Blue Star Announces $2M Non-Brokered Private Placement
Blue Star Announces $2M Non-Brokered
Private Placement
Vancouver, British Columbia--(Newsfile Corp. - May 25, 2026) -
Blue Star Gold Corp. (TSXV: BAU)
(OTCQB: BAUFF) (FSE: 5WP0) ("Blue Star" or the "Company")
announces that, subject to the
approval of the TSX Venture Exchange (the "
Exchange
"), it intends to complete a non-brokered private
placement to raise proceeds of up to $2,000,000 through the issuance of up to 7,692,307 flow-through
shares (each, a "
FT Share
") at $0.26 per FT Share ( the "
Private Placement
").
Each FT Share qualifies as a "flow-through share" (within the meaning of subsection 66(15) of the
Income Tax Act (Canada).
The proceeds from the Private Placement will be used by the Company to incur eligible "Canadian
exploration expenses" that qualify as "flow-through mining expenditures" (as both terms are defined in
the Income Tax Act (Canada)) (the "
Qualifying Expenditures
") related to the Company's projects in
Nunavut.
The Company will renounce Qualifying Expenditures with an effective date of no later than December 31,
2027, in an amount of not less than the total amount of the gross proceeds raised from the issuance of
the FT Shares and incur such expenses by December 31, 2027.
All securities issued will be subject to a four-month and one day hold period pursuant to securities laws
in Canada and, where applicable, the Exchange Hold Period.
Finders' fees may be payable to qualified
parties.
About Blue Star Gold Corp.
Blue Star Gold Corp. is a mineral exploration and development company focused on Nunavut, Canada.
The Company controls over 420 square kilometres of highly prospective and underexplored mineral
properties in the High Lake Greenstone Belt. Its principal assets include the Ulu Gold Project -
comprised of the Ulu Mining Lease and Hood River Property, and the Roma and Auma Projects. The Ulu
Mining Lease hosts the high-grade Flood Zone Gold Deposit, and the Company's broader land package
contains numerous high-priority gold and critical mineral targets, providing substantial upside potential
for resource expansion.
Blue Star's projects are strategically located 40-100 km south of the proposed Grays Bay deep-water
port, with the planned all-weather Grays Bay Road corridor passing close to the Company's Projects.
The Grays Bay Road and Port Project was recently referred to the Major Projects Office by Prime
Minister Carney. The Major Projects Office was created to fast-track infrastructure projects that are
deemed to be of national importance.
Blue Star is listed on the TSX Venture Exchange (BAU), the OTCQB Venture Market (BAUFF), and the
Frankfurt Exchange (5WP0). Additional information is available at
www.bluestargold.ca
.
For further information, please contact:
Grant Ewing, P. Geo., CEO
Telephone: +1 778-379-1433
Email:
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the
Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
Release.
The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act
of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons
absent U.S. registration or an applicable exemption from the U.S. registration requirements.
This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities.
Any public offering of securities in the United States must be made by means of a prospectus containing detailed information
about the company and management, as well as financial statements.
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT
CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN
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https://www.newsfilecorp.com/release/298791