Blue Star Acquires Historical Dataset and Confirms Cu-Rich VMS Mineralization at Sand Lake Prospect

• Blue Star Gold Corp. acquired a substantial historical dataset for the Sand Lake Prospect within the Roma Project in Nunavut on April 21, 2026.
• The dataset includes ground EM surveys (UTEM/PROTEM), borehole EM data from 17 drill holes, and geological data from 29 historical drill holes completed between 2003 and 2008.
• Preliminary internal assessments suggest a conceptual exploration target of 3 to 5 million tonnes at 2.3% to 3.6% copper equivalent (CuEq).
• Historical drilling highlights include 21 metres at 2.71% copper and 6.3 metres at 5.28% copper.
• Mineralization includes copper, zinc, and precious metals with a mineralized horizon extending approximately 530 metres along strike.
• Current activity involves 3D plate modelling of historical EM conductors to refine targets for potential follow-up drilling.
• This follows the November 2025 announcement where the company acquired the land tenure for Sand Lake, confirming the progression from land acquisition to data evaluation.

• The news is incremental progress rather than a fundamental shift in valuation; it validates the strategic decision made in November 2025 to acquire the Sand Lake ground.
• While copper targets are attractive given current market demand for critical minerals, the target remains "conceptual" based on historical data (2003-2008) rather than new drilling results or a NI 43-101 resource estimate.
• The loan renewal announced April 14, 2026 ($2.7M extended to Oct 2028 at 3% interest) mitigates immediate liquidity risk, supporting the exploration spend required to test this new copper target.
• Compared to previous "Material - Positive" ratings (e.g., Auma Property expansion in Feb 2026), this is less impactful as it does not involve new land acquisition or high-grade drill intercepts but rather data reprocessing.
• The market likely priced in the potential for Sand Lake exploration upon the November 2025 land announcement; therefore, the dataset confirmation is expected and routine.

• Blue Star Gold Corp. controls approximately 44 km (16,645 ha) of land in the High Lake Gold Belt (HLGB), Nunavut.
• Flagship Projects:
  • Ulu Gold Project: Focus on high-grade gold deposits including Flood Zone, Nutaaq, and Axis targets.
  • Roma Project: Includes critical mineral VMS targets (Ataani, Sand Lake) and gold prospects (Auma).
  • Avalliq Property: Newly acquired ground with high-grade gold showings (Silver Bullet, MOV).
• Strategy focuses on sustainable exploration in Nunavut with community engagement and use of local Inuit labour.