Mr. Geordie Mark reports

BLUE JAY GOLD ANNOUNCES MATERIALS PURCHASE AGREEMENT WITH OCEAN PARTNERS FOR REMEDIATION MATERIAL AT STELLER

Blue Jay Gold Corp. has signed a materials purchase agreement with Ocean Partners U.K. Ltd., an international trader of base and precious metal concentrates, in support of its Steller gold project, located 55 kilometres south of Whitehorse, Yukon. The materials purchase agreement provides for the sale of the company's remediation material and gives Ocean Partners exclusivity over the purchase of any further remediation stockpile and similar material from Steller during 2027.

The remediation material consists of surface stockpile material extracted by a previous operator during underground development at Skukum Creek. This material will be shipped to the Port of Skagway under the agreement with Ocean Partners.

Highlights

• Work that should be done: Removing this material reduces the historical legacy stockpiles at Steller and advances part of the company's remediation program. Shipping it to Skagway makes the remediation work more sustainable, turning a remediation obligation into a source of non-dilutive capital.
• 2027 exclusivity: Ocean Partners will have exclusivity over the purchase of any further remediation stockpile and similar material from Steller during 2027.
• PEA planned: Blue Jay intends to complete a preliminary economic assessment (PEA) in the first half of 2027 evaluating a direct shipping ore (DSO) option for the current Steller mineral resource under a life-of-mine scenario.
• Infrastructure advantage: Steller is connected by road to both Whitehorse and the deep-water port of Skagway, Alaska. The project is approximately 165 kilometres by road from the point where the material will be delivered.
• Advance payment on delivery: Ocean Partners will pay 90 per cent of the estimated value of each shipment shortly after loading, with the balance settled on final weights and assays.

"Projects with past operations often come with legacy stockpiles, and they create an opportunity to use progressive and novel approaches to rehabilitation. At Steller, geography gives us an elegant solution," said Geordie Mark, chief executive officer of Blue Jay Gold. "Our approach also highlights a part of Steller that is easy to overlook. Many projects have no simple way to deal with stockpiles. At Steller, we can truck the material from site to a nearby port and load it onto a ship. Doing this with Ocean Partners means the work generates capital for the company instead of consuming it, and an agreement that extends through 2027 shows that Ocean Partners sees longer-term value in Steller. This work also gives us an early indication of whether a lower-impact direct shipping approach could work at Steller. That access is a real advantage for the project, and it is why we intend to complete a PEA in the first half of 2027 that evaluates development options, including direct shipping. This shipment gives us a working test of the logistics that approach would rely on, while our exploration capital stays focused on drilling."

Brent Omland, chief executive officer of Ocean Partners, added: "Direct shipping of remediation material is one of the products Ocean Partners trades, and Steller has the attributes, with its high-grade gold and silver mineralization, a past-producing mine and road access to a deep-water port, that make it a good fit. The remediation material gives us a practical place to start working together, and our exclusivity through 2027 reflects our confidence in the project. We look forward to supporting Blue Jay as it advances Steller and considers the options available to bring its material to market."

Infrastructure and logistics

Steller is accessed by an approximately 84 km road from Whitehorse and sits approximately 20 km north of the British Columbia border. The material will be collected and trucked by existing highway to Skagway, Alaska, an established port on the Pacific coast. Delivery would take place at Skagway and then shipped to Ocean Partners' facilities.

Materials purchase agreement

Under the agreement, Ocean Partners will purchase 100 per cent of stockpiled and similar material to the end of 2027. Material will be delivered free on board at Skagway, with payment based on a grade-based payability scale. Ocean Partners will advance 90 per cent of the estimated value of each shipment shortly after loading, with the balance settled on final weights and assays.

Preliminary economic assessment

Blue Jay intends to complete a PEA in the first half of 2027 that evaluates a DSO option for the current mineral resource estimate at Steller under a life-of-mine scenario. The mineral resource estimate, prepared by P&E Mining Consultants Inc. with an effective date of Oct. 31, 2025, includes indicated mineral resources of 1,372,000 tonnes grading 9.06 g/t AuEq (gold equivalent) for 400,000 ounces AuEq and inferred mineral resources of 2,166,000 tonnes grading 6.45 g/t AuEq for 449,000 ounces AuEq, at a 3.0 g/t AuEq cut-off. Practical experience from shipping the 2026 remediation material, including logistics, sampling and commercial terms, is expected to inform the PEA.

The 2026 remediation material is not a mineral resource or mineral reserve under National Instrument 43-101. The company has not based any decision on a feasibility study of mineral reserves demonstrating economic and technical viability, and there is increased uncertainty and economic and technical risk associated with the bulk sample program.

Next steps

Blue Jay expects to ship the remediation material in the near term. The company will engage a consultant and begin work on the PEA this quarter. Blue Jay will continue to evaluate further remediation pathways in consultation with its partners and stakeholders. Proceeds from the sale of the 2026 remediation material will be used to finance exploration at Steller and for general working capital.

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 Ocean Partners U.K. Ltd.

Ocean Partners U.K. is part of the Ocean Partners group, a leading international trader of base and precious metal concentrates. Headquartered in the United Kingdom, with offices across North America, Europe, Asia and Latin America, Ocean Partners provides marketing, logistics, blending and warehousing, and financing services to metal producers worldwide.

About Blue Jay Gold Corp.

Blue Jay Gold Corp. 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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