Blue Star Commences Drill Program

10 July 2024

Vancouver, British Columbia--(Newsfile Corp. - July 10, 2024) - Blue Star Gold Corp. (TSXV: BAU) (OTCQB: BAUFF) (FSE: 5WP0) ("Blue Star" or the "Company") announces that it has commenced the drilling component of its active exploration program at the Ulu and Roma Projects in the Kitikmeot region of Nunavut (Figure 1).

Highlights:

  • Two diamond drills have arrived on site and have been mobilized to the first drill targets
  • Ulu Gold Project
    • Target refinement of priority gold drill targets:
      • Final inversions of the Mikigon induced polarization ("IP") data have been received for all pole-dipole lines indicating the coincident magnetics, geochemical and IP anomaly continues under glacial-fluvial cover to the north-northwest of the mapped and sampled target. Mikigon lies ~3.5 km NE of the high-grade Flood Zone deposit
      • Final IP inversion and model received for the Nutaaq Trend indicating known mineralization is associated with edges of chargeability anomalies supporting targeting to the SE and NW of the known Gnu deposit
  • Roma Project
  • Field sampling results:
    • Auma Prospect: 31.7, 30.4 and 20.1 gram per tonne ("g/t") gold ("Au") from historical Zone 3. Zone 1 was extended to over 250 metres in length with samples returning 20.1 g/t Au and 6.22 g/t Au; numerous additional multi-gram samples were returned from unsampled alteration trends including a 7.7 g/t Au sample on a parallel trend to Zone 1
    • Roma Main: sampling of the inferred footwall vein structures to the historically drilled vein (BHP 91MD-01: 12.38 g/t Au over 2.31 metres) returned 40.9 g/t, 15.7 g/t, and 6.5 g/t Au
    • An arsenic-in-till anomaly from 2022 was reviewed discovering arsenopyrite veining over a 320-metre x 170-metre area proximal to a granitoid-metasediment contact with select samples returning assay values in the range of 1.00 to 3.89 g/t Au
    • HI01 drill target returned 17.75% Zinc ("Zn") from local grab samples of sub-cropping massive sulphide
    • Chill D target area returned grab samples grading 1.2% Copper ("Cu"), 1.2% Zn and 1.76 g/t Au; 4.07% Cu, 0.995% Zn, 2.04% Lead ("Pb") and 335 g/t silver ("Ag"); and 2.57% Cu and 41.5 g/t Ag
  • Target refinement progress:
  • At HI01 a near surface conductor over the known massive sulphide exposure and a sub-vertical north plunging strong conductor were identified by a fixed loop electromagnetic survey ("EM"). The target conductor measures ~320-metres x 100-metres. Depth to the top of the modeled plate is 180 metres. This modelled conductor is located down dip and down plunge of historical drilling and known massive sulphide intersections (Figure 2)

"We are having excellent successes from our surface exploration program with positive geophysical results, new showings discovery and further target refinement as we transition to the drill program. The early field work has helped us better refine targets from our growing drill-ready list for 2024 and 2025", commented Darren Lindsay, VP Exploration.

Grant Ewing, CEO of Blue Star stated, "The initial phase of our exploration campaign successfully refined numerous targets that will be drill tested over the coming weeks. Our focus is gold exploration, but high potential critical mineral targets will also be assessed as part of our discovery drill program over our highly prospective landholdings."

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