Blue Star Gold Announces Phase 2 Exploration Drilling Results at Auma Project - Bamako Prospect Returns 1.9 m of 16.74 g/t Au and 2.0 m of 10.6 g/t Au

Blue Star Gold Corp. (BAU) announced initial assay results from the first five drill holes at the Bamako prospect within its Auma Project in Nunavut. This marks the first modern diamond drilling campaign at Auma, with the reported holes totaling approximately 1,092 meters of a planned 2,400-meter program.

The company reported the following key downhole intervals:

• 26ABD003: 8.0 m @ 2.65 g/t Au from 22.9 m, including 3.4 m @ 3.33 g/t Au; 2.0 m @ 9.44 g/t Au; 3.1 m @ 1.68 g/t Au; 1.9 m @ 16.74 g/t Au.
• 26ABD005: 2.0 m @ 10.60 g/t Au, including 0.5 m @ 39.1 g/t Au; 2.1 m @ 3.47 g/t Au, including 0.3 m @ 16.4 g/t Au; plus several smaller intervals.
• 26ABD001: 1.0 m @ 5.20 g/t Au; 5.4 m @ 0.73 g/t Au; 2.4 m @ 2.76 g/t Au.
• 26ABD002: five mostly narrow intervals; best 0.4 m @ 2.35 g/t Au and 1.9 m @ 1.22 g/t Au.
• 26ABD004: 0.2 m @ 4.52 g/t Au; 0.3 m @ 1.02 g/t Au; 0.8 m @ 2.39 g/t Au.

Blue Star stated that gold mineralization is confirmed over 300 meters of drill-tested strike at shallow depths and remains open.

Blue Star Gold Corp. (BAU) has not yet updated its Ulu resource base or company net asset value. The Auma discovery lies outside the existing Ulu resource and currently holds no mineral resource estimate, economic study, or defined recoverable ounces. While the company reports 558 koz Measured and Indicated and 476 koz Inferred resources at Ulu, Auma remains a grassroots target.

With a market capitalization near $37 million, $2.34 million in cash, negative operating cash flow, and a going-concern warning, the release serves as useful news flow rather than a valuation event. The share price has not risen aggressively in response to the specific Auma drill result.

Blue Star Gold Corp. (BAU) is a junior explorer focused on Nunavut's High Lake Greenstone Belt. The company’s Ulu Gold Project features the Flood Zone gold deposit, which holds measured and indicated resources of 2.204 million tonnes at 7.87 grams per tonne of gold for 558,000 ounces, and inferred resources of 3.263 million tonnes at 4.54 grams per tonne of gold for 476,000 ounces. The site includes existing infrastructure such as a camp, airstrip, roads, and an underground decline.

The Roma Project contains VMS and critical minerals targets, with historical Sand Lake intercepts including 21 meters at 2.71% copper and 15 meters at 3.29% copper. The Auma Project has been expanded to 11,794 hectares and hosts the Bamako orogenic gold target and the Penny Lane copper-gold target.

Regarding infrastructure, the company is located in a remote part of Nunavut but is in proximity to the proposed Grays Bay Road and Port Project. Financially, Blue Star Gold generates no revenue. The company reported a first-half 2026 net loss of $2.84 million, with cash holdings of $2.34 million. A going-concern warning was included in the MD&A.