Blue Star Gold Corp. receives 10 year water licence for exploration and reclamation at Ulu

19 May 2020

Blue Star Gold Corp. is pleased to announce that on May 14, 2020 the Nunavut Water Board ("NWB") issued an amended and renewed water licence 2BM-ULU2030 for its Ulu Gold Property located in the Kitikmeot region of Nunavut on Inuit Owned Land ("IOL") administered by the Kitikmeot Inuit Association ("KIA"). The water licence is for a period of 10 years and allows for surface and underground exploration, establishment of a new 60-person camp, and progressive reclamation of legacy infrastructure and contamination. Reclamation security previously posted with and held by the KIA ($750,000) and the Minister of Northern Affairs ($1,685,542) was considered adequate and remains unchanged in the amended and renewed licence.

Blue Star acknowledges and appreciates: the KIA's collaboration throughout the re-licencing process and its provision of technical input into the licence application; the NWB's timely efforts to facilitate the review and licence issuance; the coordinated technical review undertaken by the KIA and Crown-Indigenous Relations and Northern Affairs Canada ("CIRNAC"). Peter Kuhn, Blue Star's Interim Chief Executive Officer, states: "The collaboration between all involved, the prompt and detailed responses and the urgency to accomplish the Ulu water licence renewal and amendment together was outstanding. Blue Star will make every effort to undertake the remediation on a priority basis in a timely and careful manner. We look forward to continued work together for the mutual benefit of Nunavummiut and Blue Star.