Blue Star Announces Non-Brokered Private Placement and Proposed Debt Settlement

Blue Star Gold Corp. (TSXV: BAU) (OTCQB: BAUFF) (FSE: 5WP0) ("Blue Star" or the "Company") announces that, subject to the approval of the TSX Venture Exchange (the " Exchange "), it intends to complete a non-brokered private placement to raise gross proceeds of up to $800,000 through the issuance of up to 4,000,000 common shares (each, a " Share ") at $0.20 per Share (the " Private Placement "). The Company intends to use the proceeds from the Private Placement for general working capital. No finder's fees will be paid in connection with the Private Placement. The Company also announces that, subject to the approval of the Exchange, it intends to complete debt settlements through the issuance of an aggregate of 638,993 Shares at a deemed price of $0.20 per Share to settle debts owing pursuant to past director services provided to the Company and for unpaid finder's fees owing to an arm's length party for a total amount of $127,798.66 (excluding goods and services tax) (the " Debt Settlements "). Dr. Georg Pollert, a director and controlling shareholder of the Company, is participating in the Private Placement and the Debt Settlements. As a result, the issuance of these Shares pursuant to the Private Placement and the Debt Settlements is considered a related party transaction (as defined under Multilateral Instrument 61-101 P rotection of Minority Security Holders in Special Transactions (" MI 61-101 ")). The Company relied upon the exemptions from the formal valuation and minority shareholder approval requirements set out in sections 5.5(a) and 5.7(1)(a) Fair Market Value not More than 25% of Market Capitalization , of MI 61-101, respectively. The Shares issued pursuant to the Private Placement and Debt Settlement will be subject to a four-month and one day hold period pursuant to securities laws in Canada and, where applicable, the Exchange Hold Period. About Blue Star Gold Corp. Blue Star Gold Corp. 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 resource expansion. 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 close to the Company's Projects. The Grays Bay Road and Port Project was recently referred to the Major Projects Office by Prime Minister Carney. The Major Projects Office was created to fast-track infrastructure projects that are deemed to be of national importance. 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: [email protected] 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. The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements. This news release does not constitute an offer for sale of securities for sale, nor a solicita...