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Blue Star Gold Announces Option Grants

Share Capital & Compensation

Blue Star Gold Announces Option Grants

Vancouver, British Columbia--(Newsfile Corp. - May 2, 2023) -

Blue Star Gold Corp. (TSXV: BAU)

(OTCQB: BAUFF) (FSE: 5WP0)

("Blue Star" or the "Company")

announces that it has granted

incentive stock options to purchase a total of 2,650,000 common shares at an exercise price of $0.43

per common share for a period of 5 years to certain directors, officers, consultants and employees in

accordance with the provisions of its stock option plan.

About Blue Star Gold Corp.

Blue Star is a gold company focused on exploration and development within Nunavut, Canada. Blue

Stars landholdings total 270 square kilometres of highly prospective and underexplored mineral

properties in the High Lake Greenstone Belt, Nunavut. The Company owns the Ulu Gold Project,

comprised of the

Ulu Mining Lease

and

Hood River Property

, and the Roma Project. A significant high-

grade gold resource exists at the Flood Zone deposit (

Ulu Mining Lease

), and numerous high potential

exploration target areas occur throughout the Company's extensive landholdings, providing Blue Star

with excellent resource growth potential.

Blue Star is listed on the TSX Venture Exchange under the symbol: BAU, the U.S. OTCQB Venture

Market under the symbol: BAUFF, and on the Frankfurt Exchange under the symbol: 5WP0.

For

information on the Company and its projects, please visit our website:

www.bluestargold.ca

.

For further information, please contact:

Grant Ewing, P. Geo., CEO

Telephone: +1 778-379-1433

Email:

[email protected]

Raffi Elmajian, Corporate Communications Manager

Telephone: +1 778-379-1433

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.

To view the source version of this press release, please visit

https://www.newsfilecorp.com/release/164615