Blue Star launches non-brokered private placement

Vancouver, British Columbia--(Newsfile Corp. - June 22, 2026) - 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 proceeds of up to $950,040 through the issuance of up to 3,654,000 charitable flow-through units (the " Charitable FT Units ") at a price of $0.26 per Charitable FT Unit (the " Private Placement "). Each Charitable FT Unit will consist of one flow-through common share of the Company (a " FT Share ") and one-half of one transferable warrant (each whole warrant, a " Warrant "), with each whole Warrant exercisable at $0.30 per Share for a period of 24 months (the " Expiry Date ") from the closing date of the Private Placement. The FT Shares will qualify as flow-through shares for purposes of the Income Tax Act (Canada).

The Company will renounce said expenditures to the investors for the taxation year ending December 31, 2026. All securities issued will be subject to a four-month and one day hold period pursuant to securities laws in Canada and, where applicable, the Exchange. Finders' fees may be payable to qualified parties.

The Company intends to use the net proceeds from the Private Placement to incur Canadian exploration expenses (the " Qualifying Expenditures ") on its projects in Nunavut prior to December 31, 2026. About Blue Star Gold Corp. Blue Star 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: 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. 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 solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements. NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN To view the source version of this press release, please visit https://www.newsfilecorp.com/release/302321 Newsfile Corp. June 22, 2026 - 5:00 AM PDT News by QuoteMedia www.quotemedia.com