Project located in the High Lake Greenstone Belt, Nunavut. Results from ten (10) drill holes remain outstanding.

Highlights from the recently completed drill program:

  • Central Zone fence: Central-C (21BSG010) returned 5.21 g/t gold over 3.00 metres approximately 50 metres vertically below surface

  • Axis Zone returns continuous anomalous values from modelled structure adjacent to the underground workings; 21BSG009 returns 2.51 g/t gold over 3.00 metres

  • Axis/Central zone returns gold values at a similar geochemically defined contact as the one that hosts the Flood Zone Deposit; 21BSG015 returned 3.80 g/t gold over 0.79 metres

  • Potential important new targeting tool identified:

    • Geochemical sampling results have identified high, moderate, and low titanium basalts (high-Ti, mod-Ti, low-Ti) at Ulu. The SW dipping Flood Zone deposit is hosted in a high angle structure juxtaposing the high-Ti basalt unit with the mod-Ti basalt on the west limb of the Ulu anticline. The NE dipping Central "C" Zone is found at the faulted contact between the high-Ti and mod-Ti units on the east limb of the fold

    • The recognition that the host structures for gold mineralization occur at faulted contacts between lithochemically distinct mafic flows provides a deeper understanding of structural controls on mineralization and allows for more focused targeting for future drill programs

CEO, Grant Ewing, stated, "It is very encouraging that the technical team continues to find new and innovative ways to more effectively assess the multitude of target areas over our extensive district scale landholdings. High precision lithogeochemistry is unraveling the volcanic stratigraphy and linked with our structural interpretation, we now have a much better understanding of the controls of the major mineralized breaks. The current priority sequence is initially testing targets near our high-grade Flood Zone gold deposit, and gradually stepping out to more regional priority target zones. We look forward to receiving the balance of the results from our 2021 program as some of the strongest results are anticipated in the drill holes that are still outstanding."

"Results for an additional ten drill holes are outstanding from the 2021 exploration program in the NFN, Central and Gnu areas but are expected soon. With recent geochemical work refining the stratigraphy hosting the better-known mineralized zones in conjunction with our results to date, the exploration team is working on defining a balanced infill, expansion and new discovery program for 2022," commented Darren Lindsay, Vice President Exploration.

Summary

Recent reviews of the geochemical data have indicated the presence of a 'high-Ti' and at least one 'low-Ti' mafic volcanic sequence. The contact zones of the high-Ti sequence appear to be closely associated with strong alteration and gold anomalism including defining the Flood Zone deposit structural corridor. Further work is required to conclusively add this targeting tool to our exploration toolbox.

The results presented today are the initial drill evaluations of the Axis Zone, a target zone located in the hanging-wall of the Flood Zone Deposit within 100 metres of the historical underground workings, and a drill fence across three parallel zones known as Central A, B, and C located approximately 250 metres east of the Flood Zone deposit.

The Axis Zone target was defined by historical surface sampling, alteration mapping and limited historical shallow drilling. Blue Star drilling confirmed the mineralized trend with stronger results located closer to the projected lateral intersection of the Axis Zone and Central Zone. This is also an area where the geochemically defined stratigraphy indicates a similar structural juxtaposition as the one observed at the Flood Zone.

A drill fence testing the Central Zones evaluated the three known mineralized planes from shallow 50 metre vertical levels to deeper 300 metre vertical levels below surface. Drill results show that gold mineralization extends to the deepest level tested. Current understanding suggests that the three zones may converge at depth, providing a compelling target area for future drill campaigns.

One additional drill hole from the original Gnu polymetallic vein is reported which did not intercept the expected target most likely due to a change in structural trend of the interpreted vein feature. Additional detailed drilling is required to follow up in this target area in 2022 (previously reported 21BSG006: 2.18 m of 11.06 g/t gold).

Discussion of results

Gnu Zone

21BSG-008: Gnu Zone original polymetallic vein test. This drillhole tested the continuation of a modelled high-grade polymetallic quartz vein at a vertical depth of 90 metres, collared south along strike from BS2020-ULU-007 (52.7 g/t gold from 25.0 - 27.0 m), 92VD161 (18.8 g/t gold from 165.37 - 167.85 m), and 21BSG-006 (11.06 g/t gold from 48.04 - 50.22 m). The drillhole intersected gabbro for the length of the hole, with localized moderate to strong leucoxene alteration. Although some intervals of anomalous arsenic were seen in assay data, no intervals of anomalous gold were reported. The polymetallic quartz vein was not intersected, but lithological and assay data has helped inform a new working interpretation of the location, azimuth and dip of the target which will be used for further drill evaluation.

Axis Zone

21BSG-009: Axis Zone acicular trend. This drillhole tested two modelled basalt-hosted acicular arsenopyrite trends situated between the Flood Zone and the Central acicular arsenopyrite trends. A highly strained interval with quartz, 4% acicular arsenopyrite, 7% blebby chalcopyrite, 2% blocky chalcopyrite and 4% blocky pyrite was intersected from 83.00 - 86.00 metres and returned gold assay values of 2.51 g/t. These drill results helped inform a more robust reinterpretation of the Axis Zone acicular arsenopyrite trend, which has been remodelled as one, rather than two, planes subparallel to both the Flood Zone and the Central acicular arsenopyrite trends. This interpretation is supported by drill results from 21BSG-016.

21BSG-016: Axis Zone acicular trend. Similar to hole 21BSG-009, this drillhole tested two modelled acicular arsenopyrite Axis trends. It is collared 60 metres northwest of 21BSG-009 and intersects variably textured and altered basalt for the length of the hole. From 88.05 - 89.49 metres, 2.26 g/t gold (including 4.30 g/t gold over 0.49 metres) was intersected in a basalt-hosted calc-silicate altered quartz vein with 7% subhedral arsenopyrite, 2% pyrrhotite and 1% pyrite. These drill results support the re-interpretation of the location, azimuth and dip of the Axis plane which was initiated by results from hole 21BSG-009.

21BSG-015: Axis Zone/Central acicular trend. This hole tested the two modelled acicular arsenopyrite trends within the Axis zone and the western-most plane of the Central trends (the 'C' trend). Basalt with two minor meter-scale intervals of sediment is intersected from the top to bottom of the hole. From 78.08 - 78.87 metres an interval hosting 15% acicular arsenopyrite, 3% blebby arsenopyrite, 3% blocky and stringers of pyrite, and 2% blocky and blebby pyrrhotite returned 3.80 g/t gold (including 6.80 g/t gold from 78.08 - 78.44 metres). This interval correlates to the Central C trend, or the intersection of one or more Axis trends with the Central C trend.

Central Zones

21BSG-010: Central Zone acicular trend. This drillhole tested the Central Zone B and C acicular arsenopyrite trends and intersected variably textured and altered basalt throughout. At 16.00 - 17.00 metres depth, the Central B plane is interpreted to be intersected as a brecciated structure which returned a modest, but relatively elevated, gold value of 0.42 g/t over 1 metre. The C plane is intersected from 91.00 - 94.00 metres as a brecciated and highly strained interval of fine-grained basalt, with strong silicification and bands of biotite and chlorite alteration, with 10% acicular arsenopyrite, 4% pyrrhotite, 3% chalcopyrite, and 3% pyrite. The interval grades 5.21 g/t gold over 3 metres. This interval corresponds with a transition from high-Ti basalt outside of the anomalous gold zone to low/moderate-Ti basalt from 92.00 - 94.00 metres. From 156.00 - 157.00 metres, 1.94 g/t gold over 1 metre is intersected, corresponding with a new plane of interest.

21BSG-011: Central Zone acicular trend. This drillhole tested the Central A, B, and C planes, and intersected variably textured basalt with minor sediment throughout. From 20.00 - 21.12 metres the Central A plane was intersected in basalt, grading 1.08 g/t gold over 1.12 metres, and correlating with a transition from moderate-Ti to low-Ti basalt. The Central B plane was not intersected or not mineralized. At the predicted depth, basalt is strongly altered (variably bleached from 113 - 124 metres, with 5% chaotically oriented mm-scale quartz-carbonate-Fe oxide veinlets). The Central C plane is intersected between 192.74 - 198.40 metres. The gold grade is low, but relatively elevated (0.35 g/t over 1 metre from 192.21 - 193.21 metres; 0.69 g/t over 1.2 metres from 197.20 - 198.40 metres). A sedimentary unit intersected just above the weakly anomalous basalt intersection has accommodated ductile (folded primary mica and chlorite) and brittle (two intervals of fault gouge at 10 cm and 21 cm wide) strain.

21BSG-012: Central Zone acicular trend. This hole tested all three Central planes. It is collared in gabbro which extends for ~14 metres followed by a ~15 metre interval of sediment then basalt for the rest of the hole, with one ~30 metre interval of gabbro from 247.80 - 276.10 metres. None of the planes of interest are well expressed. Intervals of high strain and brecciation, sometimes with fault gouge, may be the expression of the Central planes in this drillhole. Not corresponding to a known zone, relatively elevated gold at 0.27 g/t over 1.07 metre occurs from 15.00 - 16.07 metres at the margin of a fine-grained basalt and it's lower, faulted contact with sediment. The basalt-sediment contact is mineralized in other target areas.

The predicted depth of the Central A plane coincides with a basalt and its lower contact with a gabbro at 247.80 metres; this contact is marked by a highly strained mineralized zone from 242.24 - 242.60 metres comprising 6% pyrrhotite and 4% pyrite. The interval from 386.18 - 393.40 metres contains a 10 cm wide interval of brecciation within a high strain zone and up to 5% pyrrhotite-pyrite, and a 55 cm wide interval with moderate fault gouge and several fractures. No anomalous gold values were returned, but the interval is at the correct depth to correspond with the Central C plane.

21BSG-014: Central Zone acicular trend. This drillhole targeted the three Central planes. Like hole 21BSG-012, it is collared in basalt, and intersects thin intervals of gabbro then sediment at the top of hole, then basalt for the remainder of the hole. Two intervals with anomalous gold correspond to the Central B and C planes. From 345.12 - 346.12 metres, 1.18 g/t gold is intersected over 1 metre; from 358.58 - 362.62 metres, 2.72 g/t gold is intersected over 4.04 metres.

Table 1. Drill hole results (uncut) using core lengths compositing +1 g/t gold values with acceptable internal waste of up to 2 metres. True widths estimated to be 90% - 95% of intervals.

Hole ID Target From (m) To (m) Length (m) Gold g/t
21BSG-008 Gnu - polymetallic nsi
21BSG-009 Axis Zone 83.00 86.00 3.00 2.51
21BSG-010 Central Zone - C 91.00 94.00 3.00 5.21
Includes 92.00 93.00 1.00 7.57
21BSG-010 Central Zone - NEW 156.00 157.00 1.00 1.94
21BSG-011 Central Zone 20.00 21.12 1.12 1.08
21BSG-012 Central Zone nsi
21BSG-014 Central Zone 345.12 346.12 1.00 1.18
21BSG-014 Central Zone 358.58 362.62 4.04 2.72
Includes 358.58 360.62 2.04 3.60
Includes 361.62 362.62 1.00 3.55
21BSG-015 Axis/Central Zone 78.08 78.87 0.79 3.80
includes Axis/Central Zone 78.08 78.44 0.36 6.80
21BSG-016 Axis Zone 88.05 89.49 1.44 2.26
Includes 89.00 89.49 0.49 4.30

 

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Figure 1: Map of the Ulu and Hood River Area.

To view an enhanced version of Figure 1, please visit:
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Figure 2: Plan Map of 2021 Drilling.

To view an enhanced version of Figure 2, please visit:
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2021 Exploration Program

Blue Star initiated its 2021 exploration program on June 23 with a geophysics campaign, a drill campaign starting on July 16th, and surface exploration on August 1st and successfully completed all phases of the program in September.

The Exploration campaign evaluated several high priority targets in the area of the known high-grade Flood Zone Gold Deposit on the Ulu Project, and on high potential targets along the Ulu fold hinge. Numerous priority targets exist along the 5 km long Ulu Anticline which extends from the Flood Zone Deposit onto the contiguous Hood River Project up to the North Fold Nose Zone.

Targets considered high priority on the Hood River and Roma Projects had basic initial exploration campaigns to better understand host geology, confirm structures and existing anomalous zones and undertake initial geochemical surveys to determine potential to generate additional targets of interest.

Objectives of the 2021 program include better understanding the controls of higher-grade zones within the hosting structures, evaluating additional structures on and adjacent to the Ulu fold hinge, and defining additional targets for potential near-term discovery.

The balance of the assay results from the program will be reported as they are received. The slow turnaround of assays results from the lab is an issue facing the entire sector due to covid-related disruptions and the high level of mineral exploration in Canada.

Technical Disclosure

Full collar tables and assay tables will be made available on the website in due course. Core samples were cut by core saw with one half of the core retained and the other half sent for analysis. Samples are being prepared by ALS Yellowknife-Geochemistry and being analyzed at ALS Global, North Vancouver. Gold analysis is by fire assay using ALS code Au-AA26 and multielement analysis by code ME-MS61. Control samples include a crush duplicate every 20 samples; certified reference material is being inserted once every ten samples. Reported assay intervals are uncapped, use a minimum 1 g/t gold assay cut off with the inclusion of up to 2 metres of material below cut-off. True widths for all but the Flood Zone are not known due to lack of drilling and may range from 90% to 95% of drilled lengths.

Qualified Person

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 gold company focused on exploration and development within Nunavut, Canada. The Company owns the Ulu Gold Property lease, an advanced gold project, and the highly prospective Hood River Property that is contiguous to the Ulu mining lease. With the recently expanded Roma Project, Blue Star now controls approximately 27,000 hectares of highly prospective and underexplored mineral properties in the High Lake Greenstone Belt, Nunavut. A significant high-grade gold resource exists at the Flood Zone deposit (Ulu lease), and numerous high-grade gold occurrences and priority targets occur throughout the Ulu, Hood River and Roma Projects.

Blue Star is listed on the TSX Venture Exchange under the symbol: BAU, on the Frankfurt Exchange under the symbol: 5WP0, and on the OTC under the symbol: BAUFF. For information on the Company and its projects, please visit our website: 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 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, future 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 reserves on our mineral properties.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/110701

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BAU:CA
Blue Star Gold

Blue Star Gold


Overview

Nunavut, Canada's easternmost territory, was a marvel of natural resources and investment opportunities long before its split from the Northwest Territories in 1999. Since then, the territory has seen a mining and economic boom that many new, modern states rarely see. Mineral exploration investment has increased five-fold and Nunavut is now the northern leader in exploration investment.

On the global stage, Nunavut ranks within the best 30 jurisdictions worldwide based on the geologic attractiveness and government policies in support of exploration. The territory hosts a perfect storm of investor interest and several highly prospective precious minerals projects, including an operational diamond mine and permitting-stage gold projects.

Blue Star Gold (TSXV: BAU, FSE: 5WP0, OTCQB: BAUFF) is an exploration and development company focused on high-grade gold and silver projects in Nunavut. The company delivers a significant opportunity for value creation based on its highly prospective precious metal assets and resource growth potential. Blue Star's experienced and skilled team primes the company for success in mining endeavors and strong relationship formation with regulatory bodies and local communities.

Nunavut boasts a politically stable and mining-friendly jurisdiction. Over several decades, the territory has built significant investor relations in the natural resource sector and hosts some of the lowest capital, small business and corporate taxes in the country. These conditions strategically position Blue Star Gold for fast-tracked development and provide the excellent potential for resource expansion and future advanced drilling campaigns.

The company currently has two contiguous gold projects in operation, its flagship Ulu gold project and Hood River property. The Ulu gold project hosts an extensive high-grade gold resource that Blue Star intends on expanding in the future. New discoveries on this core asset also demonstrate high-quality mine transformation potential.

Ulu's main deposit called Flood Zone has approximately 605,000 ounces of gold measured and indicated at grades of 7.5 g/t gold over 2.5 million tonnes. Further inferred resources show an additional 226,000 ounces of gold at 5.57 g/t over 1.26 million tonnes.

The Hood River property is relatively unexplored but poses an exciting opportunity for precious metal discovery. Historic work from neighboring projects forecast promising gold yield, which has since been supported by high-grade surface samples on numerous showings on the property. Blue Star currently has over 20 gold drill targets identified for future resource growth.

When asked about immediate plans for the next 12 months, Blue Star Gold CEO Grant Ewing discussed advanced technological data collection and analysis. “We've had several generations of work, but no one has really put the data altogether. So that's the first step we've undertaken with this Ulu project." This foundational step would create an in-depth geological scaling model of the property compiled in a state-of-the-art GIS database.

Much of Blue Star's success can be attributed to its very supportive shareholder base and strong management team. Combining expertise from geological, exploration and financial sectors, the management and technical team primes the company for significant growth.

With a core gold asset and another very high-quality exploration project, the company has a clean focus that prioritizes development and stakeholder interests.

Company Highlights

  • Blue star Gold is a Vancouver-based junior resource company focused on exploring and developing high-quality gold and silver projects in Nunavut, Canada.
  • The company is currently operating two gold exploration projects, its flagship Ulu gold project and its Hood River project.
  • The Ulu gold property hosts two primary deposits, the Flood Zone and Gnu Zone. The Flood Zone deposit contains over 600,000 ounces of gold indicated at grades around 7.5 g/t gold with additional inferred resources.
  • The Hood River project presents Blue Star with an exciting exploration opportunity of over 20 prospective gold targets on the property. The limited exploration history also offers an entry-level opportunity for investors.
  • The company is currently building the first fully compiled GIS database for its projects. This database allows Blue Star to analyze mineral reports for better geological modeling and resource expansion.
  • Blue Star Gold is well-positioned with a strong shareholder portfolio. Currently, management and insiders hold over a third of the company.
  • Blue Star Gold acquired Roma Mineral Exploration Agreement consolidating 40 Kilometres of the High Lake Greenstone Belt

Key Projects

Ulu Gold Project

The Ulu property covers an area of 947 hectares approximately 523 kilometers north of Yellowknife, Northwest Territories, and within the Kitikmeot Settlement Area of Nunavut. The project site is accessible via fixed-wing aircraft or seasonal ice road and benefits from local infrastructure, including telecommunications, administrative and housing structures.

The property's main deposit, the Flood Zone, is a northwest-trending, shear hosted anastomosing vein/alteration system. A 2020 exploration program reported gold assay results that measured 14.95 g/t gold over 13.8 meters (upper zone) and 9.65 g/t gold over 6.0 meters (lower zone). Additionally, the secondary Gnu Zone deposit has seen partial drilling exposure of its inferred 66,000 ounce gold resource and it is open for expansion with numerous proximal targets.

In 2020, Blue Star conducted a significant diamond drilling program at its Ulu and Hood River properties. The operation included 7,624 meters of drilling over 38 diamond drilling holes.

Future plans include an updated resource estimate, as well as exploration focused on expanding resources at the Flood and Gnu deposits. Past metallurgical tests indicate excellent gold recoveries, which poses exciting possible discoveries and economic prosperity in Blue Star Gold's future.

Hood River Project

The Hood River property spans an 8,015 hectare area in Nunavut, Canada, and has a 20 year renewable Mineral Exploration Agreement (MEA) issued by Nunavut Tunngavik in June 2013. The property covers the southern portion of the High Lake Greenstone Belt, known for rich gold resources and structural characteristics similar to the prolific Red Lake Belt in Ontario.

Exploration of the property identified 26 mineralized showings spread across five main zones: North Fold Nose, Crown, Penthouse South, Penthouse North and Blackridge. A 2019 drilling and prospecting program reported significant mineral samples graded between 3.9 g/t gold and 31 g/t gold, the highest of which was at North Fold Nose.

The project's underexplored history presents investors with an entry-level opportunity for this high-quality project. Blue Star Gold plans to conduct further prospecting and sampling to identify and prioritize prospective gold targets.

Management Team

Grant Ewing, P. Geo. - CEO

Grant Ewing is an accomplished mining executive with a strong technical foundation and solid business acumen. He is a professional geologist by background and has over 25 years of experience in the mineral industry and the last 10 years in senior executive roles.

Ewing's extensive knowledge base covers the entire mine development cycle, from early-stage exploration to production, in several different commodities. He has experience building value by managing the development of exploration assets from the discovery phase to economic evaluation. Strong corporate development and investor relations, merger and acquisitions and capital markets knowledge complement his mineral industry experience.

Ewing has experience with several successful mineral exploration and development companies at the executive level throughout his career, including Rockridge Resources, Kiska Metals/AuRico Metals and Acadian Mining, among others. Ewing is also a qualified person under National Instrument 43-101.

Robert Metcalfe - Chairman & Director

Robert James Metcalfe is a lawyer and was a senior partner with the law firm Lang Michener LLP for 20 years. He is the former President and CEO of Armadale Properties and Counsels to all of the Armadale Group of Companies, with significant holdings across numerous industries including finance, construction of office buildings, airport ownership, management and refurbishing, land development and automotive dealerships as well as newspaper publishing, radio and television stations. Metcalfe has served as president, CEO, lead director, chairman and committee member on numerous publicly listed natural resource and industry company corporate boards in Canada, the USA, England, South America and Africa.

As director and shareholder, Metcalfe has been engaged in numerous acquisitions, divestitures, corporate reorganizations, financings and corporate improvements, and served on multiple special committees across many sectors. He is a member of the Institute of Corporate Directors and a member in good standing of the Law Society of Upper Canada.

Andrea Yuan - CFO

Andrea Yuan is a Chartered Professional Accountant in British Columbia and a Certified Public Accountant in New Hampshire. Yuan obtained her Bachelor of Economics from Shanghai University of Finance and Economics in 1994 and started her career as an internal auditor and then as team head of the internal audit department at the Bank of China's Shanghai Pudong branch in China from 1994 to 1999. After arriving in Canada in 1999, she worked in various senior accounting positions. From 2004 to 2011, she worked at Davidson and Company LLP, Chartered Accountants, where she advanced to an audit principal. In November 2011, Yuan started her own financial and management consulting company, Black Dragon Financial Consulting Services Inc. She acted as CFO for several public companies listed on the TSX Venture Exchange.

Darren Lindsay, P. Geo. - Vice President Exploration

Darren Lindsay is a registered professional geoscientist in BC, NU and NT with over 25 years of mineral exploration experience across four continents, focusing on orogenic gold systems. In addition to more than 15 years working in the Slave Structural Province with BHP Minerals, Inmet Mining, Miramar Hope Bay, Newmont and NxGold, Lindsey has also worked on orogenic gold deposits in Ontario, Guyana, Ghana and Western Australia. He was directly involved with and led teams for belt-scale exploration, resource expansions, and feasibility level studies of gold deposits in the Hope Bay Belt, Nunavut. Also, Lindsey was a key member of the team that defined prospective stratigraphy hosting the northern deposits of the Hope Bay belt that led to the targeting and substantial expansion of the mineral resources leading to the purchase of Miramar Hope Bay by Newmont.

Lindsey holds a B.Sc. honors degree in geology from the University of British Columbia and a B.Sc. honors degree in biochemistry from Carleton University.

Peter M. Kuhn - Technical Advisor

Peter M. Kuhn is a proactive mining executive recognized for vision and creative problem solving with extensive experience in international projects. He has held senior positions with Thyssen Mining Construction, BLM Mining Services in Sudbury, Bullion River Gold and his own private company. In 2014, he joined WPC Resources and was General Manager of Blue Star Gold Corp. until he was appointed a Technical Advisor. Kuhn holds a Master of Engineering degree from the Technical University of Clausthal, Germany.

Eugene Flood - Technical Advisor

Eugene Flood is a professional geologist with more than 35 years of experience in Canada and internationally. Flood discovered the Flood Zone on the Ulu property in June 1989 for BHP Minerals and found several additional mineralized zones on this property, including the Central Zone, West Limb, East Limb, South Zone, Gnu Zone, Zebra, Apex, and the Northern Fold Nose Zone. Flood has also been involved in all aspects of the Ulu project, including mapping, drilling and calculating the first resource on the Flood Zone and identified the Doris Lake area in North Hope Bay, Nunavut.

As the owner of Flood Consulting, he has provided GIS-based spatial prospectively analysis for such clients as Goldfields, B2 Gold and Goldcorp. Currently, he acts as technical advisor to Aurion Resources in the Central Lapland Greenstone Belt in Finland. In addition to 10 years working in the Slave Structural Province, Eugene has also worked on orogenic gold deposits in Ontario, Sweden, Finland, French Guyana and Brazil.

Flood graduated from Lakehead University with a B.Sc. degree in geology in 1985.

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About Blue Star Gold Corp.

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Highlights of the 2021 Drill Program:

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Blue Star Gold Corp. (TSXV: BAU) (FSE: 5WP0) (OTCQB: BAUFF) ("Blue Star" or the "Company") is pleased to announce the signing of an expanded Hood River Mineral Exploration Agreement (MEA) with Nunavut Tunngavik Inc. (NTI).

Blue Star owns the Ulu Gold Property mining lease that hosts the high-grade Flood Zone gold deposit, and the highly prospective Hood River MEA property that is contiguous to the Ulu mining lease. With the recent expansion of the Roma Project and now the expanded Hood River Project, the Company controls approximately 267 square kilometres of highly prospective and underexplored mineral properties in the High Lake Greenstone Belt (HLGB), Nunavut.

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Blue Star Gold Acquires Roma Mineral Exploration Agreement Consolidating 40 Kilometres of the High Lake Greenstone Belt

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Highlights:

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Blue Star Gold Announces Closing of Non-Brokered Private Placements of Flow-Through and Non-Flow Through Common Shares and Warrant Extension

Blue Star Gold Corp. (TSXV: BAU) (FSE: 5WP0) (OTCQB: BAUFF) ("Blue Star" or the "Company") announces that, further to its news releases of November 4, 2021 and November 17, 2021, and subject to the final approval of the TSX Venture Exchange (the "Exchange"), it has closed the final tranche of its non-brokered private placement (the "FT Private Placement") of flow-through common shares (the "FT Shares") by issuing 296,000 FT Shares at a price of $0.72 per FT Share raising gross proceeds of $193,680.

The Company also announces that, subject to the approval of the Exchange, it has closed its non-brokered private placement (the "Share Private Placement") of common shares (the "Shares") by issuing 735,294 Shares at a price of $0.68 per Share, raising gross proceeds of $500,000.

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Exceptional Drilling Results at Gogbala Ahead of Maiden Resource at Napiè

Exceptional Drilling Results at Gogbala Ahead of Maiden Resource at Napiè

Mako Gold Limited (“Mako” or “the Company”; ASX:MKG) advises that it has received the final assay results from 49 reverse circulation (RC) and diamond drilling (DD) holes from the Gogbala Prospect, within the Company’s flagship Napié Project in Côte d’Ivoire. Gogbala is located on a +23km soil anomaly and coincident 30km-long Napié Fault (Figure 4).

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Kairos Minerals

Wide Drill Intersections Highlight Scope for Significant Resource Upgrade at Mt York Gold Project in Pilbara

Latest drill results extend known mineralisation, paving way for an upgrade of the existing 873,500 oz mineral resource

Kairos Minerals Ltd (ASX: KAI) is pleased to advise that it has received all final 4m-composite sample results from the RC drilling program conducted in 2021 at its 100%-owned Mt York Gold Project located in the Pilbara region of Western Australia. The 2021 RC drilling program at Mt York project comprised 95 drill holes for a total of 14,988m, and it was completed on the 19th of November. A breakdown of the drilling program is shown in Table 1. Previous results of this programme were announced in press releases by Kairos Minerals on 15th September 2021, 23rd November 2021 and 13th January 2022.

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