Blue Star Announces Renewal of Loan

• Event: Blue Star Gold Corp. announced an amendment agreement to extend a loan with Dr. Georg Pollert, its director and controlling shareholder.
• Loan Details: Total obligation is $2,729,514.71 (original principal + accrued interest). New maturity date set for October 5, 2028. Interest rate remains at 3% per annum.
• Purpose of Funds: Proceeds are specifically designated to fund a bond deposit required for the Ulu Gold Project Land Use and Water Licenses.
• Regulatory Status: The amendment is subject to final approval by the TSX Venture Exchange.
• Context: This follows a series of related-party share issuances (Oct 2023, Oct 2024) and private placements throughout late 2025, indicating continued reliance on Pollert for liquidity management rather than external institutional capital.

• Liquidity Stability: The extension prevents an immediate maturity event in early 2026, providing critical runway to secure the Ulu project licenses without forcing a distressed equity raise at current market prices ($0.23).
• Project Progression: Securing the bond deposit is a prerequisite for Land Use and Water Licenses on the flagship Ulu Gold Project. Without this financing, development milestones would stall, making this news materially necessary for project advancement.
• Market Sentiment: The stock price dipped from $0.25 to $0.23 following the announcement, suggesting investors may view related-party debt extensions as less favorable than external equity raises or exploration breakthroughs. It signals a lack of immediate access to broader capital markets.
• Incremental Nature: As this is an amendment to an existing loan structure with a known controlling shareholder, it lacks the "newness" required for a Material - Positive rating. It is expected maintenance financing consistent with the company's 2025 funding history.

• Company: Blue Star Gold Corp. (TSX.V: BAU).
• Strategy: Sustainable mineral exploration in Nunavut, focusing on gold and critical minerals within the High Lake Greenstone Belt.
• Flagship Project: Ulu Gold Project. Status includes a mining lease but requires Land Use and Water Licenses for development. Infrastructure includes airstrips, camp, and road network access.
• Secondary Projects:
  • Auma Property: Recently expanded to 11,794 hectares; high-grade gold surface samples ($151.5 g/t Au) identified.
  • Roma Project: Critical mineral focus (Copper-Zinc-Ag); includes Sand Lake prospect and Ataani VMS lens discovery.
• Location: Nunavut, Canada (~525 km NNE of Yellowknife).