On July 20, 2023, Blue Star Gold Corp closed the transaction. The company issued 700,000 flow-through units at an issue price of CAD 0.42 per FT unit for gross proceeds of CAD 294,000 and 1,175,000 charitable flow-through units at an issue price of CAD 0.49 per Charitable FT Unit for gross proceeds of CAD 575,750 for aggregate gross proceeds of CAD 869,750. Each FT Unit consists of one flow-through common share of the Company (a "FT Share") and one-half of one transferable warrant (each whole warrant, a "Warrant"), with each whole Warrant exercisable at CAD 0.50 per Share until July 20, 2025 (the "Expiry Date").

Each Charitable FT Unit consists of one FT Share and one-half of one Warrant, with each whole Warrant exercisable at CAD 0.50 per Share until the Expiry Date. The Company paid finder's fees in the amount of CAD 34,912.50 cash and 77,250 non-transferable finder's warrants (each a "Finder's Warrant") to GloRes Securities Inc. and CAD 17,272.50 cash and 35,250 Finder's Warrants to Teresa Schmid. Each Finder's Warrant is exercisable at CAD 0.50 per Share until the Expiry Date.