Blue Star Gold Mobilizes 2022 Exploration Program

Vancouver, British Columbia--(Newsfile Corp. - June 7, 2022) - Blue Star Gold Corp. (TSXV: BAU) (FSE: 5WP0) (OTCQB: BAUFF) ("Blue Star" or the "Company") announces that it has mobilized its summer exploration program. The program will entail a multi-prong exploration effort across its Ulu, Hood River, and Roma projects with two key focuses: infill and expansion drilling, and pipeline target review and development throughout its highly prospective landholdings.

Highlights:

  • Blue Star is the largest title holder in the highly prospective and underexplored High Lake Greenstone Belt in Nunavut, controlling +45 km of the Belt.
  • The Company holds a 100% interest in three projects including the Ulu Gold project, the contiguous Hood River project, and the Roma project.
  • The Ulu project hosts the Flood Zone deposit, where a significant high-grade gold resource has been outlined.
  • Excellent resource expansion potential exists in a number of identified targets over the Company's extensive landholdings.
  • The first ever compilation and systematic desktop review of +100 historical exploration targets was recently completed; abundant discovery potential exists in the pipeline of prospects with drill-ready targets.

Blue Star's CEO, Grant Ewing, commented, "We are excited to launch our 2022 exploration campaign. Several high potential target areas will be assessed during the program as we work to make significant new discoveries throughout our prospective landholdings. The current program will build off the knowledge acquired in prior programs with respect to new mineralisation styles, potential geochemical and structural controls, as well as the systematic compilation of the targets in the historical dataset."

Exploration Program Summary

Blue Star has engaged Precision GeoSurveys Inc. ("Precision") of Langley, BC to undertake a comprehensive high resolution heli-borne geophysical survey utilizing Precision's proprietary four-sensor magnetic gradient system to refine the structure, lithology, and alteration prior to mapping and prospecting programs.

The geophysical program for 2022 is comprised of 1,690-line km at 50 - 100m line spacing over the entire Roma landholdings that were not covered in the 2021 survey, and 1,365-line km at 50 m line spacing over the entire Ulu lease and Hood River concession that was not previously flown in the 2021 survey.

In addition, the recently discovered Gnu zone polymetallic vein that returned 5.34 m of 3.7 g/t gold in drill hole 21BSG020 and 8.15 m of 20.8 g/t gold in drill hole 21BSG007 during the 2021 program will be evaluated further using a magnetics / VLF-EM system. Parallel structures within this 700 m x 150 m target area will also be assessed.

Blue Star has engaged NorthTech Drilling Ltd. ("NorthTech") of Yellowknife, NT to undertake the Company's drilling program focused on resource expansion and priority target evaluation. A balanced program of +3,000 m of infill, follow-up, and initial evaluation drilling is currently scheduled with opportunities to expand through the season.

Blue Star will also be undertaking a regional sampling program using Portable PPB Pty Ltd's detectORE™ patented low-level gold by pXRF technology in addition to traditional mapping and prospecting programs. These programs will focus on developing new targets on the Roma project and further defining high potential historical prospects from the target pipeline compilation on the Hood River concession and Ulu lease.

Blue Star Gold's Projects

The Company's properties are located approximately 525 km NNE of Yellowknife, NT in the Kitikmeot region of western Nunavut. Kugluktuk is approximately 210 km to the NW. The Roma property lies approximately 30 km north of the Ulu-Hood River property. The total area of Blue Star's projects cover +45 km of the highly prospective and underexplored High Lake Greenstone Belt.

The Ulu lease and the contiguous Hood River property together encompass greater than 12,000 hectares of high potential exploration ground. The recent acquisition of the prospective and underexplored Roma property that lies approximately 30 km north increased the Company's landholdings by more than 14,000 hectares in the High Lake Greenstone Belt.

The Ulu lease hosts the advanced stage Flood Zone gold deposit, where a significant high-grade gold resource has been outlined. Several additional gold prospects (including, but not limited to, Zebra, Contact, Central, Axis, and Gnu) are spatially related to the axis of the ~5 km long Ulu Fold, which extends from the Ulu lease onto the northern part of the Hood River property and culminates at the North Fold Nose Zone. The recent expansion of the Hood River concession added several new target zones south of the Flood Zone gold deposit. The eastern side of the Hood River property is contiguous to the Ulu lease, and hosts over twenty known gold showings. The Hood River prospects have the same deformation history (including tight folding) as well as similar mineralization styles (acicular arsenopyrite and polymetallic quartz veins) and stratigraphic sequences as the Flood Zone. One of the most prospective target areas on the eastern Hood River property is the 4 km long Crown-Pro trend which has seen only limited drilling.

The Roma project lies in the northern section of the High Lake Greenstone Belt. The project covers high grade gold showings discovered by previous explorers, notably BHP Minerals from 1988 to 1994. Multiple significant gold showings are present within a 6.5 km x 2.4 km area on the historic Roma claim block. The original showing is a 0.30 to 3.0 m wide quartz vein exposed in outcrop and boulders for 2.0 km. In 1991, BHP drilled ten shallow holes totalling 465 metres to test 1.72 km of the strike of the vein. All drill holes intersected quartz veins from 15 m to 37 m vertically below surface. Visible gold was noted in three of the drillholes and the best results were 12.38 g/t gold over 2.31 m (including 64.0 g/t gold over 0.37 m) from DDH MD-01, and 8.69 g/t gold over 1.87 m from MD-03. No drilling was conducted downdip of the high-grade intersection in DDH MD-01 and no step out drilling to the north from this intercept was conducted. No follow up drilling is known to have been completed on this property since BHP's initial drill program in the 1990's.

The site of the future deep-water port at Grays Bay is 40 - 100 km to the north of the properties, and the proposed route corridor for the all-weather Grays Bay road passes in close proximity to the Roma, Ulu, and Hood River projects.

Technical Disclosure

Drill holes reported from 2021 had core samples cut by core saw with one half of the core retained and the other half sent for analysis. Samples were prepared by ALS Yellowknife-Geochemistry and analyzed at ALS Global, North Vancouver. Gold analysis was by fire assay using ALS code Au-AA26 and multielement analysis by code ME-MS61. Control samples include a crush duplicate every twenty samples; certified reference material was 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 m 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 50% to 95% of drilled lengths. Historical intercepts reported from the Roma project have not yet been verified.

About Precision GeoSurveys Inc.

Based in Langley, B.C., Precision has the expertise and personnel to plan and execute a successful geophysical program. Precision has flown over five hundred surveys around the world since 2007 using innovative geophysical technologies.

About NorthTech Drilling Ltd.

Based in Yellowknife, NT, NorthTech is a family-owned and operated industrial drilling contractor specializing in providing reliable and professional diamond drilling services in the North. NorthTech has completed 150,000 meters of drilling since their inception in 2006.

About Portable PPB Pty Ltd. and detectORE

Portable PPB is a Canning Vale, West Australia based company focused on bringing disruptive technology into the gold industry, globally. They bring a wealth of experience and a track record of delivering novel solutions to drive exploration, discovery, and mining. Blue Star has committed, as a research sponsor, to be an early user in Canada of Portable PPB Pty Ltd's detectORE™ patented low-level gold by pXRF technology. It enables rapid remote on-site gold results to ~20 ppb Au levels daily, instead of weeks to many months for each batch.

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. Blue Stars landholdings total approximately 270 square kilometres of highly prospective and underexplored mineral properties in the High Lake Greenstone Belt, Nunavut. The Company owns the Ulu Gold Property mining lease, an advanced gold project, the highly prospective Hood River Property that is contiguous to the Ulu lease, and the Roma Project. 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, the U.S. OTCQB Venture Market under the symbol: BAUFF, and on the Frankfurt Exchange under the symbol: 5WP0. 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/126444

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