Blue Star Gold Corp. provided an update on the final results from the 2022 exploration campaign. Drilling focused on both potential new resource areas and on select areas of the Flood Zone deposit to improve geological and resource modeling as part of a multi-prong exploration program across the Company's highly prospective Ulu, Hood River, and Roma projects located in the Kitikmeot Region of Nunavut.

Exploration Program Results: 15.00 g/t gold over 17.65 m, including a 6.00 m interval of 25.74 g/t gold from DD22- FLO-002 - representing the highest value (grams gold x width metres) of all intercepts drilled by the Company 6.52 g/t gold over 17.4 m, including 9.96 g/t over 6.3 m in DD22-FLO-001 Current highlight drill results: DD22-FLO-006: 4.41 g/t gold over 10.42 m, expands a shallow Flood Zone hanging wall zone DD22-FLO-007: 3.52 g/t gold over 4.62 m from 6.66 m depth, confirms potential for mineralisation in oblique orientations to the Flood Zone DD22-FLO-003 and -004: confirms the presence of the Flood Zone structure in the Sediment Core area approximately 200 m to the southeast of the deposit Flood Zone core resampling program highlights: Sampling previously unsampled core around an historical Flood Zone intercept in drill hole 04UL-02 expanded the interval to 3.18 g/t gold over 31.10 m (includes the original interval of 6.91 g/t gold over 7.45 m) Additional samples collected from a sampling gap between two higher grade intervals resulted in a 6.56 m interval of 19.07 g/t gold Exploration Program Summary: The exploration program consisted of 25 drill holes totaling 3,700 m in the Gnu (Nutaaq) Zone, Central- C, Axis, Sediment Core and select targets in the Flood Zone. The objective was to test target areas, in particular the expanding Gnu (Nutaaq) Zone and the Central-C and Axis zones, located within a few hundred metres of the Flood Zone gold deposit. All drilling was completed with oriented core to assist in geological modeling.

An additional sampling program of historical core from nine drill holes was undertaken to better determine mineralisation boundaries due to unsampled shoulders on some mineralised zones. In addition, a 3,055-line km airborne geophysics program and a regional till sampling program on the Roma Project was conducted. Detailed review and prospecting/mapping of 58 of the targets within the >100 compiled pipeline showings were also completed.

Discussion of New Drill Results Reported: DD22-AXS-001: drilled to test for mineralization subparallel to the Flood Zone, while simultaneously undercutting a 2021 intercept in hole 21BSG-009 and targeting an area above a 1990 intercept in hole 90VD46. The hole was drilled through various types of basalt rock for the entire length of the hole. A zone of alternating bands of chlorite/diopside - biotite occurs in weakly strained, fine-grained basalt from 88.59 to 90.84 m, with ~ 7% pyrrhotite, ~ 5% acicular/blebby/disseminated arsenopyrite, and ~ 4% pyrite.

This interval returned 1.00 m of 2.81 g/t gold. Another significant mineralization zone occurs within silicified, pillow basalt from 111.33 to 115.36 m, with ~ 8% pyrrhotite, 5% acicular arsenopyrite and 3% pyrite. This interval returned 4.03 m of 1.79 g/t gold and confirms 90 m of vertical continuity between the 2021 and 1990 drillholes mentioned above.

DD22-FLO-003: drilled as part of a fence approximately 200 metres SE of the main Flood Zone testing for structure and the presence of basalt units in a folded structure (Sediment Core). The hole collared in sediments intruded by quartz-feldspar porphyry (QFP) dykes and ended in a section of conformable mafic volcanic units. A fault zone with angular fragments was intersected at 101.84 m and a section of variably altered and mineralised mafic units was encountered between 108.95 to 111.76 m and 125.00 to 133.75 m; the latter returning a broad low grade gold signature of 8.75 m of 0.37 g/t gold.

DD22-FLO-004: the second hole in the Sediment Core fence encountered variably strained sections of greywacke intruded by QFP dykes, a 0.5 m quartz vein and minor volumes of basalt before the hole ended in a two mica granitoid. Numerous clay rich brittle faults were logged. A significant alteration zone with veining and mineralisation (sphalerite> pyrite>galena) occurs at the sediment - granitoid contact.

The best intercept in the contact zone was 6.59 g/t gold over 1.00 m. DD22-FLO-005: drilled to test a hanging wall zone to the main Flood Deposit and better define the basalt sediment contact on the west side of the Ulu fold. The hole encountered basalt, a transitional contact zone and then greywacke. A 2 m zone of strain and alteration was encountered in the transitional basalt immediately above the sediment contact with disseminated pyrite> pyrrhotite and trace arsenopyrite.

Low gold grades were returned indicating continuity of the zone.