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Blue Star Gold Corp. Capital/Financing Update 2024

Apr 23, 2024

46489_rns_2024-04-22_1489bf07-4127-467f-8bb6-5dc06bbecdb3.pdf

Capital/Financing Update

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Blue Star Gold Announces Option Grants

Vancouver, British Columbia--(Newsfile Corp. - April 22, 2024) - Blue Star Gold Corp. (TSXV: BAU) (OTCQB: BAUFF) (FSE: 5WP0) ("Blue Star" or the "Company") announces that it has granted incentive stock options to purchase a total of 2,800,000 common shares at an exercise price of $0.25 per common share for a period of 5 years to certain directors, officers, consultants and employees in accordance with the provisions of its stock option plan.

About Blue Star Gold Corp.

Blue Star is a mineral exploration and development company focused in Nunavut, Canada. Blue Star's landholdings total 270 square kilometres of highly prospective and underexplored mineral properties in the High Lake Greenstone Belt. The Company owns the Ulu Gold Project, comprised of the Ulu Mining Lease and Hood River Property, and the Roma Project. A significant high-grade gold resource exists at the Flood Zone deposit (Ulu Mining Lease), and numerous high-potential exploration target areas occur throughout the Company's extensive landholdings, providing Blue Star with excellent resource growth potential. The site of the future deep-water port at Grays Bay is 40 - 100 km to the north of the properties, and the proposed route corridor for the all-weather Gray's Bay Road passes close by the Roma and Ulu Gold Projects.

Blue Star is listed on the TSX Venture Exchange under the symbol: BAU, the U.S. OTCQB Venture Market under the symbol: BAUFF, and on the Frankfurt Exchange under the symbol: 5WP0. For information on the Company and its projects, please visit our website: www.bluestargold.ca.

For further information, please contact:

Grant Ewing, P. Geo., CEO Telephone: +1 778-379-1433 Email: [email protected]

Raffi Elmajian, Corporate Communications Manager 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.

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