Blue Star Extends Ataani Polymetallic System and Advances Critical Metal Targets in the High Lake Greenstone Belt
Vancouver, British Columbia--(Newsfile Corp. - October 15, 2026) - Blue Star Gold Corp. (TSXV: BAU) (OTCQB: BAUFF) (FSE: 5WP0) ("Blue Star" or the "Company")is pleased to report results from its 2026 critical metals exploration program at the Roma Project in the High Lake Greenstone Belt, West Kitikmeot Region of Nunavut (Figure 1).
The program included follow-up drilling at the Ataani polymetallic volcanogenic massive sulphide ("VMS") discovery (News Release July 24, 2024) and first-pass drilling of four regional critical metal targets at Stu, South, Cairo and Juno. The targets were developed through the integration of geological, geochemical and geophysical datasets, including results from the Company's 2025 SkyTEM airborne electromagnetic ("EM") survey, and were further evaluated by ground EM surveys prior to drilling. Downhole electromagnetic ("DHEM") surveys were completed following drilling to further evaluate the target areas.
Highlights
Ataani drilling extended the known distribution of the polymetallic VMS system, with all three drillholes in 2026 intersecting sulphide mineralization.
26RHD003, drilled approximately 50 metres ("m") south of the 2024 discovery drill hole intersected 27.17 m grading 1.19 g/t gold equivalent ("AuEq"*) including 2.82 m grading 3.66 g/t AuEq.
A separate interval within 26RHD003 returned 0.80 m grading 5.46 g/t Au, 1.28% Cu and 60.2 g/t Ag or 8.16 g/t AuEq.
26RHD002, approximately 200 m south of the main 2024 drill area, intersected 18.29 m grading 25.01 g/t Ag, and a second 20.71 m interval grading 1.42% Zn, including 6.0 m grading 3.28% Zn.
26RHD001 intersected 5.3 m of massive to semi-massive sulphide approximately 36 m up-dip of the 2024 discovery, confirming continuity of the sulphide horizon.
Regional drilling tested Stu, South, Cairo and Juno. DHEM at South identified an additional strong off-hole conductor that remains untested.
Continued review and assessment of historical drilling, geological and geophysical data highlight the potential for the Sand Lake copper prospect to become a future mineral resource.
Grant Ewing, CEO of Blue Star, stated: "The 2026 program advanced our understanding of the Ataani VMS system. The broad polymetallic, precious metal enriched interval in 26RHD003, together with the silver and zinc-rich mineralization intersected approximately 150 m to the south in 26RHD002, highlight the distribution of mineralization within this emerging VMS system and the potential for additional discoveries along strike and at depth. Ataani remains an important exploration target, and together with our regional targets and the Sand Lake copper prospect, underscores the critical metals exploration potential of Blue Star's landholdings in the High Lake Greenstone Belt."
Ataani VMS Prospect
Three holes totalling 764 m were completed at Ataani to follow up the Company's 2024 discovery of polymetallic VMS mineralization. The 2024 discovery drilling returned 17.1 m grading 0.42% Cu, 1.43% Zn, 0.13 g/t Au and 9.19 g/t Ag, including 2.0 m grading 10.95% Zn and 3.5 m grading 1.46% Cu (News Release Sept 5, 2024).
Hole 26RHD001 tested approximately 36 m up-dip of the 2024 discovery and intersected 5.3 m of massive to semi-massive pyrite-pyrrhotite sulphide from 195.00 to 200.30 m. The interval confirms continuity of the sulphide horizon (Figure 2).
Hole 26RHD003 was drilled approximately 50 m south of the 2024 drilling and intersected 27.17 m of polymetallic sulphide mineralization from 195.83 to 223.00 m grading 1.19 g/t AuEq* comprising 0.33 g/t Au, 0.44% Cu, 0.18% Zn and 14.98 g/t Ag. The broader interval includes 2.82 m grading 3.66 g/t AuEq* or 0.19 g/t Au, 1.87% Cu, 1.37% Zn and 39.58 g/t Ag. A 0.80 m interval at 208.9 m downhole returned 5.46 g/t Au, 1.28% Cu, 0.02% Zn and 60.2 g/t Ag. The occurrence of elevated gold and silver together with copper and zinc mineralization highlights the precious metal-enriched character of the Ataani VMS system (Table 1, Figure 2).
Hole 26RHD002, collared approximately 200 m south of 26RHD001, intersected multiple sulphide horizons within felsic volcanic rocks. An upper interval returned 18.29 m grading 25.01 g/t Ag from 204.00 to 222.29 m. A lower zinc-rich zone returned 20.71 m grading 1.42% Zn from 222.29 to 243.00 m, including 11.0 m grading 2.12% Zn which includes 6.0 m grading 3.28% Zn from 236.00 to 242.00 m (Table 1, Figure 2).
The 2026 drilling expanded the known distribution of base metal mineralization within the approximately 300+ m long Ataani mineralized trend. The zinc-rich intersection in 26RHD002, approximately 200 m south of the main 2024 discovery section, together with an interpreted widening of the prospective felsic volcanic package, highlights the potential for additional polymetallic mineralization along strike and at depth (Figure 2).
Regional Critical Metal Targets
Four regional critical metals targets at Stu, South, Cairo and Juno were drill tested during the 2026 program, for a total of 996 m (Figure 1). The targets were developed through the integration of historical and modern geological, geochemical and geophysical datasets, including the 2025 SkyTEM survey, and all four target areas were evaluated by ground EM prior to drilling (News release June 10, 2026). The program was designed to evaluate the broader VMS potential of the Roma Project and High Lake Greenstone Belt.
At South, hole 26RZD005 intersected altered volcanic rocks containing stringer to semi-massive sulphides. A 2.91 m interval returned 0.39% Zn (Table 1). Subsequent DHEM confirmed an in-hole conductor corresponding with the targeted EM response and identified an additional strong off-hole conductor that remains untested.
At Stu, hole 26RSD004 intersected prospective felsic volcanic stratigraphy and localized sulphide mineralization. DHEM responses are being integrated with the surface EM and geological datasets to refine the target model.
At Cairo, hole 26RCD006 tested beneath an area of known surface copper mineralization and strong sodium depletion, a characteristic of hydrothermal alteration commonly associated with VMS systems (News Release June 3, 2025). The drillhole intersected localized chalcopyrite bearing mineralization within altered felsic volcanic rocks. The strongest composite returned 2.42 m grading 0.23% Cu and 0.40% Zn, with several additional short copper-bearing intervals. No significant DHEM response was identified.
At Juno, hole 26RJD007 intersected felsic volcanic rocks containing several sulphide stringer zones with trace chalcopyrite and sphalerite. DHEM identified several conductive responses that will be further evaluated in conjunction with the geological and surface EM datasets. Assay results are pending.
Sand Lake Prospect
Blue Star continues to evaluate the Sand Lake copper prospect, located approximately 12 km north of the High Lake VMS deposits. Historical drilling returned significant copper mineralization, including 21.0 m grading 2.71% Cu, 0.17% Zn, 20.84 g/t Ag and 0.29 g/t Au (News Release April 21, 2026). Copper-rich stringer and sulphide mineralization occurs within altered volcanic rocks, with an interpreted mineralized horizon extending approximately 530 m along strike. The alteration and mineralization are consistent with a VMS-style system.
The Company is currently integrating historical UTEM, PROTEM and borehole EM datasets with geological, geochemical and drilling information from 29 historical drillholes. This work is intended to improve the geological interpretation, evaluate potential extensions of known mineralization and identify targets for future exploration.
Sand Lake represents an additional copper-rich exploration opportunity within the High Lake Greenstone Belt and is located less than one kilometre from the proposed Grays Bay Road route.
Next Steps
Results from the 2026 program will be integrated with geological, geochemical and geophysical datasets to refine critical metals and VMS targets across the Roma Project. At Ataani, future work will focus on the southern continuation of the prospective felsic volcanic package and the zinc-rich mineralization intersected in 26RHD002.
Historical geophysical datasets at Sand Lake will continue to be reviewed and incorporated into the developing exploration model. With significant historical drilling already completed, Sand Lake offers the potential to advance toward an initial mineral resource estimate through a focused program of confirmation and infill drilling. Regional work will include further evaluation of the off-hole DHEM conductor at South and continued integration of geological and geophysical data at Stu and Juno.
Table 1. 2026 Drill Results
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Intervals reported are core lengths. True widths have not been determined. AuEq values are reported for selected Ataani polymetallic intervals only.
Table 2. Drill Collar Information
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Coordinates are NAD83 / UTM Zone 12N.
Figure 1: Blue Star's Land Holdings Showing 2026 Critical Metal Exploration Areas.
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Figure 2: Plan Map Showing Ataani 2026 Drill Locations and Significant Intervals.
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Sampling, Assaying & QA/QC
Blue Star drilled NQ (47.6 mm) size core in 2026. All drill core samples are sawn in half with one half retained as core record and the other half submitted for analysis. Blue Star samples are delivered under chain of custody to ALS Geochemistry in Yellowknife, NT for sample preparation which are then forwarded to ALS Canada Inc. in North Vancouver, BC for final analysis. Samples are prepared using method PREP-31 (crushing and pulverising) and analysed using methods Au-AA26 (50-gram fire assay with atomic absorption finish) and ME-MS61 (48 element four acid digestion with ICP-MS finish). Over-limit results for non-gold elements are re-analysed using an ore-grade four-acid digestion with ICP-AES finish. The work is being conducted using industry standard procedures, including a quality assurance and quality control ("QA/QC") program consisting of the insertion of certified standards, blanks and duplicates into the sample stream.
*Metal Equivalents:
Gold Equivalents (AuEq) mentioned above for drill intersections are calculated on a basis of US$6.50/lb for Cu, US$4170.3/oz for Au, US$60.63/oz for Ag, US$1.69/lb for Zn with metallurgical recoveries assumed for all metals based on the values in the MMG 2026 Mineral Resource and Ore Reserves Statement. The assays have not been capped. AuEq (g/t) = Au (g/t) + 1.242636 × Cu (%) + 0.332719 × Zn (%) + 0.017446 × Ag (g/t). Calculations reviewed with Equivalent Grade Calculator (aaronmcm.com).
Trish Toole, P. Geo. and Exploration Manager 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 mineral exploration and development company focused on Nunavut, Canada. The Company controls over 420 square kilometres of highly prospective and underexplored mineral properties in the High Lake Greenstone Belt. Its principal assets include the Ulu Gold Project - comprised of the Ulu Mining Lease and Hood River Property, and the Roma and Auma Projects. The Ulu Mining Lease hosts the high-grade Flood Zone Gold Deposit, and the Company's broader land package contains numerous high-priority gold and critical mineral targets, providing substantial upside potential for Mineral Resource expansion.
Blue Star's projects are strategically located 40-100 km south of the proposed Grays Bay deep-water port, with the planned all-weather Grays Bay Road corridor passing very close to the Company's Projects. The Grays Bay Road and Port Project was recently referred to the Major Projects Office. Prime Minister Mark Carney created the Office last year to fast-track infrastructure projects that are deemed to be of national importance.
Blue Star is listed on the TSX Venture Exchange (BAU), the OTCQB Venture Market (BAUFF), and the Frankfurt Exchange (5WP0). Additional information is available at www.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 the 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, 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 Mineral Reserves on our mineral properties.
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Source: Blue Star Gold Corp.
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