Mr. Geordie Mark reports

BLUE JAY GOLD REPORTS 67% ANTIMONY CONCENTRATE AT 94% RECOVERY FROM BECKER-COCHRAN: CONCENTRATES SUBMITTED FOR METAL REFINING TESTS

Blue Jay Gold Corp. today released results from the metallurgical test program on mineralization from the Becker-Cochran antimony occurrence at its Steller gold project in Southern Yukon. The company's maiden testwork at ALS Metallurgical Laboratories in Kamloops, B.C., delivered a flowsheet design producing a 67-per-cent antimony (Sb) concentrate at a 94-per-cent recovery. Roughly 50 kilograms of the concentrate is now being converted into finished antimony products by three North American processing groups who are looking to secure access to long-term supply, with first products expected in the coming weeks. The company's test does not end at the concentrate. It continues until the material exists as a finished antimony product.

The material was placed with three groups rather than one by design. Each uses different processing approaches as high-grade concentrate is compatible with more than one downstream route. The company's approach affords Blue Jay the pathway best suited to its material and its interests.

Highlights

• Sixty-seven-per-cent antimony concentrate was produced at a 94-per-cent Sb recovery.
• Concentrate grade well exceeds the 60 per cent Sb premium product threshold. Pure stibnite is approximately 71.7 per cent antimony, so 67 per cent Sb approaches mineralogical purity.
• Three North American antimony processing groups will convert the concentrate into a range of downstream metal products, each using different processing approaches. First results are expected in the coming weeks.
• Testwork was performed on material the company collected and submitted, under documented chain of custody, and modern quality assurance and quality controls.
• Material will move from site to finished metal product within a single exploration season.
• Drilling continues on high-grade gold targets with results expected to continue into 2027

"When we ran our due diligence after acquiring the project, the antimony prospect was sitting in the historical record in plain sight, and nobody had touched it for sixty years," said Geordie Mark, chief executive officer of Blue Jay Gold. "Modern conventional processing comfortably outperformed what was achieved in the 1960s, but a flotation number is where most companies at our stage stop and then ask investors to imagine the rest. We are not doing that. The concentrate is now with three North American processing groups who will convert it into a range of finished antimony products, and we expect the first of those within weeks. That means this material will have gone from rock in the ground to finished metal inside a single exploration season. Linking the mine site to metal production is where value is created in critical minerals, and we saw no reason to wait years to find out whether this material can make that trip.

"What we learn about the antimony also tells us something about the project as a whole. One land package holds a past-producing gold mine, two further gold-silver deposits in different styles and now produces a premium-grade antimony concentrate from a separate mineralized field whose footprint extends kilometres to the east. Those are different metals, deposited in different parts of the same system. To be clear, gold and silver are where our rigs and our budget are focused, and that has not changed by a single metre of drilling. But this is our maiden exploration year, and the point of a maiden year is to find out what you actually own. The antimony work was a small part of this year's budget, and it has told us a great deal. It is another piece of evidence that Steller is a geological district rather than a single deposit."

Next steps at Becker-Cochrane

First antimony metal products from the three processing groups are expected in the coming weeks. Assays remain pending from the 10-hole drill program at Becker-Cochran announced on Aug. 31, 2026, which is testing the down-dip continuation of the mineralized shear zone below the historical workings. Should drilling confirm continuity at depth, the company intends to advance to variability and locked cycle test work on drill core composites.

What was tested

The program was carried out on a composite of greater than 400 kilograms of stibnite-bearing mineralization collected by company personnel at a single trench at Becker-Cochran. The test sequence comprised head assays, mineralogical characterization, grind establishment, rougher and cleaner flotation, and final concentrate characterization.

The sample was collected from the surface expression of the stibnite-rich quartz vein systems that host mineralization in the underground workings at depth. These veins represent one on several east-west-trending veins sets that occur on Becker, forming a trend extending west past the Goddell Gully Au deposit. Consequently, the company's work reflects only a small fraction of the system.

Reading the result

Concentrate grade and recovery are most meaningful together, and in context with the flowsheet that produced them. Recovery measures how much of the antimony in the rock reports to the product. At 93.9 per cent, almost none was lost to the tailings. Grade measures the quality of that product and determines what a processor will pay for it. Premium product specifications generally begin at 60 per cent Sb, with value adjusted for other elements present and for processing factors. At 66.9 per cent Sb, against a maximum possible 71.7 per cent for pure stibnite, the concentrate is close to a pure mineral product. The flowsheet that produced it is conventional and uses standard reagents. Work at this stage does not constitute an offtake arrangement or any type of commercial negotiation.

Why the historical work needed to be revisited

Bulk sampling and flotation testing were carried out on this occurrence in 1965. An approximately eight-ton sample was split between the federal mineral processing division in Ottawa and Britton Laboratories Ltd. in Vancouver. The Ottawa work reported recovery of 92.8 per cent of the contained antimony, and concentrates exceeding 62 per cent antimony were produced. Underground development stopped shortly afterward when the antimony price fell.

Those results are historical in nature. They were produced 60 years ago, to procedures and quality controls that cannot be verified today, on material the company did not collect. A qualified person has not done sufficient work to verify them, the company is not treating them as current and they should not be relied upon. They were, however, sufficient reason to test the material again to a modern standard.

A district, not a single deposit

The Steller gold project covers approximately 170 square kilometres and is accessible year-round by an 84-kilometre road from Whitehorse. It hosts the past-producing Mt. Skukum gold mine, the Skukum Creek and Goddell Gully gold-silver deposits, a 270-tonne-per-day process plant, and kilometres of underground development. Becker-Cochran lies within an antimony anomaly approximately eight kilometres wide on the eastern side of the property.

The gold, silver and antimony mineralization across the property is interpreted to have formed during the same period of Eocene magmatic-epithermal activity, at different levels and temperatures within one extensive system. That interpretation is the basis for the company's view that Steller can host several deposits of different styles carrying different metals. Antimony mineralization at Becker-Cochran forms no part of the current mineral resource estimate, and the company's 2026 program remains directed at the gold and silver resources at Skukum Creek and Mt. Skukum.

Metallurgical testwork and antimony concentrate results

Bench-scale flotation tests were completed at ALS Metallurgy Kamloops with the greater than 400 kg sample provided from the Becker-Cochran antimony occurrence located in the Yukon Territory, Canada. The material was selected from an east-southeast-trending stibnite-bearing quartz vein that is interpreted to reflect the vein exposed in underground workings accessed from multiple adits immediate below.

With a primary grind sizing near 140 micrometres K80 and using lead nitrate as the stibnite activator and SIPX as the stibnite collector, excellent metallurgical performance was achieved with 95-per-cent antimony recovery to a stibnite concentrate which measured close to 66 per cent antimony using rougher flotation followed by regrinding and two cleaner stages. This led to a final stage antimony concentrate grading 66.9 per cent Sb. Antimony recovery to the final cleaner concentrate was 93.9 per cent. These results are based on laboratory-scale rougher-cleaner testing and are preliminary in nature; they do not represent a feasibility-level process design or a commercial product specification.

Quality assurance/quality control

The bulk sample used in this program were selected and prepared under the supervision of Freeman Smith. The ALS laboratory maintained its own internal QA/QC procedures to deliver these initial outcomes. QA/QC results were reviewed by Freeman Smith, and no material issues were identified that would affect the interpretation of the reported results.

Qualified person

The scientific and technical content of this news release has been reviewed and approved by Freeman Smith, PGeo, vice-president, exploration, of Blue Jay Gold, who is a qualified person as defined by National Instrument 43-101 -- Standards of Disclosure for Mineral Projects.

About Blue Jay Gold Corp.

Blue Jay Gold is a Canadian gold exploration company focused on growing and discovering resources within established gold producing regions in Canada. The company's flagship asset is the 100-per-cent-owned Steller gold project in Southern Yukon, an infrastructure-supported, past-producing mine with significant exploration upside and clear near-term catalysts. Blue Jay has also built a portfolio of projects in Ontario. With strategically located assets and a leadership team experienced in geology and capital markets, Blue Jay will advance disciplined, modern exploration programs focused on target definition, resource growth and new discoveries in known gold-mineralized regions.

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