Blue River Resources Ltd. — Capital/Financing Update 2023

Apr 21, 2023

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BLUE RIVER RESOURCES LTD. ANNOUNCES PRIVATE PLACEMENT OFFERING

Vancouver, BC – January 18, 2023 – Blue River Resources Ltd. (the “Company” or “Blue River”) (TSX Venture: BXR) OTC BRVRF, Frankfurt: 0BL announces a private placement offering of units in the Company at a price of $0.015 per unit to raise gross proceeds of up to $600,000. Each unit is comprised of one common share and one share purchase warrant, whereby each warrant will entitle the holder to purchase one additional common share at an exercise price of $0.05 per share for a period of five years from the closing of the offering. A finder’s fee may be payable with respect to part of the offering. The proceeds from the offering will be used mainly to advance the Castle Copper Project, located approximately 2 km south of Kodiak Copper’s MPD project southern border, as well as filing fees / regulatory fees, legal, audit and accounting fees and for general corporate purposes.

If fully subscribed, the proposed use of proceeds of the private placement will be as follows:

•	Corporate finance fees:	10%
•	Pay existing arms-length accounts payable:	10%
•	Mineral exploration:	30%
•	TSX Venture Exchange sustaining and filing fees and	5%
	Transfer agent fees:
•	Accounting, audit fees and legal fees	15%
•	General working capital	30%

The private placement and any finder’s fees are subject to acceptance for filing by the TSX Venture Exchange. Shares are subject to a four month hold period from the date of issuance.

ON BEHALF OF THE BOARD BLUE RIVER RESOURCES LTD.

Griffin Jones President, Director For further information contact:

Tel: (604) 682-7339 or visit www.Blueriv.com

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.

Except for statements of historic fact, this news release contains certain “forward-looking information” within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may” or “will” occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the Exchange. There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control. There are no assurances that the business plans for the Company as described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management’s estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company’s filings with Canadian securities regulators, which are available at www.sedar.com.