Blue Star Gold Corp. announced a private placement of a non-brokered private placement of up to CAD 5,000,000 on May 17, 2023. The company will issue up to 6,250,000 units at a price of CAD 0.40 per unit for aggregate gross proceeds of up to CAD 2,500,000 and up to 5,434,783 flow-through units at CAD 0.46 per flow through unit for aggregate gross proceeds of up to CAD 2,500,000.

Each unit will consist of one common share and one-half of one transferable common share purchase warrant exercisable at CAD 0.50 per share for a period of 24 months from the closing date of the private placement. Each flow through unit will consist of one flow-through common share of the company and one half of one transferable warrant, with each whole Warrant exercisable at CAD 0.55 per share until the expiry date. The flow through shares will qualify as flow-through shares for purposes of the Income Tax Act.

All securities issued will be subject to a four-month and one day hold period pursuant to securities laws in Canada and, where applicable, the Exchange. Finders' fees may be payable to qualified parties.