Dr. Georg Josef Pollert Announces an Increase in His Ownership of the Common Shares of Blue Star Gold Corp.

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BERLIN, June 23, 2022 (GLOBE NEWSWIRE) — Dr. Georg Josef Pollert (the “Acquiror”), a director of Blue Star Gold Corp. (the “Company”) announces that, on June 23, 2022, he has acquired ownership of 3,077,000 common shares in the capital of the Company (“Shares”) at a price of $0.65 per Share. The Shares were issued in connection with the closing of a non-brokered private placement carried out by the Company (the “Private Placement”).

Prior to the acquisition of Shares under the Private Placement, the Acquiror held 24,284,961 Shares, 200,000 Stock Options and 1,250,000 Share Purchase Warrants and the Acquiror’s non-diluted shareholdings represented approximately 45.7% of the Company’s issued and outstanding Shares.

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As a result of the acquisition of Shares under the Private Placement, the Acquiror now holds 27,361,961 Shares, 200,000 Options and 1,250,000 Warrants. The Acquiror’s non-diluted shareholdings now represent approximately 45.5% of the Company’s issued and outstanding Shares.

Thus on a partially diluted basis (i.e., assuming full exercise of all Warrants and Options and no other issuances of Shares by the Company), the Acquiror would hold a total of 28,811,961 Shares, representing approximately 46.7% of the Company’s issued and outstanding Shares.

To obtain a copy of the early warning report filed by the Acquiror, please contact the Acquiror at 011.49.172.946.1380 or refer to the Company’s SEDAR profile at www.sedar.com.