Blue Star Gold Corp. update on its active exploration program at the Ulu and Roma Projects in the Kitikmeot region of Nunavut. The 2024 exploration program is well underway utilizing mapping, prospecting, and geological and geophysical surveys to refine and prioritize drill ready targets.

Additional targets from extensive pipeline of prospects are also being advanced to the drill ready stage. The team will continue mapping, prospecting, lithogeochemical stratigraphic surveys, induced polarisation surveys, fixed-loop electromagnetic surveys ("EM") and walking time-domain electromagnetic surveys prior to mobilizing the drills next month. Two drills will be deployed during July 2024, with a minimum of ~4,000 metres of drilling planned, and the option to expand the program.

Numerous targets will be drill tested during the program, including: Discovery focused drilling on key high potential targets (i.e. Mikigon) Evaluation of mineralised structures within the Nutaaq Zone corridor (host to Gnu deposit) to expand resources Select infill and expansion drilling of known resources (Flood Zone area). The Mikigon target, a Blue Star discovery from the 2023 mapping program, occurs within an anticlinal package of greywacke. Surface samples range from detection limit to 47.1 grams/tonne gold ("g/t Au").

The target is a structurally controlled quartz-arsenopyrite vein /silicified arsenopyrite bearing corridor traced for 500 metres in outcrop. The structure has a coincident elevated magnetic signature approximately 1,000 metres in length. Mikigon has now been surveyed using pole-dipole induced polarisation with 150-metre line spacing and 25 metre station spacing.

The IP survey has traced the weak resistivity/moderate chargeability signature of the target for 1,500 metres, and the trend remains open in both directions. The northern ~500 metres of this anomaly is under cover of glacio-lacustrine sediments. A line in the core portion of the trend was extended westward to evaluate a parallel elevated magnetic signature resulting in a potential second target exhibiting the same IP signature as the main target trend.

Next steps for Mikigon include completing the remaining inversions, evaluating a walking time-domain electromagnetic survey system ("Loupe") over the target to determine if this relatively rapid geophysical survey can be deployed to evaluate similar targets as they develop. Drill evaluation of Mikigon using oriented drill core will commence within 30-days. This is a top target for Blue Star, moving rapidly from initial discovery to drilling.