Blue Star Confirms High-Grade Gold Mineralization on its Avalliq Property

Vancouver, British Columbia--(Newsfile Corp. - November 11, 2026) - Blue Star Gold Corp. (TSXV: BAU) (OTCQB: BAUFF) (FSE: 5WP0) ("Blue Star" or the "Company") is pleased to announce results from its 2026 channel sampling program at the MOV gold prospect, located on the Company's Avalliq property within the Roma Project in the High Lake Belt, West Kitikmeot Region of Nunavut (Figure 1).

The program was designed to validate historical gold results from the MOV vein, a high-grade gold occurrence originally discovered and trenched by Echo Bay Mines in 1984. The 2026 program confirmed high-grade gold mineralization at surface, returning multiple significant gold intervals from quartz veins and associated altered host rocks. Nine channels tested approximately 50 metres of strike length within the historically exposed 105 metre MOV vein system, with two additional channels collected from nearby exposures.

Highlights

• Channel 26AGC006 returned 1.79 metres (m) grading 24.78 grams per tonne gold (g/t Au), including 0.93 m at 44.5 g/t Au, hosted predominantly in altered mafic volcanic rocks with quartz veining and arsenopyrite mineralization.
• Channel 26AGC004 returned 2.37 m at 5.03 g/t Au, including 0.37 m at 29.2 g/t Au.
• Additional significant channel results include:
  • 1.35 m at 6.53 g/t Au in 26AGC003.
  • 2.12 m at 3.22 g/t Au in 26AGC002.
  • 2.04 m at 3.40 g/t Au in 26AGC007.
• The results confirm high-grade gold mineralization within the historical MOV vein system and identify additional exploration potential within the surrounding altered host rocks.
• The MOV prospect remains an attractive target for further exploration, with historical recommendations for drill testing yet to be implemented.

"The 2026 channel sampling results confirm the high-grade nature of the MOV gold system and provide important new geological information to guide future exploration," said Grant Ewing, CEO of Blue Star. "Of particular interest is the occurrence of significant gold grades beyond the principal quartz veins, suggesting a potentially broader mineralized system than previously recognized. These results reinforce the exploration potential of our Avalliq property and provide a strong basis for evaluating the next phase of work."

Discussion of the MOV Prospect

The MOV prospect is located within Blue Star's Avalliq property, which was added to the Company's Roma Project landholdings in 2025 (News Release June 10, 2025). The property hosts several historically identified high-grade gold occurrences, including MOV, Silver Bullet, Black Ice and Cygnet North, and is situated less than two kilometres east of the proposed Grays Bay Road corridor.

The MOV vein was discovered by Echo Bay Mines in 1984 during reconnaissance exploration of the Grumpy claims. Subsequent trenching, geological mapping, geochemical sampling and geophysical surveys outlined a gently southeast-dipping (approximately 20-25°), gold-bearing quartz vein system hosted within intrusive rocks near their contact with volcanic and sedimentary units (Fraser and Muller, 1984).

Historical trenching exposed the MOV vein over approximately 105 m of strike length, with an average reported vein thickness of 1.4 m and an average gold grade of approximately 8.5 g/t Au. Historical interpretations suggested that the vein remained open along strike to the south and down-dip to the southeast, and recommended drill testing to evaluate the mineralized system at depth (Fraser and Muller, 1984). No drilling of the MOV vein has been documented in the historical records reviewed.

The 2026 field program revisited the historical trench exposures to collect new channel samples and improve the geological understanding of the mineralization. Nine channels (26AGC001-009) were collected across approximately 50 m of strike length within the historically exposed 105 m MOV vein system. Two additional channels (26AGC010-011) were collected from separate exposures approximately 100 m east of the main showing (Figure 2). A total of 11 channels, comprising 34 individual samples, were collected during the program (Figures 3 & 4).

The channel sampling confirmed significant gold mineralization within quartz veins, altered mafic volcanic rocks and locally within intrusive host rocks. Gold mineralization is associated with quartz veining and variable concentrations of arsenopyrite, pyrite, pyrrhotite and minor chalcopyrite.

The strongest interval was returned from channel 26AGC006, which assayed 24.78 g/t Au over 1.79 m, including 44.5 g/t Au over 0.93 m. The high-grade interval consists predominantly of altered mafic volcanic rocks containing approximately 10% quartz veining, blocky arsenopyrite and disseminated pyrrhotite.

Channel 26AGC004 returned 5.03 g/t Au over 2.37 m, including 29.2 g/t Au over 0.37 m from a quartz vein containing pyrrhotite-rich septa with minor pyrite and chalcopyrite.

The results indicate that gold mineralization is not confined to massive quartz veins and occurs within altered and sulphide-bearing host rocks, potentially representing mineralized vein selvages. Understanding the relationship between quartz veining, alteration and sulphide mineralization will be important in evaluating the geometry and potential extensions of the mineralized system.

Table 1: Select 2026 MOV Channel Sampling Results.

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N.B. Gold grades are length-weighted averages. Intervals are channel lengths and do not necessarily represent true widths. Where composite intervals contain unsampled gaps, these are identified in the table notes and excluded from the reported length-weighted grade calculations.

Next Steps

The 2026 channel sampling results will be incorporated into Blue Star's geological interpretation of the MOV prospect, together with historical trenching, geochemical and geological information.

Future work may include additional detailed mapping and sampling to evaluate the distribution and structural controls of gold mineralization within quartz veins and their potential mineralized selvages, including portions of the historical MOV vein exposure not covered by the 2026 sampling program. The Company will also evaluate the potential for extensions of the mineralized system along strike to the south and down-dip to the southeast. The relatively shallow dip of the MOV vein presents an opportunity for an efficient initial drill program, allowing significant strike length to be tested with relatively short drill holes.

Multi-element analysis also identified locally elevated tungsten (W) values, with two samples returning results at the laboratory's upper reporting limit of 10,000 parts per million (ppm) W. Over-limit analyses have been requested to determine the actual tungsten concentrations, and the Company is investigating these results to assess their potential geological significance. The results support continued evaluation of MOV as a high-priority gold exploration target within the Company's Avalliq property.

Figure 1: Location Map Showing Blue Star's Landholdings.

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Figure 2:Distribution of Historical Trenches, Mapped Veining and 2026 Channel Locations from the MOV Vein Area on Blue Star's Avalliq Property. Sites (a) and (b) are Expanded in Figure 3.

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Figure 3:Detail of Blue Star Gold's 2026 Channel Sampling on the Avalliq Property.

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Figure 4: Channels 26AGC004 and 26AGC007 Detailed Images with Annotations.

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Sampling, Assaying & QA/QC

Channel samples were collected from exposed bedrock using a portable mechanical rock saw equipped with a diamond blade. Samples were obtained by cutting two continuous, parallel lines and removing the sample using a hammer and chisel. Where terrain permitted, channels were oriented perpendicular to the principal strike of the quartz veining.

Reported channel lengths do not necessarily represent true widths of mineralization. Sampled intervals may be discontinuous due to local exposure or terrain restrictions and do not necessarily represent the full width of the mineralized zones. Where applicable, unsampled gaps are identified in the accompanying table notes.

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). 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 reference standards and duplicates into the sample stream.

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.

References
Fraser, S. and Muller, F. (1984). Geological Report of the Grumpy Claims. Echo Bay Mines Ltd. Nunavut mineral exploration assessment report, AR081982.

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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