Mr. Grant Ewing reports

BLUE STAR'S AIRBORNE GEOPHYSICAL PROGRAM HIGHLIGHTS COMPELLING CRITICAL MINERAL TARGETS

Blue Star Gold Corp. has acquired new high-resolution SkyTEM airborne electromagnetic (AEM) and magnetic survey data, which has highlighted several compelling critical mineral targets on its Roma project located in the West Kitikmeot region, Nunavut.

The Roma project covers portions of the High Lake volcanic belt, an Archean-aged greenstone belt endowed with copper-, zinc- and gold-rich volcanogenic massive sulphide (VMS) deposits. Blue Star's current focus area is situated immediately adjacent to the High Lake mining leases, and the new SkyTEM data set has identified several discrete AEM anomalies within three kilometres of the existing High Lake deposit. The High Lake deposit consists of three separate mineralized zones that combined represent an indicated resource of 7.9 Mt (million tonnes) grading 3 per cent Cu (copper), 3.5 per cent Zn (zinc), 0.32 per cent Pb (lead), 83 grams per tonne (g/t) Ag (silver) and 1.3 g/t Au (gold), and an inferred resource of six Mt grading 1.8 per cent Cu, 4.3 per cent Zn, 0.41 per cent Pb, 84 g/t Ag and 1.3 g/t Au.

Survey highlights

• A total of 2,450 hectares (242.6 kilometres) of data were collected using the deep seeing SkyTEM 306HP system across two key properties -- the Roma MEA and Auma target areas;
• Multiple AEM anomalies were defined within three km of the High Lake deposit's West zone massive sulphide lens;
• The AEM anomalies coincide with areas of known VMS-style surface mineralization and hydrothermal alteration, including pronounced sodium depletion;
• At the Auma gold target, the survey confirmed the geophysical expression of known mineralized trends and outlined additional conductive and magnetic targets extending 1.4 kilometres along strike.

"The new SkyTEM data has refined our understanding of the geology at both the Roma critical mineral targets and Auma gold targets," said Grant Ewing, chief executive officer of Blue Star Gold. "The conductivity and magnetic responses define several new targets consistent with VMS-style mineralization near the High Lake deposit, as well as extensions of gold mineralization trends at Auma. These results support our ongoing efforts to advance both critical mineral and gold discoveries across our highly prospective Nunavut projects."

Roma critical metal project details: AEM anomalies near historic mineralization

The Roma project SkyTEM data have delineated a series of discrete electromagnetic (EM) anomalies within favourable volcanic stratigraphy. These anomalies are spatially coincident with known sulphide mineral showings and are interpreted as potential extensions or repetitions of the High Lake mineralized horizon. The three highest-priority targets include the Stu, West West and South zones, with a fourth, moderate priority zone at Cairo also warranting follow-up. No known drill holes have tested the newly delineated anomalies.

At the Stu prospect, the SkyTEM survey detected a moderate to strong conductive response partially coincident with a moderate magnetic feature. Historical work at the Stu prospect has outlined a broad alteration zone measuring approximately 200 by 300 metres, with intense silicification, sodium depletion and abundant dalmatianite. Historical grab samples returned grades of 5.96 per cent and 4.76 per cent Cu (AR030105).

The West West prospect, located less than two kilometres west of the High Lake deposit west zone, exhibits a moderate conductive response with a limited magnetic signature. The area has an extensive surface gossan with assays of 1.64 per cent Cu and 1.10 g/t Au (AR030105, AR082986).

The South prospect is defined by a strong, late-time electromagnetic anomaly that is coincident with a magnetic anomaly. This target is located roughly four kilometres south of the High Lake deposit D zone, along the same stratigraphic horizon, where abundant surface gossan occurs, with massive pyrite lenses mapped at the surface (AR082986).

The Cairo area has the most promising surface mineralization. Historical rock samples have returned assays of up to 9.99 per cent Cu (AR030105), and recent 2025 grab samples have yielded 7.78 per cent Cu and 4.20 per cent Cu (news release dated Sept. 10, 2025). The known stringer style mineralization is hosted within altered volcanic rocks, characteristic of a VMS system feeder zone. The SkyTEM survey data shows a weak conductive and magnetic response at Cario.

Readers are cautioned that the company has no interest in or right to acquire any interest in adjacent properties and they are not indicative of mineral deposits on the company's properties or any potential exploration thereof.

Auma gold property: geophysical correlation with known mineralization

At the Auma property, the SkyTEM data confirmed the geophysical signature associated with the known mineralized trends. In the main discovery area, high-grade gold mineralization is spatially coincident with both magnetic and conductive anomalies. Recent 2025 surface grab samples from the main showing graded 151.5 and 125.5 g/t Au, and samples collected 1.4 kilometres south of the main showing returned assays of 35.5 g/t Au (news release dated Sept. 10, 2025) and occur in a zone displaying similar geophysical characteristics to the known mineralization. The strong correlation between the geophysical and geochemical results suggests potential for a significant increase in the strike extent of the mineralization.

Next steps

Interpretation of the SkyTEM data is continuing and will include detailed Maxwell 3-D plate modelling of the most significant conductors to better define their geometry and depth. Priority targets identified through modelling will be evaluated with a follow-up fixed loop ground EM survey to refine anomaly locations. This ground EM program is planned during the 2026 spring season to utilize lake ice for full coverage. The 2026 spring fixed loop survey program will also include work on the Ataani massive sulphide lens, Blue Star's 2024 critical mineral discovery (news releases dated Sept. 5 and Sept. 24, 2024). A geological mapping, prospecting and sampling program focusing on the highest priority geophysical trends is planned during the summer of 2026.

Results from both the geophysical and geological programs will be utilized to design an extensive drill program to test the most promising targets.

About the SkyTEM survey

The SkyTEM survey was undertaken in the summer of 2025. Survey lines were 100 metres apart with tie lines every 1,000 metres. Survey height for the EM coil and magnetics bird was approximately 35 to 45 metres above ground level. SkyTEM is a global leader in the field of airborne geophysics, delivering state-of-the-art electromagnetic and magnetic survey solutions. Their expertise lies in offering high-resolution subsurface data that supports a variety of applications, including mineral exploration.

Qualified person

Darren Lindsay, PGeo, and vice-president of exploration for Blue Star, is a qualified person under National Instrument 43-101, and has reviewed and approved the technical information contained in this news release.

Grays Bay Road and Port project (Arctic security corridor)

West Kitikmeot Resources Corp. is the proponent for the Grays Bay Road and Port project. The project envisions a deepwater port built on the Coronation Gulf and a road connecting Nunavut to the Northwest Territories. The proposed all-season road would travel within and immediately adjacent to Blue Star's projects, providing excellent accessibility. This future access will dramatically lower the cost of doing business in the region, connecting Northern products to markets around the world, and enabling supplies to reach the area at a lower cost, for a longer season and with greater reliability.

About Blue Star Gold Corp.

Blue Star is a mineral exploration and development company focused in Nunavut, Canada. Blue Star's landholdings total 300 square kilometres of highly prospective and underexplored mineral properties in the High Lake greenstone belt. The company owns the Ulu gold project, comprising 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 targets (gold and critical minerals) occur throughout the company's extensive landholdings, providing Blue Star with excellent resource growth potential. The site of the future deepwater port at Grays Bay is 40 to 100 kilometres to the north of the properties, and the proposed route corridor for the all-weather Grays Bay Road passes close by the Roma and Ulu gold projects.

Blue Star is listed on the TSX Venture Exchange under the symbol: BAU, the United States OTCQB Venture Market under the symbol: BAUFF, and on the Frankfurt exchange under the symbol: 5WP0.

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