Blue Star Announces Closing of Non-Brokered Private Placement

Blue Star Gold Corp. (BAU) closed a non-brokered private placement on July 17, 2026, raising gross proceeds of $947,631.62. The company issued 3,644,737 charitable flow-through units at $0.26 per unit. Each unit consists of one flow-through common share and one-half of a transferable warrant exercisable at $0.30 per share for 24 months.

Net proceeds are designated for Canadian exploration expenses on Nunavut projects prior to December 31, 2026. Finder's fees of $30,000 cash and 157,894 non-transferable warrants were paid. Securities are subject to a four-month-and-one-day hold period expiring November 18, 2026.

Blue Star Gold Corp. (BAU) announced the administrative closing of the financing originally declared on June 22, 2026. The capital raise secures working capital to fund a planned approximately 8,000-metre drill program and ongoing exploration activities at the Ulu, Roma, and Auma projects.

The transaction results in a moderate dilutive impact, representing a 2.3% increase in share count, which aligns with the company's historical financing patterns. The release does not disclose any new strategic partnerships, material resource updates, or infrastructure breakthroughs.

Blue Star Gold Corp. (BAU) is an exploration-stage company focused on gold and critical minerals in Nunavut, Canada. The firm controls over 420 square kilometres in the High Lake Greenstone Belt. Its portfolio includes the flagship Ulu Gold Project, which hosts the high-grade Flood Zone Deposit, as well as the Roma Project, which focuses on critical minerals and VMS deposits, and the Auma Project, which is focused on gold.

An updated Mineral Resource Estimate released in May 2026 reported 558,000 ounces of Measured & Indicated resources at 7.87 g/t Au, and 476,000 ounces of Inferred resources at 4.54 g/t Au. Metallurgical studies indicate potential gold recoveries exceeding 90%.