Vancouver, British Columbia--(Newsfile Corp. - August 21, 2019) - Blue Star Gold Corp. (TSXV: BAU) (FSE: 5WP) ("Blue Star" or the "Company") is pleased to announce it is in receipt of the Land Use License issued by the Kitikmeot Inuit Association and its water licence from the Nunavut Water Board. Licence No. KTL319C008 allows access to the Inuit Owned Lands for Hood River exploration camp and operations and to the Ulu mining lease and airstrip to support Blue Star's field programs and the Ulu reclamation planning studies. In addition, the new, amended water licence, 2BE-HRP1924, allows the Company to conduct its drilling and camp activities.
With the permits and water licence in-hand, Blue Star is further pleased to announce it has mobilized field crews to construct its exploration camp to house the drill and support crews, its geologists and assistants and core logging and sampling facilities. It is intended that drilling and the surface work commence on or about August 28th, 2019.
Stephen Wilkinson, the Company's CEO and President, commented, "Our 2019 program will include 2,000 meters of diamond drilling and detailed surface mapping and sampling on the Hood River property, focused on the lands immediately north of the Ulu mining lease. We intend to advance the North Fold Nose gold zone and the associated gold mineralization on the Hood River concessions and to demonstrate the potential of new and accretive gold resources."
Warren Robb P.Geo. is a Qualified Person under National Instrument 43-101 ("NI 43-101"), and has reviewed and approved the geological information contained in this presentation.
About Blue Star Gold Corp.
Blue Star is a Vancouver-based gold and silver exploration company focused on gold exploration and development within Nunavut, Canada. The Company through its subsidiary, Inukshuk Exploration Inc., owns the highly prospective 8,015 ha Hood River gold property located contiguous to the Ulu mining lease. Blue Star has recently exercised its option to acquire the Ulu, an advanced gold and silver project and awaits regulatory approvals for the transmittal of the lease and assignment of the permits and licenses. (Please see Blue Star's news dated - July 29, 2019)
Blue Star has 129.6 million shares outstanding and is listed on the TSX Venture Exchange with the symbol: BAU and on the Frankfurt Exchange with the symbol: 5WP. For information on the Company and its projects, please visit our website: www.bluestargold.ca.
For further information, please contact:
Stephen Wilkinson, President and CEO
Telephone: +1 778-379-1433
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the Policies of the TSX-Venture Exchange) accepts responsibility for the adequacy or accuracy of this Release.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS AND INFORMATION
This press release contains "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods. Examples of forward-looking statements include, among others, statements we make regarding prospective income and revenues, anticipated levels of capital expenditures for fiscal year, expectations of the effect on our financial condition of claims, litigation, environmental costs, contingent liabilities and governmental and regulatory investigations and proceedings, and estimates of mineral resources and reserves on our properties.
Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of our control. Our actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Important factors that could cause our actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the following: economic and financial conditions, including volatility in interest and exchange rates, commodity and equity prices and the value of financial assets, strategic actions, including acquisitions and dispositions and our success in integrating acquired businesses/our success in integrating the Ulu Gold Property into our operations, developments and changes in laws and regulations, including increased regulation of the mining industry through legislative action and revised rules and standards applied by the regulatory bodies in Nunavut, changes in the price of fuel and other key materials and disruptions in supply chains for these materials, closures or slowdowns and changes in labour costs and labour difficulties, including stoppages affecting either our operations or our suppliers' abilities to deliver goods and services to us, as well as natural events such as severe weather, fires, floods and earthquakes or man-made or other disruptions of our equipment, and inaccuracies in estimates of mineral resources and/or reserves on our mineral properties.
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