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Highlights
• Private placement to raise up to CAD 2 million through FT Units and standard Units
• Flow-through proceeds to fund exploration expenditures in Nunavut
• Warrants exercisable at CAD 0.20 for one year from closing date

Blue Star Gold Corp. (TSXV:BAU; FSE:5WP0) has announced plans for a non-brokered private placement of up to CAD 2 million, subject to TSX Venture Exchange approval. The financing will include the issuance of up to 3,333,333 flow-through units at CAD 0.15 each and up to 10,714,285 standard units priced at CAD 0.14.

Each flow-through unit (FT Unit) will consist of one common share qualifying as a “flow-through share” under Canadian tax rules, and one-half of one common share purchase warrant. Each standard unit (Unit) will include one common share and one-half of one warrant. Each whole warrant will entitle the holder to purchase one additional common share at a price of CAD 0.20 per share for one year from the closing date.

The gross proceeds from the sale of FT Units will be directed toward eligible Canadian exploration expenses, specifically those qualifying as “flow-through mining expenditures” under the Income Tax Act (Canada) and will be applied to Blue Star’s projects in Nunavut. The company intends to renounce qualifying expenditures to FT Unit subscribers with an effective date no later than December 31, 2025.

Proceeds from the sale of standard Units will be allocated to general working capital. All securities issued under the placement will be subject to a hold period of four months and one day under applicable Canadian securities laws. The company may pay finders’ fees to eligible parties in connection with the placement.

Blue Star Gold is a mineral exploration and development company operating in Nunavut, Canada, with a landholding portfolio of approximately 300 square kilometers across the High Lake Greenstone Belt. The company’s projects include the Ulu Gold Project and the Roma Project, both of which are near the proposed Grays Bay deep-water port and road corridor.