Blue Star Gold Corp. announced that its 2023 exploration program is well underway. The program includes a multi-prong exploration effort across the Company's Ulu Gold Project and the Roma Project with two key focuses: identification and mapping of key areas to define the presence and location of chemically distinct lithological units closely associated with strong gold mineralisation, and drill targeting resource infill and potential new discovery areas.

Geophysical surveys, ground-truthing pipeline targets, mapping, and prospecting will be used to advance targets throughout Blue Star's highly prospective landholdings. Blue Star's 2022 exploration program consisted of diamond drilling (~3,800 metres in 28 drill holes), sampling of historic drill core, high resolution airborne magnetic surveying (3,055 km), ground-based VLF-EM surveying, lithogeochemical studies, mapping, prospecting, and continued remediation activities. The Ulu Gold Project Mineral Resource Estimate was updated during the year: Measured and Indicated Resource of 2.535 million tonnes at an average grade of 7.02 grams per tonne ("g/t") gold for 572,000 ounces of gold;.

Inferred Mineral Resource of 1.283 million tonnes at an averagegrade of 7.34 g/t gold for 303,000 ounces of gold. 2022 drilling highlights included: Flood Zone: 15 g/t gold over 17.65 metres, including a 6.00 metre interval of 25.74 g/t gold from DD22-FLO-002 - representing the value (grams gold times width metres) of all intercepts drilled by the Company; The Roma Project lies in the northern section of the High Lake Greenstone Belt. The project covers high grade gold showings discovered by previous explorers, notably BHP Minerals from 1988 to 1994.

Multiple significant gold showings are present within a 6.5 km x 2.4 km area on the historic Roma claim block. The original showing is a 0.30 to 3.0 m wide quartz vein exposed in outcrop and boulders for 2 km. In 1991, BHP drilled ten shallow holes totaling 465 metres to test 1.72 km of the strike of the vein.

All drill holes intersected quartz veins from 15 m to 37 m vertically below surface. Visible gold was noted in three of the drillholes and the best results were 12.38 g/t gold over 2.31 m (including 64.0 g/t gold over 0.37 m) from DDH MD-01, and 8.69 g/t gold over 1.87 m from MD-03. No drilling was conducted downdip of the high-grade intersection in DDH MD-01 and no step out drilling to the north from this intercept was conducted.

No follow up drilling is known to have been completed on this property since BHP's initial drill program in the 1990's. The company has not verified the historical results from the Roma Project and has presented information obtained from two assessment reports submitted by BHP Minerals: G. McMaster (1995), Roma 3, 4, 5 and 6 claims 1995 geological and geochemical report; and L. Anonby and W. Jopson (1992), geological, geochemical, geophysical and drilling report on the Roma 1 and 2 claims. The site of the future deep-water port at Grays Bay is 40 - 100 km to the north of the properties, and the proposed route corridor for the all-weather Grays Bay road passes near the Roma and Ulu Gold Projects.