Dr. Georg Pollert reports

DR. GEORG JOSEF POLLERT ANNOUNCES AN INCREASE IN HIS OWNERSHIP OF THE COMMON SHARES OF BLUE STAR GOLD CORP.

Dr. Georg Josef Pollert (the acquiror), a director of Blue Star Gold Corp., together with his wife, Gabriele Pollert, on Oct. 17, 2023, acquired ownership of a total of 6,255,619 common shares at a price of 38 cents per share for a total purchase price of $2,377,135.22 pursuant to a private transaction.

Prior to the acquisition of shares pursuant to the share purchase, the acquiror, together with his wife, Ms. Pollert, held 46,594,961 shares, 350,000 stock options and 4,375,000 warrants and the acquiror's and Ms. Pollert's combined non-diluted shareholdings represented approximately 64.45 per cent (46,594,961/72,291,101) of the company's issued and outstanding shares.

As a result of the acquisition of shares pursuant to the share purchase, the acquiror and Ms. Pollert now together hold 52,850,580 shares, 350,000 options and 4,375,000 warrants and the acquiror's and Ms. Pollert's combined non-diluted shareholdings now represent approximately 73.11 per cent (52,850,580/72,291,101) of the company's issued and outstanding shares. Thus, on a partially diluted basis (that is, assuming full exercise of all warrants and options), the acquiror and Ms. Pollert would together hold a total of 57,575,580 shares, representing approximately 74.76 per cent (57,575,580/77,016,101) of the company's issued and outstanding shares.

The shares were acquired for investment purposes. The acquiror and Ms. Pollert may, depending on market and other conditions, increase or decrease their beneficial ownership of or control or direction over the company's securities, whether in the open market, by privately negotiated agreements or otherwise, subject to a number of factors, including general market conditions and other available investment and business opportunities. To obtain a copy of the early warning report filed by the acquiror, please contact the acquiror at 011-49-172-946-1380 or refer to the company's SEDAR+ profile.