Blue Star Gold Announces Option Grants

NR 2020-16 ●, 2020

TSX-V: BAU

Frankfurt: 5WP

Blue Star Gold Announces Option Grants

Vancouver British Columbia – August 10, 2020: Blue Star Gold Corp. (the “Company”) announces

that it has granted incentive stock options to purchase a total of 600,000 common shares at an exercise price

of $0.125 per share expiring October 17, 2024 to certain directors in accordance with the provisions of its

stock option plan.

About Blue Star Gold Corp.

Blue Star is a Vancouver-based gold and silver company focused on exploration and development within

Nunavut, Canada. The Company, through its su bsidiary, Inukshuk Exploration Inc. (“Inukshuk”), owns

the highly prospective 8,015 ha Hood River gold concessions located contiguous with the Ulu mining lease.

Inukshuk acquired its interest in the Hood River property through a renewable, 20-year Mineral Exploration

Agreement with Nunavut Tunngavik Incorporated (“ NTI”) which holds subsurface title to Inuit Owned

Lands (“IOL”). The Hood River property located within the CO-20 IOL parcel is administered by the NTI

through the HOODRIVER-001 MEA signed betwe en Inukshuk and NTI dated June 01, 2013. Blue Star

has recently acquired the Ulu Gold Property, an advanced gold and silver project and with regulatory

approvals has completed the transmittal of the mining lease and assignment of the permits and licenses.

Together with the Hood River concessions, Blue Star controls nearly 10,000 ha of prospective mineral

claims within which the Company has identified more than 40 gold occurrences.

Blue Star has 143,245,846 common shares outstanding and is listed on the TSX Venture Exchange under

the symbol: BAU and on the Frankfurt Exchange under the symbol: 5WP. For information on the Company

and its projects, please visit our website: www.bluestargold.ca .

For further information, please contact:

Peter Kuhn, Interim CEO

Telephone: 604.347.6999

Email: [email protected]

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.

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Vancouver, BC V6C 2T5

CANADA

Tel: +1.778.379.1433

Fax: +1.778.379.1434