Blue Star Gold Intercepts 15.00 G/t Gold Over 17.65 M |

Blue Star Gold Corp. (TSXV: BAU) (FSE: 5WP0) (OTCQB: BAUFF) ("Blue Star" or the "Company") announces the first drill results from its 2022 exploration program on the Ulu, Hood River and Roma projects located in the Kitikmeot Region of Nunavut. Assays from the initial Flood Zone drill hole are reported herein. The Company is also providing an update on additional exploration activities on its multi-prong exploration effort across its highly prospective Ulu, Hood River, and Roma projects.

Blue Star's CEO, Grant Ewing, commented, "Our 2022 exploration campaign has begun with impressive results returned from DD22-FLO-002, which has the highest value (grams gold x width metres) of all intercepts drilled by Blue Star. The intercepts in FLO-002 are expected to allow the conversion of existing inferred ounces to an indicated category and expand the Flood Zone resource. Our understanding of controls on mineralization has improved significantly over the last several months and this has contributed to better targeting at both the deposit and property scale. Several promising target areas throughout our prospective landholdings will be assessed during the current program."

The drilling at the Flood Zone is designed to provide additional data in areas where geological and resource modeling have data gaps and drilling at the Gnu Zone area is designed to expand the known extents of mineralised structures.

DD22-FLO-002 intersected 15.00 g/t gold over 17.65 m, and 5.30 g/t gold over 5.70 m, in a sparsely drilled area of the Flood Zone at approximately 100 m vertical depth. Both intercepts are within a structurally disrupted zone between a high Fe-Ti basalt unit and lower Fe-Ti basalt unit immediately adjacent to the sediment fold hinge. Drill hole DD22-FLO-001 tested the width of the Flood Zone in a near surface area where previous drilling ended prematurely. Core lengths of 6.64 m and2.30 m with acicular arsenopyrite mineralisation were encountered in DD22-FLO-001; assays are pending.

Assays are pending for all holes drilled in the Gnu Zone area including: DD22-MIQ-001, an eastward step-out along and down dip of the known acicular arsenopyrite zone (it intersected a blind polymetallic vein however it did not intersect the target zone); DD22-MIQ-002, a westward step-out along the known acicular arsenopyrite trend which intersected 2.25 m of 6% acicular arsenopyrite; and DD22-MIQ-003/003A.

Other Gnu Zone drill holes completed to date include DD22-QIP-001 and DD22-QIP-002 that are evaluating the new polymetallic vein discovery (20.8 g/t Au over 8.15 m) made by Blue Star in 2021. All of these holes are being sampled or have samples at the laboratory and these assays will be released once results are received.

Darren Lindsay, Blue Star's VP Exploration stated: "The team has done an outstanding job from getting the camp running, to successfully completing the regional magnetics program over Roma and Hood River, to delivering these initial spectacular results (FLO-002) in areas of geological uncertainty within the existing Flood Zone deposit. In addition, another polymetallic vein has been discovered while determining the extent of the 2021 vein discovery at the Gnu Zone. On top of these successes the exploration team is also very excited about implementing the detectORE™ system of Portable PPB Pty Ltd in our regional exploration efforts."

Figure 1: DD22-FLO-002 - visible gold in interval of 17.65 m grading 15.00 g/t gold. To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/2421/131317_e1fe554ab4214871_003full.jpg

Figure 2: Core photo of MIQ-001; new vein discovery from 95.90 m to 100.25 m, altered gabbro with strong quartz-pyrrhotite-pyrite-chalcopyrite-sphalerite veining. Assays are pending. To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/2421/131317_e1fe554ab4214871_004full.jpg

Figure 3: Table of results to date. To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/2421/131317_e1fe554ab4214871_005full.jpg

Figure 4: Table of drill collar locations for holes reported in this release. To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/2421/131317_img.jpg

Figure 5: Plan map of drill holes and progress. To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/2421/131317_e1fe554ab4214871_007full.jpg

The geophysical component of the 2022 program is now complete with 1,690 line km at 50 - 100m line spacing flown over the entire Roma landholdings, and 1,365 line kms at 50m line spacing flown over the entire Ulu lease and Hood River concession that was not previously conducted in the 2021 survey. Final deliverables are pending which will further guide our mapping and prospecting programs over the landholdings.

An orientation survey over the known areas of mineralization in the Ulu lease including the Flood Zone and the Gnu Zone have been completed with samples processed by the detectORE™ system for rapid low level gold analysis by portable XRF. Anomalous zones were detected in the areas expected including down-ice of the Flood Zone deposit. Subsequently the regional sampling program on the Roma project has been initiated.

Blue Star Gold's Projects

The Company's properties are located approximately 525 km NNE of Yellowknife, NT in the Kitikmeot region of western Nunavut. The hamlet of Kugluktuk is approximately 210 km to the NW. The Roma property lies approximately 30 km north of the Ulu-Hood River property. The total area of Blue Star's projects encompasses 267 km2 of the highly prospective and underexplored High Lake Greenstone Belt.

The Ulu mining lease hosts the advanced stage Flood Zone gold deposit, where a significant high-grade gold resource has been outlined. Several additional gold prospects (including, but not limited to, Zebra, Contact, Central, Axis, and Gnu) are spatially related to the axis of the 5 km long Ulu Fold, which extends from the Ulu lease onto the northern part of the Hood River property and culminates at the North Fold Nose Zone. The recent expansion of the Hood River concession added several new target zones south of the Flood Zone gold deposit. The eastern side of the Hood River property is contiguous to the Ulu lease, and hosts over twenty known gold showings. The Hood River prospects have the same deformation history (including tight folding) as well as similar mineralization styles (acicular arsenopyrite and polymetallic quartz veins) and stratigraphic sequences as the Flood Zone. One of the most prospective target areas on the eastern Hood River property is the 4 km long Crown-Pro trend which has seen only limited drilling.

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 2.0 km. In 1991, BHP drilled 10 shallow holes totalling 465 metres to test 1.72 km of 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 Au over 2.31 m (including 64.0 g/t Au over 0.37 m) from DDH MD-01, and 8.69 g/t Au 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 property and has presented information obtained from two assessment reports submitted by BHP Minerals Canada Ltd.; McMaster, G., (1995). Roma 3,4,5 and 6 Claims 1995 Geological and Geochemical Report, and Anonby, L. and Jopson, W., (1992). Geological, Geochemical, Geophysical and Drilling Report on the Roma 1 and 2 Claims.

The site of the future deep-water port at Gray's Bay is 40 - 100 km to the north of the properties, and the proposed route corridor for the all-weather Gray's Bay road passes in close proximity to the Roma, Ulu, and Hood River projects.

Figure 6: Blue Star projects. To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/2421/131317_e1fe554ab4214871_008full.jpg

Drill holes reported had core samples cut by core saw with one half of the core retained and the other half sent for analysis. Samples were prepared by ALS Yellowknife-Geochemistry and analyzed at ALS Global, North Vancouver. Gold analysis was by fire assay using ALS code Au-AA26 and multielement analysis by code ME-MS61. Control samples include a crush duplicate every twenty samples; certified reference material was inserted once every ten samples. Reported assay intervals are uncapped, use a minimum 1 g/t gold assay cut off with the inclusion of up to 2 m of material below cut-off. True widths for all but the Flood Zone are not known due to lack of drilling and may range from 50% to 95% of drilled lengths.

DetectORE™ is a new rapid geochemical analysis technique developed by Portable PPB Pty Ltd to be used at exploration sites. Regional geochemical samples (1000m x 50m grid) consisting of till samples collected from frost boils were sieved to

Darren Lindsay, P. Geo. and Vice President Exploration for Blue Star, is a Qualified Person under National Instrument 43-101 ("NI 43-101") and has reviewed and approved the technical information contained in this news release.

About Blue Star Gold Corp.

Blue Star is a gold company focused on exploration and development within Nunavut, Canada. Blue Stars landholdings total approximately 270 square kilometres of highly prospective and underexplored mineral properties in the High Lake Greenstone Belt, Nunavut. The Company owns the Ulu Gold Property mining lease, an advanced gold project, the highly prospective Hood River Property that is contiguous to the Ulu lease, and the Roma Project. A significant high-grade gold resource exists at the Flood Zone deposit (Ulu lease), and numerous high-grade gold occurrences and priority targets occur throughout the Ulu, Hood River and Roma Projects.

Blue Star is listed on the TSX Venture Exchange under the symbol: BAU, the U.S. OTCQB Venture Market under the symbol: BAUFF, and on the Frankfurt Exchange under the symbol: 5WP0. For information on the Company and its projects, please visit our website: www.bluestargold.ca.

For further information, please contact:

Grant Ewing, P. Geo., CEO Telephone: +1 778-379-1433 Email: info@bluestargold.ca

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 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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Nunavut, Canada's easternmost territory, was a marvel of natural resources and investment opportunities long before its split from the Northwest Territories in 1999. Since then, the territory has seen a mining and economic boom that many new, modern states rarely see. Mineral exploration investment has increased five-fold and Nunavut is now the northern leader in exploration investment.

On the global stage, Nunavut ranks within the best 30 jurisdictions worldwide based on the geologic attractiveness and government policies in support of exploration. The territory hosts a perfect storm of investor interest and several highly prospective precious minerals projects, including an operational diamond mine and permitting-stage gold projects.

Blue Star Gold (TSXV: BAU, FSE: 5WP0, OTCQB: BAUFF) is an exploration and development company focused on high-grade gold and silver projects in Nunavut. The company delivers a significant opportunity for value creation based on its highly prospective precious metal assets and resource growth potential. Blue Star's experienced and skilled team primes the company for success in mining endeavors and strong relationship formation with regulatory bodies and local communities.

Nunavut boasts a politically stable and mining-friendly jurisdiction. Over several decades, the territory has built significant investor relations in the natural resource sector and hosts some of the lowest capital, small business and corporate taxes in the country. These conditions strategically position Blue Star Gold for fast-tracked development and provide the excellent potential for resource expansion and future advanced drilling campaigns.

The company currently has two contiguous gold projects in operation, its flagship Ulu gold project and Hood River property. The Ulu gold project hosts an extensive high-grade gold resource that Blue Star intends on expanding in the future. New discoveries on this core asset also demonstrate high-quality mine transformation potential.

Ulu's main deposit called Flood Zone has approximately 605,000 ounces of gold measured and indicated at grades of 7.5 g/t gold over 2.5 million tonnes. Further inferred resources show an additional 226,000 ounces of gold at 5.57 g/t over 1.26 million tonnes.

The Hood River property is relatively unexplored but poses an exciting opportunity for precious metal discovery. Historic work from neighboring projects forecast promising gold yield, which has since been supported by high-grade surface samples on numerous showings on the property. Blue Star currently has over 20 gold drill targets identified for future resource growth.

When asked about immediate plans for the next 12 months, Blue Star Gold CEO Grant Ewing discussed advanced technological data collection and analysis. “We've had several generations of work, but no one has really put the data altogether. So that's the first step we've undertaken with this Ulu project." This foundational step would create an in-depth geological scaling model of the property compiled in a state-of-the-art GIS database.

Much of Blue Star's success can be attributed to its very supportive shareholder base and strong management team. Combining expertise from geological, exploration and financial sectors, the management and technical team primes the company for significant growth.

With a core gold asset and another very high-quality exploration project, the company has a clean focus that prioritizes development and stakeholder interests.

The Ulu property covers an area of 947 hectares approximately 523 kilometers north of Yellowknife, Northwest Territories, and within the Kitikmeot Settlement Area of Nunavut. The project site is accessible via fixed-wing aircraft or seasonal ice road and benefits from local infrastructure, including telecommunications, administrative and housing structures.

The property's main deposit, the Flood Zone, is a northwest-trending, shear hosted anastomosing vein/alteration system. A 2020 exploration program reported gold assay results that measured 14.95 g/t gold over 13.8 meters (upper zone) and 9.65 g/t gold over 6.0 meters (lower zone). Additionally, the secondary Gnu Zone deposit has seen partial drilling exposure of its inferred 66,000 ounce gold resource and it is open for expansion with numerous proximal targets.

In 2020, Blue Star conducted a significant diamond drilling program at its Ulu and Hood River properties. The operation included 7,624 meters of drilling over 38 diamond drilling holes.

Future plans include an updated resource estimate, as well as exploration focused on expanding resources at the Flood and Gnu deposits. Past metallurgical tests indicate excellent gold recoveries, which poses exciting possible discoveries and economic prosperity in Blue Star Gold's future.

The Hood River property spans an 8,015 hectare area in Nunavut, Canada, and has a 20 year renewable Mineral Exploration Agreement (MEA) issued by Nunavut Tunngavik in June 2013. The property covers the southern portion of the High Lake Greenstone Belt, known for rich gold resources and structural characteristics similar to the prolific Red Lake Belt in Ontario.

Exploration of the property identified 26 mineralized showings spread across five main zones: North Fold Nose, Crown, Penthouse South, Penthouse North and Blackridge. A 2019 drilling and prospecting program reported significant mineral samples graded between 3.9 g/t gold and 31 g/t gold, the highest of which was at North Fold Nose.

The project's underexplored history presents investors with an entry-level opportunity for this high-quality project. Blue Star Gold plans to conduct further prospecting and sampling to identify and prioritize prospective gold targets.

Grant Ewing is an accomplished mining executive with a strong technical foundation and solid business acumen. He is a professional geologist by background and has over 25 years of experience in the mineral industry and the last 10 years in senior executive roles.

Ewing's extensive knowledge base covers the entire mine development cycle, from early-stage exploration to production, in several different commodities. He has experience building value by managing the development of exploration assets from the discovery phase to economic evaluation. Strong corporate development and investor relations, merger and acquisitions and capital markets knowledge complement his mineral industry experience.

Ewing has experience with several successful mineral exploration and development companies at the executive level throughout his career, including Rockridge Resources, Kiska Metals/AuRico Metals and Acadian Mining, among others. Ewing is also a qualified person under National Instrument 43-101.

Robert James Metcalfe is a lawyer and was a senior partner with the law firm Lang Michener LLP for 20 years. He is the former President and CEO of Armadale Properties and Counsels to all of the Armadale Group of Companies, with significant holdings across numerous industries including finance, construction of office buildings, airport ownership, management and refurbishing, land development and automotive dealerships as well as newspaper publishing, radio and television stations. Metcalfe has served as president, CEO, lead director, chairman and committee member on numerous publicly listed natural resource and industry company corporate boards in Canada, the USA, England, South America and Africa.

As director and shareholder, Metcalfe has been engaged in numerous acquisitions, divestitures, corporate reorganizations, financings and corporate improvements, and served on multiple special committees across many sectors. He is a member of the Institute of Corporate Directors and a member in good standing of the Law Society of Upper Canada.

Andrea Yuan is a Chartered Professional Accountant in British Columbia and a Certified Public Accountant in New Hampshire. Yuan obtained her Bachelor of Economics from Shanghai University of Finance and Economics in 1994 and started her career as an internal auditor and then as team head of the internal audit department at the Bank of China's Shanghai Pudong branch in China from 1994 to 1999. After arriving in Canada in 1999, she worked in various senior accounting positions. From 2004 to 2011, she worked at Davidson and Company LLP, Chartered Accountants, where she advanced to an audit principal. In November 2011, Yuan started her own financial and management consulting company, Black Dragon Financial Consulting Services Inc. She acted as CFO for several public companies listed on the TSX Venture Exchange.

Darren Lindsay is a registered professional geoscientist in BC, NU and NT with over 25 years of mineral exploration experience across four continents, focusing on orogenic gold systems. In addition to more than 15 years working in the Slave Structural Province with BHP Minerals, Inmet Mining, Miramar Hope Bay, Newmont and NxGold, Lindsey has also worked on orogenic gold deposits in Ontario, Guyana, Ghana and Western Australia. He was directly involved with and led teams for belt-scale exploration, resource expansions, and feasibility level studies of gold deposits in the Hope Bay Belt, Nunavut. Also, Lindsey was a key member of the team that defined prospective stratigraphy hosting the northern deposits of the Hope Bay belt that led to the targeting and substantial expansion of the mineral resources leading to the purchase of Miramar Hope Bay by Newmont.

Lindsey holds a B.Sc. honors degree in geology from the University of British Columbia and a B.Sc. honors degree in biochemistry from Carleton University.

Peter M. Kuhn is a proactive mining executive recognized for vision and creative problem solving with extensive experience in international projects. He has held senior positions with Thyssen Mining Construction, BLM Mining Services in Sudbury, Bullion River Gold and his own private company. In 2014, he joined WPC Resources and was General Manager of Blue Star Gold Corp. until he was appointed a Technical Advisor. Kuhn holds a Master of Engineering degree from the Technical University of Clausthal, Germany.

Eugene Flood is a professional geologist with more than 35 years of experience in Canada and internationally. Flood discovered the Flood Zone on the Ulu property in June 1989 for BHP Minerals and found several additional mineralized zones on this property, including the Central Zone, West Limb, East Limb, South Zone, Gnu Zone, Zebra, Apex, and the Northern Fold Nose Zone. Flood has also been involved in all aspects of the Ulu project, including mapping, drilling and calculating the first resource on the Flood Zone and identified the Doris Lake area in North Hope Bay, Nunavut.

As the owner of Flood Consulting, he has provided GIS-based spatial prospectively analysis for such clients as Goldfields, B2 Gold and Goldcorp. Currently, he acts as technical advisor to Aurion Resources in the Central Lapland Greenstone Belt in Finland. In addition to 10 years working in the Slave Structural Province, Eugene has also worked on orogenic gold deposits in Ontario, Sweden, Finland, French Guyana and Brazil.

Flood graduated from Lakehead University with a B.Sc. degree in geology in 1985.

Blue Star Gold Corp. (TSXV: BAU) (FSE: 5WP0) (OTCQB: BAUFF) ("Blue Star" or the "Company") announces that, further to its news release of June 2, 2022, and subject to the final approval of the TSX Venture Exchange (the "Exchange"), it has closed its non-brokered private placement (the "Private Placement") by issuing 3,077,000 common shares (each a "Share") at $0.65 per Share, 2,523,289 flow-through shares (each a "FT Share") at a price of $0.73 per FT Share, and 1,340,031 charitable flow-through common shares (each, a "Charitable FT Share") at a price of $0.91 per Charitable FT Share raising total gross proceeds of $5,061,479. The Company paid finder's fees of $134,520 to GloRes Securities Inc. and Qwest Investment Fund Management Ltd., and issued 85,943 common shares to GloRes Securities Inc., Teresa Schmid, and Qwest Investment Fund Manager.

The Shares, FT Shares and Charitable FT Shares are subject to a four-month and one day hold period pursuant to securities laws in Canada and, where applicable, the Exchange. The Company intends to use the net proceeds from the FT Share and Charitable FT Share Private Placement to incur Canadian exploration expenses (the "Qualifying Expenditures") on its projects in Nunavut prior to December 31, 2023. The Company will renounce the Qualifying Expenditures to subscribers of FT Shares for the fiscal year ended December 31, 2022.

Dr. Georg Pollert, a director and controlling shareholder of the Company, received 3,077,000 Shares pursuant to the Share Private Placement. As a result, the issuance of these Shares is considered a related party transaction (as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101")). The Company relied upon the "Fair Market Value Not More Than 25% of Market Capitalization" exemption from the formal valuation and minority shareholder approval requirements.

About Blue Star Gold Corp.

Blue Star is a gold company focused on exploration and development within Nunavut, Canada. Blue Stars landholdings total approximately 270 square kilometres of highly prospective and underexplored mineral properties in the High Lake Greenstone Belt, Nunavut. The Company owns the Ulu Gold Property lease, an advanced gold project, the highly prospective Hood River Property that is contiguous to the Ulu mining lease, and the Roma Project. A significant high-grade gold resource exists at the Flood Zone deposit (Ulu lease), and numerous high-grade gold occurrences and priority targets occur throughout the Ulu, Hood River and Roma Projects.

For information on the Company and its projects, please visit our website: www.bluestargold.ca.

For further information, please contact: Grant Ewing, P. Geo., CEO Telephone: +1 778-379-1433 Email: info@bluestargold.ca

This news release does not constitute an offer for sale of securities for sale, nor a solicitation for offers to buy any securities. Any public offering of securities in the United States must be made by means of a prospectus containing detailed information about the company and management, as well as financial statements.

This news release includes "forward-looking information" that is subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Such statements are subject to all of the risks and uncertainties normally incident to such events. Investors are cautioned that any such statements are not guarantees of future events and that actual events or developments may differ materially from those projected in the forward-looking statements. Such forward-looking statements represent management's best judgment based on information currently available.

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Blue Star Gold Corp. (TSXV: BAU) (FSE: 5WP0) (OTCQB: BAUFF) ("Blue Star" or the "Company") announces that its drill program has commenced, with the first drill hole on the Flood Zone now completed. The exploration program consists of a multi-prong approach including airborne and ground geophysics, regional geochemical sampling, prospecting, and mapping, and a focused diamond drilling program. The work program will be carried out across the Company's Ulu, Hood River, and Roma projects with two key focuses: infill and expansion drilling, and pipeline target review and development throughout the prospective landholdings.

Blue Star is the largest title holder in the highly prospective and underexplored High Lake Greenstone Belt in Nunavut, controlling +45 km of the Belt. The Company holds a 100% interest in three projects including the Ulu Gold project, the contiguous Hood River project, and the Roma project. The Ulu project hosts the Flood Zone deposit, where a significant high-grade gold resource has been outlined.

Blue Star's CEO, Grant Ewing, commented, "The launch of our 2022 exploration program has been executed very efficiently. The multi-prong program will entail drill testing several high priority targets close to the Flood Zone deposit and progressively advance the extensive pipeline of targets throughout our landholdings. The initial drill holes will test potential extensions to the Flood Zone deposit followed by testing targets in the Gnu Zone area where a new high-grade vein system was discovered by Blue Star in 2021."

Exploration Program Summary The first drill hole on the Flood Zone, DD22-FLO-001, has been completed following up on a shallow open intersection (96UL-28 graded 6.02 g/t over 8.35 m from 15 m downhole); the drill hole was shutdown in mineralisation. DD22-FLO-001 intersected variably mineralised zones between 4.65 m and 17.00 m. The drill is now collared on the second site that will evaluate the geometry of the basalt-sediment contact in an area hosting previous intercepts of 6.66 g/t over 5.09 m, 10.21 g/t over 11.11 m and 7.29 g/t over 9.28 m (04UL-02, 04UL-32 and 89VD-20 respectively, all intervals are true width). A minimum 2,500 metre drill program will be conducted during the exploration campaign focused on resource expansion and high priority target evaluation.

Ground geophysical surveying using a walking magnetics and VLF-EM system has covered the known vein structures at the Gnu Zone and extensions to prospective stratigraphy inferred to have potential to host similar structures. Targets are the recently discovered Gnu Zone polymetallic vein that returned 5.34 m of 3.7 g/t in drill hole 21BSG020 and 8.15 m of 20.8 g/t in drill hole 21BSG007, and similar blind mineralized structures. Additional geophysical grids are also planned as part of the target review process to determine if this type of survey can refine drill targeting at other showings.

Precision GeoSurveys Inc. ("Precision") has been engaged to undertake a comprehensive high resolution heli-borne geophysical survey utilizing Precision's proprietary four-sensor magnetic gradient system to refine the structure, lithology, and alteration prior to mapping and prospecting programs. The geophysical program for 2022 covers the entire Roma landholdings, and the entire Ulu lease and Hood River concession that had not been previously flown and is currently 90% complete (~2,750 km of 3,055-line kms).

Figure 1: Ulu and Hood River Projects.

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Blue Star Gold's Projects The Company's properties are located approximately 525 km NNE of Yellowknife, NT in the Kitikmeot region of western Nunavut. Kugluktuk is approximately 210 km to the NW. The Roma property lies approximately 30 km north of the Ulu-Hood River property. The total area of Blue Star's projects cover +45 km of the highly prospective and underexplored High Lake Greenstone Belt.

The Ulu lease and the contiguous Hood River property together encompass greater than 12,000 hectares of highly prospective exploration ground. The recent acquisition of the prospective and underexplored Roma property that lies approximately 30 km north increased the Company's landholdings by more than 14,000 hectares in the High Lake Greenstone Belt.

The Ulu lease hosts the advanced stage Flood Zone gold deposit, where a significant high-grade gold resource has been outlined. Several additional gold prospects (including, but not limited to, Zebra, Contact, Central, Axis, and Gnu) are spatially related to the axis of the 5 km long Ulu Fold, which extends from the Ulu lease onto the northern part of the Hood River property and culminates at the North Fold Nose Zone. The recent expansion of the Hood River concession added several new target zones south of the Flood Zone gold deposit. The eastern side of the Hood River property is contiguous to the Ulu lease, and hosts over twenty known gold showings. The Hood River prospects have the same deformation history (including tight folding) as well as similar mineralization styles (acicular arsenopyrite and polymetallic quartz veins) and stratigraphic sequences as the Flood Zone. One of the most prospective target areas on the eastern Hood River property is the 4 km long Crown-Pro trend which has seen only limited drilling.

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 in close proximity to the Roma, Ulu, and Hood River projects.

To view an enhanced version of Figure 2, please visit: https://orders.newsfilecorp.com/files/2421/128542_697256de046449e3_004full.jpg

Technical Disclosure Previously completed drill intervals are sourced from the database used for the Cowley, P., Singh, R., and Giroux, G. Technical Report on the Ulu Gold Property, Nunavut, Canada with amended date July 2015.

Drill holes noted above had core samples cut by core saw with one half of the core retained and the other half sent for analysis. Drill and rock samples were prepared by ALS Yellowknife-Geochemistry and analyzed at ALS Global, North Vancouver. Gold analysis was by fire assay using ALS code Au-AA26 and multielement analysis by code ME-MS61. Control samples include a pulp or crush duplicate every twenty samples; certified reference material was inserted once every ten samples. Reported assay intervals are uncapped, use a minimum 1 g/t gold assay cut off with the inclusion of up to 2 m of material below cut-off. True widths for all but the Flood Zone are not known due to lack of drilling and may range from 50% to 95% of drilled lengths. Historical intercepts reported from the Roma Project have not yet been verified. Gold analysis for soil and till samples were undertaken using Portable PPB Pty Ltd's detectORE™ patented low-level gold by pXRF technology. Every 90 samples have two (2) certified reference materials in the processing stage and in the analyses stage there are four (4) certified collector device readings. A minimum of 10 % of the samples are to be sent for check analysis.

Qualified Person Darren Lindsay, P. Geo. and Vice President Exploration for Blue Star, is a Qualified Person under National Instrument 43-101 ("NI 43-101") and has reviewed and approved the technical information contained in this news release.

About Blue Star Gold Corp. Blue Star is a gold company focused on exploration and development within Nunavut, Canada. Blue Star's landholdings total approximately 270 square kilometres of highly prospective and underexplored mineral properties in the High Lake Greenstone Belt, Nunavut. The Company owns the Ulu Gold Property mining lease, an advanced gold project, the highly prospective Hood River Property that is contiguous to the Ulu lease, and the Roma Project. A significant high-grade gold resource exists at the Flood Zone deposit (Ulu lease), and numerous high-grade gold occurrences and priority targets occur throughout the Ulu, Hood River and Roma Projects.

For further information, please contact: Grant Ewing, P. Geo., CEO Telephone: +1 778-379-1433 Email: info@bluestargold.ca

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS AND INFORMATION

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/128542

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Blue Star Gold Corp. (TSXV: BAU) (FSE: 5WP0) (OTCQB: BAUFF) ("Blue Star" or the "Company") announces that it has mobilized its summer exploration program. The program will entail a multi-prong exploration effort across its Ulu, Hood River, and Roma projects with two key focuses: infill and expansion drilling, and pipeline target review and development throughout its highly prospective landholdings.

Blue Star's CEO, Grant Ewing, commented, "We are excited to launch our 2022 exploration campaign. Several high potential target areas will be assessed during the program as we work to make significant new discoveries throughout our prospective landholdings. The current program will build off the knowledge acquired in prior programs with respect to new mineralisation styles, potential geochemical and structural controls, as well as the systematic compilation of the targets in the historical dataset."

Blue Star has engaged Precision GeoSurveys Inc. ("Precision") of Langley, BC to undertake a comprehensive high resolution heli-borne geophysical survey utilizing Precision's proprietary four-sensor magnetic gradient system to refine the structure, lithology, and alteration prior to mapping and prospecting programs.

The geophysical program for 2022 is comprised of 1,690-line km at 50 - 100m line spacing over the entire Roma landholdings that were not covered in the 2021 survey, and 1,365-line km at 50 m line spacing over the entire Ulu lease and Hood River concession that was not previously flown in the 2021 survey.

In addition, the recently discovered Gnu zone polymetallic vein that returned 5.34 m of 3.7 g/t gold in drill hole 21BSG020 and 8.15 m of 20.8 g/t gold in drill hole 21BSG007 during the 2021 program will be evaluated further using a magnetics / VLF-EM system. Parallel structures within this 700 m x 150 m target area will also be assessed.

Blue Star has engaged NorthTech Drilling Ltd. ("NorthTech") of Yellowknife, NT to undertake the Company's drilling program focused on resource expansion and priority target evaluation. A balanced program of +3,000 m of infill, follow-up, and initial evaluation drilling is currently scheduled with opportunities to expand through the season.

Blue Star will also be undertaking a regional sampling program using Portable PPB Pty Ltd's detectORE™ patented low-level gold by pXRF technology in addition to traditional mapping and prospecting programs. These programs will focus on developing new targets on the Roma project and further defining high potential historical prospects from the target pipeline compilation on the Hood River concession and Ulu lease.

Blue Star Gold's Projects

The Company's properties are located approximately 525 km NNE of Yellowknife, NT in the Kitikmeot region of western Nunavut. Kugluktuk is approximately 210 km to the NW. The Roma property lies approximately 30 km north of the Ulu-Hood River property. The total area of Blue Star's projects cover +45 km of the highly prospective and underexplored High Lake Greenstone Belt.

The Ulu lease and the contiguous Hood River property together encompass greater than 12,000 hectares of high potential exploration ground. The recent acquisition of the prospective and underexplored Roma property that lies approximately 30 km north increased the Company's landholdings by more than 14,000 hectares in the High Lake Greenstone Belt.

The Ulu lease hosts the advanced stage Flood Zone gold deposit, where a significant high-grade gold resource has been outlined. Several additional gold prospects (including, but not limited to, Zebra, Contact, Central, Axis, and Gnu) are spatially related to the axis of the ~5 km long Ulu Fold, which extends from the Ulu lease onto the northern part of the Hood River property and culminates at the North Fold Nose Zone. The recent expansion of the Hood River concession added several new target zones south of the Flood Zone gold deposit. The eastern side of the Hood River property is contiguous to the Ulu lease, and hosts over twenty known gold showings. The Hood River prospects have the same deformation history (including tight folding) as well as similar mineralization styles (acicular arsenopyrite and polymetallic quartz veins) and stratigraphic sequences as the Flood Zone. One of the most prospective target areas on the eastern Hood River property is the 4 km long Crown-Pro trend which has seen only limited drilling.

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 2.0 km. In 1991, BHP drilled ten shallow holes totalling 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.

Drill holes reported from 2021 had core samples cut by core saw with one half of the core retained and the other half sent for analysis. Samples were prepared by ALS Yellowknife-Geochemistry and analyzed at ALS Global, North Vancouver. Gold analysis was by fire assay using ALS code Au-AA26 and multielement analysis by code ME-MS61. Control samples include a crush duplicate every twenty samples; certified reference material was inserted once every ten samples. Reported assay intervals are uncapped, use a minimum 1 g/t gold assay cut off with the inclusion of up to 2 m of material below cut-off. True widths for all but the Flood Zone are not known due to lack of drilling and may range from 50% to 95% of drilled lengths. Historical intercepts reported from the Roma project have not yet been verified.

Based in Langley, B.C., Precision has the expertise and personnel to plan and execute a successful geophysical program. Precision has flown over five hundred surveys around the world since 2007 using innovative geophysical technologies.

Based in Yellowknife, NT, NorthTech is a family-owned and operated industrial drilling contractor specializing in providing reliable and professional diamond drilling services in the North. NorthTech has completed 150,000 meters of drilling since their inception in 2006.

About Portable PPB Pty Ltd. and detectORE™

Portable PPB is a Canning Vale, West Australia based company focused on bringing disruptive technology into the gold industry, globally. They bring a wealth of experience and a track record of delivering novel solutions to drive exploration, discovery, and mining. Blue Star has committed, as a research sponsor, to be an early user in Canada of Portable PPB Pty Ltd's detectORE™ patented low-level gold by pXRF technology. It enables rapid remote on-site gold results to ~20 ppb Au levels daily, instead of weeks to many months for each batch.

About Blue Star Gold Corp.

For further information, please contact: Grant Ewing, P. Geo., CEO Telephone: +1 778-379-1433 Email: info@bluestargold.ca

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS AND INFORMATION

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/126444

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Blue Star Gold Corp. (TSXV: BAU) (FSE: 5WP0) (OTCQB: BAUFF) ("Blue Star" or the "Company") announces that, subject to the approval of the TSX Venture Exchange (the "Exchange"), it intends to complete a non-brokered private placement of up to $6,000,000. Pursuant to the offering, the Company will issue common shares (each a "Share") at a price of $0.65 per Share, flow-through common shares (each a "FT Share") at a price of $0.73 per FT Share, and charitable flow-through common shares (each a "Charitable FT Share") at a price of $0.91 per Charitable FT Share, in any combination, to raise up to $6,000,000 in gross proceeds (together, the "Private Placement").

The Charitable FT Shares qualify as "flow through shares" within the meaning of subsection 66(15) of the Income Tax Act (Canada) to be sold on a charitable flow-through basis.

Over 75% of the Private Placement has already been arranged based on firm expressions of interest received by the Company.

The Shares, FT Shares and Charitable FT Shares 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. The Company intends to use the net proceeds from the FT Share and Charitable FT Share private placement to incur Canadian exploration expenses (the "Qualifying Expenditures") on its projects in Nunavut prior to December 31, 2023. The Company will renounce the Qualifying Expenditures to subscribers of FT Shares for the fiscal year ended December 31, 2022.

About Blue Star Gold Corp.

Blue Star is a gold company focused on exploration and development within Nunavut, Canada. Blue Stars landholdings total approximately 270 square kilometres of highly prospective and underexplored mineral properties in the High Lake Greenstone Belt, Nunavut. The Company owns the Ulu Gold Property lease, an advanced gold project, the highly prospective Hood River Property that is contiguous to the Ulu mining lease, and the Roma Project. A significant high-grade gold resource exists at the Flood Zone deposit (Ulu lease), and numerous high-grade gold occurrences and priority targets occur throughout the Ulu, Hood River and Roma Projects.

For information on the Company and its projects, please visit our website: www.bluestargold.ca.

For further information, please contact: Grant Ewing, P. Geo., CEO Telephone: +1 778-379-1433 Email: info@bluestargold.ca

The securities referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. registration or an applicable exemption from the U.S. registration requirements.

NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/126316

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Blue Star Gold Corp. (TSXV: BAU) (FSE: 5WP0) (OTCQB: BAUFF) ("Blue Star" or the "Company") announces that it has granted incentive stock options to purchase a total of 700,000 common shares at an exercise price of $0.50 per common share for a period of 5 years to certain directors, officers, consultants and employees in accordance with the provisions of its stock option plan.

About Blue Star Gold Corp.

Blue Star is a gold company focused on exploration and development within Nunavut, Canada. Blue Stars landholdings total approximately 270 square kilometres of highly prospective and underexplored mineral properties in the High Lake Greenstone Belt, Nunavut. The Company owns the Ulu Gold Property lease, an advanced gold project, the highly prospective Hood River Property that is contiguous to the Ulu mining lease, and the Roma Project. A significant high-grade gold resource exists at the Flood Zone deposit (Ulu lease), and numerous high-grade gold occurrences and priority targets occur throughout the Ulu, Hood River and Roma Projects.

Blue Star is listed on the TSX Venture Exchange under the symbol: BAU, the U.S. OTC Exchange under the symbol: BAUFF, and on the Frankfurt Exchange under the symbol: 5WP0. For information on the Company and its projects, please visit our website: www.bluestargold.ca.

For further information, please contact: Grant Ewing, P. Geo., CEO Telephone: +1 778-379-1433 Email: info@bluestargold.ca

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/118553

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Walker River Resources Corp. (" Walker " or the " Company ") (TSX-V: " WRR ") announces a consolidation of its common shares on a six (6) for one (1) basis (the " Share Consolidation "). The Company currently has 205,961,178 common shares issued and outstanding. Following the Share Consolidation, the Company expects to have 34,326,863 common shares issued and outstanding.

The TSX Venture Exchange (" TSXV ") has accepted the Share Consolidation and confirmed that the Company's common shares will commence trading, effective market open on July 25, 2022, on the TSX.V on a post-consolidated basis. The Company's name and trading symbol remain unchanged.

On the effective date, the Company's new CUSIP number will be 931778203 and ISIN will be CA9317782030. Letters of transmittal describing the process by which shareholders may obtain new share certificates or Direct Registration System (DRS) advices representing their consolidated common shares will be mailed shortly to registered shareholders. Shareholders who hold their shares through a broker or other intermediary and do not have shares registered in their name will not be required to complete a letter of transmittal. The letter of transmittal will be filed under the Company's profile on SEDAR at www.sedar.com .

Pursuant to the provisions of the Business Corporations Act (British Columbia) and the Articles of the Company, the Share Consolidation was approved by way of resolutions passed by the board of directors of the Company.

ON BEHALF OF THE BOARD OF DIRECTORS

" Michel David " ________________________ Michel David , Chief Executive Officer and Director

FOR FURTHER INFORMATION PLEASE CONTACT:

Walker River Resources Corp. Tel: 819 874-0030 Fax: 819 825-1199 Email: info@wrrgold.com Website: www.wrrgold. com

Neither TSX Venture Exchange Nor Its Regulation Service Provider (As That Term Is Defined In The Policies Of The TSX Venture Exchange) Accepts Responsibility For The Adequacy Or Accuracy Of This News Release.

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Fabled Silver Gold Corp. ("Fabled" or the "Company") (TSXV:FCO; OTCQB:FBSGF, and FSE:7NQ) is pleased to announced that as of July 21, 2022 it closed the first tranche (the "First Tranche) of a non-brokered private placement previously announced on June 23, 2022 (the "Offering") and has issued 5,940,000 units (the "Units") at a price of C$0.07 per Unit for gross proceeds of C$415,800. Each Unit is comprised of one common share (each, a "Unit Share") and one common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder thereof to purchase one common share (each, a "Warrant Share") at a price of C$0.12 for a period of 24 months following the closing date of the Offering

The net proceeds from the sale of Units will be used for general working capital and exploration activities on the Company's Santa Maria property in Parral, Mexico.

A Finder's Fee of $23,394 was paid to Canaccord Genuity Corp. pursuant to the closing of the First Tranche.

Fabled may close one or more additional tranches of this same Offering for additional proceeds. A subsequent press release will be issued if any such closing occurs.

The closing of the Offering is subject to final acceptance of the TSX Venture Exchange. The Unit Shares, Warrant Shares will be subject to a hold period until November 21, 2022, which is four months and one day follow closing of the First Tranche in accordance with applicable securities laws.

None of the securities sold in connection with the Offering will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

In addition the Company announces that, pursuant to its advertising agreement with Agora Internet Relations Corp. ("Agora"), dated November 15, 2021, and described in the Company's news release dated November 29, 2021, it will issue 211,875 Shares to Agora at a price per share of $0.08 in payment of $15,000 + HST for the period ended May 15, 2022.

The common shares issued to Agora are subject to a hold period until November 21, 2022, which is four months and one day following the issuance thereof in accordance with applicable securities laws.

About Fabled Silver Gold Corp.

Fabled is focused on acquiring, exploring and operating properties that yield near-term metal production. The Company has an experienced management team with multiple years of involvement in mining and exploration in Mexico. The Company's mandate is to focus on acquiring precious metal properties in Mexico with blue-sky exploration potential.

The Company has entered into an agreement with Golden Minerals Company (NYSE American and TSX: AUMN) to acquire the Santa Maria Property, a high-grade silver-gold property situated in the center of the Mexican epithermal silver-gold belt. The belt has been recognized as a significant metallogenic province, which has reportedly produced more silver than any other equivalent area in the world.

Mr. Peter J. Hawley, President and C.E.O. Fabled Silver Gold Corp. Phone: (819) 316-0919 peter@fabledfco.com

For further information please contact: info@fabledfco.com

Neither the TSX Venture Exchange nor its Regulations Service Provider (as that term is defined in the policies of the TSX Venture Exchange) does accept responsibility for the adequacy or accuracy of this news release.

Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, that the Company's financial condition and development plans do not change as a result of unforeseen events and that the Company obtains any required regulatory approvals.

Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Some of the risks and other factors that could cause results to differ materially from those expressed in the forward-looking statements include, but are not limited to: impacts from the coronavirus or other epidemics, general economic conditions in Canada, the United States and globally; industry conditions, including fluctuations in commodity prices; governmental regulation of the mining industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; competition for and/or inability to retain drilling rigs and other services; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; volatility in market prices for commodities; liabilities inherent in mining operations; changes in tax laws and incentive programs relating to the mining industry; as well as the other risks and uncertainties applicable to the Company as set forth in the Company's continuous disclosure filings filed under the Company's profile at www.sedar.com. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.

SOURCE:Fabled Silver Gold Corp.

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Nevada Sunrise Gold Corp. ("Nevada Sunrise", or the "Company") (TSXV: NEV) (OTC: NVSGF) is pleased to announce that it has submitted a permit amendment to the U.S. Bureau of Land Management (the "BLM") for the Company's 100%-owned Gemini Lithium Project ("Gemini"), located in the Lida Valley basin in Esmeralda County, Nevada . The permit amendment seeks to expand the number of permitted borehole locations to twelve (12), which includes the two successful boreholes drilled during the Company's maiden drilling program in March and April 2022 (see Nevada Sunrise news releases dated May 18, 2022 and June 6, 2022 ).

In conjunction with the anticipated expansion of the permitted target areas at Gemini, and through its wholly-owned Nevada subsidiary company, Intor Resources Corporation, Nevada Sunrise has initiated the distribution of tenders to U.S.-based drilling companies with the goal of securing a drilling contractor by August 1, 2022 .

Ten new drill sites are proposed by Nevada Sunrise, locations which are designed to test the conductive zones detected in ground geophysical time domain electromagnetic ("TDEM") surveys carried out by the Company in 2016 and 2022 (see Nevada Sunrise news release dated June 11, 2022 ). The objective of the Phase 2 drilling at Gemini is twofold: (1) to delineate shallow conductive horizons that could represent lithium-bearing clays, and (2) drilling through the clay layers to further investigate the lithium-bearing brines intersected in boreholes GEM22-01 and GEM22-02.

Gemini consists of 586 unpatented placer and lode claims located in the western Lida Valley, Esmeralda County , approximately 6 miles (10 kilometres) east of the town of Lida, Nevada . In the spring of 2022, Nevada Sunrise expanded the size of the Project to a land position covering approximately 5,700 acres (2,331 hectares). Gemini is situated adjacent to the Gold Point Solar Energy Zone, a BLM land reserve set aside for solar and wind power generation projects until 2033.

The Lida Valley is a flat, arid basin with a similar geological setting to the better-known Clayton Valley basin where Albermarle Corporation operates the Silver Peak lithium brine mine, which has operated continuously since 1966. Exploration at Gemini is complemented by the Company's 80.09 acre-feet/year water right, a pre-requisite for the exploration and development of lithium brine projects in Nevada . Under State law, water cannot be pumped from a subterranean source without a valid water permit.

Nevada Sunrise drilled two reverse circulation ("RC") boreholes for a total of 2,020 feet (615.85 metres) in its maiden drilling program at Gemini in March and April 2022 . The initial results represent a new discovery of lithium-bearing sediments and lithium-in-water in the western Lida Valley, which has not been historically drill tested for lithium mineralization. The analytical results from boreholes GEM22-01 and GEM22-02, located 0.69 miles (1.1 kilometres) apart suggest that the extent of lithium-bearing clay layers and waters at Gemini may be widespread.

Water samples from borehole GEM-22-01 averaged 327.7 milligrams per litre ("mg/L") lithium over 220 feet (67.07 metres) from 600 to 820 feet (182.93 to 250 metres) with a peak value of 519 mg/L lithium . Water samples from borehole GEM22-02 returned an average of 116.28 mg/L lithium over 460 feet (140.24 metres) from 660 to 1,120 feet (201.22 to 341.46 metres) with a peak value of 286.0 mg/L lithium.

For further information on Gemini, including location maps and photos click here

The results of geochemical analysis on sediment samples described in this news release were shipped in March and April 2022 to American Assay Laboratories and ALS Group USA ("ALS") and were analyzed utilizing a multi-element ICP-MS method. Specifically, the analytical method involves aqua regia digestion of the sample followed by the inductively coupled plasma (ICP) technique to ionize the sample, and spectrometry to determine elemental concentrations. Duplicates, field blanks, and certified reference standards were inserted at regular intervals in the sample stream to ensure accuracy of the analytical method.

Water parameters including TDS, conductivity, temperature, and pH values were obtained in the field by direct measurement with a handheld Hanna Model 98194 Multiparameter Meter, which meets Good Laboratory Practice (as proscribed by the Organization for Economic Cooperation and Development) for calibration and measurement. All depth measurements reported, including sample and interval widths are down-hole. As holes are oriented vertical and geologic stratigraphy is primarily horizontal to sub-horizontal, downhole measurements are assumed to be close to true thickness.

Groundwater samples were collected at 20-foot (6.1-metre) intervals and sent to Western Environmental Testing Laboratory in Reno , Nevada under project chain-of-custody protocols for analysis. Industry standard methods for examination of water were employed by the laboratory. General chemistry testing included analysis for specific gravity, total hardness, total alkalinity, bicarbonate, carbonate, hydroxide, total dissolved solids (TDS) and electrical conductivity. Anions (chloride, sulfate) were analyzed by ion chromatography. Trace metals (lithium, magnesium, boron, calcium, potassium, strontium, and sodium) were analyzed by inductively coupled plasma-optical emission spectroscopy (ICP-OES) methods.

The scientific and technical information contained in this news release has been reviewed and approved by Robert M. Allender, Jr. , CPG, RG, SME and a Qualified Person for Nevada Sunrise as defined in National Instrument 43-101 – Standards of Disclosure for Mineral Projects .

Nevada Sunrise is a junior mineral exploration company with a strong technical team based in Vancouver, BC , Canada , that holds interests in gold, copper, cobalt and lithium exploration projects located in the State of Nevada, USA .

The Company's key gold asset is a 20.01% interest at the Kinsley Mountain Gold Project ("Kinsley Mountain") near Wendover, NV. Kinsley Mountain is a joint venture with Copaur Minerals Inc. ("Copaur", TSXV: CPAU), following the completion of a plan of arrangement between Copaur and the Company's former joint venture partner, New Placer Dome Gold Corp. Kinsley Mountain is a Carlin-style gold project hosting a National Instrument 43-101 compliant gold resource consisting of 418,000 indicated ounces of gold grading 2.63 g/t Au (4.95 million tonnes), and 117,000 inferred ounces of gold averaging 1.51 g/t Au (2.44 million tonnes), at cut-off grades ranging from 0.2 to 2.0 g/t Au 1 .

Technical Report on the Kinsley Project, Elko County, Nevada, U.S.A., dated June 21, 2021 with an effective date of May 5, 2021 and prepared by Michael M. Gustin, Ph.D., and Gary L. Simmons, MMSA and filed under New Placer Dome Gold Corp.'s Issuer Profile on SEDAR ( www.sedar.com ).

Nevada Sunrise has right to earn a 100% interest in the Coronado VMS Project, located approximately 48 kilometers (30 miles) southeast of Winnemucca, NV. The Company owns a 15% interest in the historic Lovelock Cobalt Mine and the Treasure Box copper properties, each located approximately 150 kilometers (100 miles) east of Reno, NV , with Global Energy Metals Corp. (TSXV: GEMC) holding an 85% participating interest.

Nevada Sunrise owns 100% interests in the Gemini and Jackson Wash lithium projects, both of which are located in Esmeralda County, NV. The Company owns Nevada water right Permit 86863, located in the Lida Valley basin, near Lida, NV.

This release may contain forward – looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur and include disclosure of anticipated exploration activities. Although the Company believes the expectations expressed in such forward – looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward – looking statements are based on the beliefs, estimates and opinions of the Company's management on the date such statements were made. The Company expressly disclaims any intention or obligation to update or revise any forward – looking statements whether as a result of new information, future events or otherwise.

Such factors include, among others, risks related to the Company's 2022 exploration plans at the Gemini Lithium Project; reliance on technical information provided by third parties on any of our exploration properties; changes in project parameters as plans continue to be refined; current economic conditions; future prices of commodities; possible variations in grade or recovery rates; failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; labor disputes and other risks of the mining industry; delays due to pandemic; delays in obtaining governmental approvals, financing or in the completion of exploration, as well as those factors discussed in the section entitled "Risk Factors" in the Company's Management Discussion and Analysis for the Three Months Ended March 31 , 2022, which is available under Company's SEDAR profile at www.sedar.com .

Although Nevada Sunrise has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Nevada Sunrise disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. Accordingly, readers should not place undue reliance on forward-looking information.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The securities of Nevada Sunrise Gold Corporation have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to the account or benefit of any U.S. person.

SOURCE Nevada Sunrise Gold Corporation

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/July2022/21/c6887.html

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Empress Royalty Corp. (TSXV:EMPR)(OTCQB:EMPYF) ("Empress" or the "Company") is pleased to report the Manica gold mine ("Manica" or the "Mine") has successfully completed its first gold pour. Empress owns a 3.375% gold royalty on the Manica gold mine located in Mozambique and operated by Mutapa Mining & Processing LDA ("MMP

"The first gold pour at Manica is very exciting and a further example of Empress delivering on our strategy as another asset reaches production within 15 months of investment. With this development, Empress will have three cash-flowing investments in the portfolio which are projected to generate significant revenue in the coming years," stated Alexandra Woodyer Sherron, CEO & President of Empress. "We have demonstrated that our structured business model of wealth creation generates significantly higher returns on investment, and these will provide a solid platform whilst we expand the portfolio with more value-focused assets."

Figure 1 - 3. Recent Photographs from Management Visit to Manica Gold Mine

Empress executed a Royalty and Purchase Agreement for the creation of a royalty on gold sales from Manica for a total investment of US$3M. Payments to Empress under the Royalty Agreement are based on 3.375% of the revenues generated from the sale of gold from the Project until a total of 95,000 oz of gold have been sold. Thereafter, the percentage shall reduce to 1.125% and shall continue into perpetuity. The Royalty is secured by a first ranking security interest in certain assets of MMP.

MMP has advised Empress that the first gold has been poured at Manica. Production was started with the introduction of low-grade ore to commission all parts of the processing circuit. MMP reported to Empress that it plans for Manica to be at full commercial production by the end of the year.

Manica is located in the Odzi-Mutare-Manica Greenstone Belt of Mozambique and comprises of several deposits on Xtract's Resources Plc mining concession licence 3990C (the "Concession") which includes four deposits being Fair Bride, Guy Fawkes, Boa Esperanza, and Dots Luck. MMP and Xtract have entered into a collaboration and profit-share arrangement whereby MMP will build, finance and operate a carbon-in-leach (CIL) plant to process ore mined from Xtract's concession.

MMP reported to Empress that it is mining and processing the oxide and transitional ore at Fair Bride and other deposits on the Concession at its 42,000 tonnes per month processing plant which utilises a CIL process.

Please see our February 22, 2021, and April 21, 2021, news releases on Empress' website (www.empressroyalty.com) for further details on the project and the Royalty.

The disclosure contained in this News Release of a scientific or technical nature for the Manica project is based on a technical report entitled "NI 43-101 Technical Report on the Fair Bride Gold Project, Mozambique" dated February 22, 2021, with an effective date of February 1, 2021 (the "Fair Bride Technical Report"). The Fair Bride Technical Report was prepared in accordance with NI 43-101 and is available on the Company's profile at www.sedar.com.

Technical information in this news release originates in the public disclosure set out above and has been reviewed and approved by Richard Mazur, P.Geo., a Qualified Person as defined in National Instrument 43-101, Standards of Disclosure for Mineral Projects.

Empress is a global royalty and streaming creation company providing investors with a diversified portfolio of gold and silver investments. Since listing in December 2020, Empress has built a portfolio of 17 precious metal investments and is actively investing in mining companies with development and production stage projects who require additional non-dilutive capital. The Company has strategic partnerships with Endeavour Financial and Terra Capital which allow Empress to not only access global investment opportunities but also bring unique mining finance expertise, deal structuring and access to capital markets. Empress is looking forward to continuously creating value for its shareholders through the proven royalty and streaming models.

ON BEHALF OF Empress Royalty Corp.

Per: Alexandra Woodyer Sherron, CEO and President

For further information, please visit our website at www.empressroyalty.com or contact Kaitlin Taylor, Investor Communications, by email at info@empressroyalty.com or by phone at +1.604.331.2080.

Neither 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. This news release contains statements about Empress' expectations regarding the economics of the Manica mine which are forward-looking in nature and, as a result, are subject to certain risks and uncertainties. Generally, forward-looking statements can be identified by the use of forward-looking terminology such as "expects", "believes", "anticipates", "aims to", "plans to" or "intends to" or variations of such words and phrases or statements that certain actions, events or results "will" occur. Although Empress believes that the expectations reflected in these forward-looking statements are reasonable, undue reliance should not be placed on them as actual results may differ materially from the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include the timing and success in MMP completing the successful commissioning of the plant and bringing the Manica project into commercial production. The forward-looking statements contained in this news release are made as of the date hereof, and Empress undertakes no obligation to update publicly or revise any forward-looking statements or information, except as required by law. Readers should not place undue reliance on forward-looking statements or information.

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Prismo Metals Inc. (CSE: PRIZ) ("Prismo" or the "Company") is pleased to announce that it has selected a drill contractor for its upcoming drilling campaign on its Palos Verdes project, which is contiguous to Vizsla Silver Corp. Panuco silver-gold project located in Sinaloa, Mexico. The drilling campaign is expected to commence on or about the first week of August subject to the receipt of the extension of the Company's permit, which is expected shortly.

The drill program is designed to test the Palos Verdes vein and a structural intersection with a second vein at depths where it is believed that potential for a large ore shoot is present, similar to the drilling accomplished by Vizsla Silver on their adjacent land package. A minimum 2,000 meter program has been contracted. Previous shallow drilling has intersected high grade mineralization with the best intercept of 2,336 g/t Ag and 8.42 g.t Au over a true width estimated at 0.8 meters within a larger mineralized interval with 1,098 g/t Ag and 3.75 g/t Au over a true width of 2.3 meters (see Prismo's news release dated September 30, 2020).

Regarding the drill program, Dr. Craig Gibson, President and CEO of the Company, said: "We are pleased to be able to commence our plan to drill holes to intersect the Palos Verdes vein at significantly deeper levels than the previous drilling. We will be able to test the vein several hundred meters underneath the surface exposures."

Prismo (CSE: PRIZ) is junior mining company focused on precious metal exploration in Mexico.

Contact: Craig Gibson, Chief Executive Officer and Director 1100 - 1111 Melville St., Vancouver, British Columbia V6E 3V6 craig.gibson@prismometals.com

Jason Frame, Manager of Communications jason.frame@prismometals.com

Neither the Canadian Securities Exchange accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward-Looking Statements

This news release includes certain forward-looking statements concerning the warrants exercise financing, the proceeds received from such warrant exercise financing, the use of proceeds of the warrant exercise financing, the future performance of our business, its operations and its financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. Forward-looking statements are frequently identified by such words as "may", "will", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks, the availability of financing, the potential impact of COVID-19 on the Company's exploration program and on the Company's general business, operations and financial condition, and other risks and uncertainties described in more detail in our recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/131347

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ALX Resources Corp. (TSXV: AL) (FSE: 6LLN) (OTC: ALXEF) ("ALX" or the "Company") announced today the analytical results from the inaugural drilling program at its Electra Nickel Project located 35 kilometres northwest of Thunder Bay, Ontario, Canada.

The 2022 exploration program began in mid-March 2022 and six of the eight planned holes were completed for a total of 1,155 metres drilled. Two targets remain undrilled because of warming weather conditions that exposed creeks and other wetlands, which impeded surface access. Downhole electromagnetic surveys were completed on two of the first four drill holes to better define the targeted conductors detected by ALX's 2021 airborne VTEMTM survey flown by Geotech Ltd. of Aurora, Ontario. A ground electromagnetic geophysical survey was carried out in on an undrilled target, which has provided an improved collar location for follow-up drilling.

Highlights of the 2022 Drilling Program

Nickel - The most notable nickel values occur within holes Elec22-01, Elec22-02 and Elec22-06. These results are interpreted as the peripheral geochemical expression of a much larger mineralizing system.

The highest overall concentrations in nickel over significant widths occur in the upper half of hole Elec22-02 and in hole Elec22-06 with anomalous concentrations ranging from approximately 200 ppm to a high of 2,080 ppm.

An increasing nickel content associated with increasing magnesium is common in basaltic komatiitic terranes, not only at Electra but worldwide. The corresponding increase in nickel values versus magnesium oxide ("MgO") trend is due to the presence of higher amounts of the silicate mineral olivine, which is rich in nickel and MgO.

However, classic magmatic net-textured sulphide concentrations, clasts and blebs are observed at approximately 108 metres in hole Elec22-02, and demonstrate that a magmatic sulphide-forming process was operative in this mineralizing system. This magmatic sulphide horizon also marks a notable break in the underlying upward-increasing nickel trend into a significant nickel depletion interval. The fact that the associated magmatic sulphides are so depleted in nickel suggests that nickel-enriched equivalents may occur elsewhere along strike or down dip from hole Elec22-02.

Electra 2022 Drill Hole Plan Map with Downhole EM Loops

To view an enhanced version of this graphic, please visit: https://images.newsfilecorp.com/files/3046/131344_efb2f7f4f4f5b991_001full.jpg

Zinc - Wide intervals of anomalous zinc concentrations occur in most of the drill holes. This and the fragmental nature of the volcano-clastic sequences suggest that this is potentially a zinc-rich volcanogenic massive sulphide ("VMS") environment. The following notable concentrations are:

Platinum and Palladium - The concentration of platinum and palladium is generally less than 15 parts per billion ("ppb"), which is representative for basaltic-komatiites from elsewhere in Canada and Australia. However, of note are the platinum and palladium values near the end of hole in Elec22-06 where a high of 121 ppb platinum and 33 ppb palladium was found in over 0.75 metres from 162 to 162.75 metres. The observation in the drill log for Elec22-06 of disseminated sulphides in the gabbroic host rock suggest that this drill hole should be followed up to a greater depth.

Gold - In hole Elec22-06, 0.444 grams/tonne ("g/t") gold with an accompanying value of 8.33 g/t silver over 0.68 metres was noted from 61.96 to 62.64 metres in a mudstone unit.

Copper - Two strongly anomalous copper values were found in the drill core: Elec22-05 - 2,050 ppm copper over 0.46 metres from 60.00 to 60.46 metres, and Elec22-06 - 1,375 ppm copper over 0.47 metres from 61.49 to 61.96 metres.

To view maps and photos of Electraclick here

Electra is located near Thunder Bay, Ontario, in a fertile exploration district well-linked to highways, roads and trails, and lies near a powerline and the Canadian National Railroad. The Project consists of 190 cell units totaling approximately 4,066 hectares (10,047 acres) and is prospective for nickel-copper-cobalt, platinum group elements ("PGE"), and gold. ALX has the option to earn a 100% interest in Electra after fulfilling payment obligations of cash and common shares, and exploration expenditures according to the terms of an option agreement signed in December 2020 (see ALX news release dated December 31, 2020).

The Electra magmatic-sedimentary geological and geophysical environment is similar to that of other komatiite-hosted nickel sulphide terranes in Canada and Western Australia. The challenges encountered at Electra are similar to those in other komatiitic terranes; i.e., the presence of barren sedimentary and volcanogenic conductive sulphides with high background zinc concentrations.

In the late 1990's a "nickel-sulphide" geochemical vector was developed in the Kambalda nickel camp of Western Australia. The vector was formulated not to find obvious nickel sulphide mineralization that could be observed directly in drill core, but to point out stratigraphic horizons with chemical signatures suggestive of potential enhanced nickel-copper-PGE sulphide concentrations along strike. Other than obvious nickel sulphides observed and subsequently assayed from core, potential nickel sulphide horizons can remain hidden (cryptic) and only detected by the application of proven geochemical vectors. ALX continues to evaluate the outcome of the 2022 exploration program by integrating the geological, geochemical and geophysical results in order to determine the best target areas for follow-up drilling. ALX's drilling permit at Electra is good until March 2025.

QA/QC and Analytical Methods

QA/QC following industry best practices was incorporated into the drill core sampling and included systematic insertion of quartz blanks and certified reference materials into sample batches, as well as collection of quarter-core duplicates, at a rate of approximately 10%. All drill core samples were collected as half-split core, apart from quarter-split duplicates.

All samples were shipped to ALS Global Geochemistry Analytical Lab ("ALS") for multi-element analysis. ALS is an ISO-IEC 17025:2017 and ISO 9001:2015 accredited analytical laboratory that is independent of ALX and its Qualified Person. Diamond drill core samples were analyzed using ALS's super trace multi-element 4-acid digest with ICP-MS determination for 51 elements. Gold, platinum and palladium assays were determined on a 30-gram lead bead fire assay ICP-MS finish.

The technical information in this news release has been reviewed and approved by Dr. Larry Hulbert, D.Sc., P.Geo. who is a Qualified Person in accordance with the Canadian regulatory requirements set out in National Instrument 43-101.

ALX is based in Vancouver, BC, Canada and its common shares are listed on the TSX Venture Exchange under the symbol "AL", on the Frankfurt Stock Exchange under the symbol "6LLN" and in the United States OTC market under the symbol "ALXEF".

ALX's mandate is to provide shareholders with multiple opportunities for discovery by exploring a portfolio of prospective mineral properties, which include uranium, nickel-copper-cobalt and gold projects. The Company uses the latest exploration technologies and holds interests in over 200,000 hectares of prospective lands in Saskatchewan, a stable Canadian jurisdiction that hosts the highest-grade uranium mines in the world, a producing gold mine, and production from base metals mines, both current and historical.

ALX is an active explorer with interests in a number of uranium exploration properties in northern Saskatchewan, including 100% interests in the Gibbons Creek Uranium Project,the Sabre Uranium Project and the Javelin and McKenzie Lake Uranium Projects, a 40% interest in the Black Lake Uranium Project (a joint venture with UEX Corporation and Orano Canada Inc.), and a 20% interest in the Hook-Carter Uranium Project, located within the uranium-rich Patterson Lake Corridor with Denison Mines Corp. (80% interest) as operator of exploration since 2016.

ALX also owns 100% interests in the Firebird Nickel Project (now under option to Rio Tinto Exploration Canada Inc., who can earn up to an 80% interest), the Flying VeeNickel/Gold and Sceptre Gold projects, and can earn up to an 80% interest in the Alligator Lake Gold Project, all located in northern Saskatchewan, Canada. ALX owns, or can earn, up to 100% interests in the Electra Nickel Project and the Cannon Copper Project located in historic mining districts of Ontario, Canada, the Vixen Gold Project (now under option to First Mining Gold Corp., who can earn up to a 100% interest in two stages), and in the Draco VMS Project in Norway.

For more information about the Company, please visit the ALX corporate website at www.alxresources.com or contact Roger Leschuk, Manager, Corporate Communications at: PH: 604.629.0293 or Toll-Free: 866.629.8368, or by email: rleschuk@alxresources.com

On Behalf of the Board of Directors of ALX Resources Corp.

Warren Stanyer, CEO and Chairman

Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Forward-looking statements in this news release include: ALX's preliminary exploration results from the Company's exploration activities at the Electra Nickel Project, and any plans to undertake additional exploration activities at the Electra Nickel Project. It is important to note that the Company's actual business outcomes and exploration results could differ materially from those in such forward-looking statements. Risks and uncertainties include that ALX may not be able to fully finance exploration on its exploration projects, including drilling; our initial findings at our exploration projects may prove to be unworthy of further expenditures; commodity prices may not support further exploration expenditures; exploration programs may be delayed or changed due to any delays experienced in consultation and engagement activities with First Nations and Metis communities and the results of such consultations;and economic, competitive, governmental, societal, public health, environmental and technological factors may affect the Company's operations, markets, products and share price. Even if we explore and develop our projects, and even if nickel, uranium, gold or other metals or minerals are discovered in quantity, ALX's projects may not be commercially viable. Additional risk factors are discussed in the Company's Management Discussion and Analysis for the Year Ended March 31, 2022, which is available under the Company's SEDAR profile at www.sedar.com. Except as required by law, we will not update these forward-looking statement risk factors.

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

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/131344

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