Blue Star Gold Announces Closing of First Tranche of Non-Brokered Private Placement

Core Points - Blue Star Gold Corp. has closed the first tranche of its non-brokered private placement, raising proceeds of $1,250,000 through the issuance of 5,000,000 flow-through common shares at $0.25 per share [1][2] - The flow-through shares will qualify under the Income Tax Act (Canada), with expenditures renounced to investors for the taxation year ending December 31, 2025 [2] - The company will use the net proceeds for Canadian exploration expenses on its projects in Nunavut and for general working capital purposes [3] Financial Details - The company paid finder's fees totaling $75,000 cash and issued 300,000 finder's warrants, each exercisable at $0.25 until November 4, 2027 [2] - All securities issued are subject to a four-month hold period, expiring on March 5, 2026 [3] - The private placement is subject to final approval from the TSX Venture Exchange [4] Company Overview - Blue Star Gold Corp. is focused on mineral exploration and development in Nunavut, Canada, with landholdings totaling 300 square kilometers in the High Lake Greenstone Belt [5] - The company owns the Ulu Gold Project and the Roma Project, with a significant high-grade gold resource at the Flood Zone deposit [5] - The proximity of the future deep-water port at Grays Bay and the proposed Grays Bay Road corridor enhances the potential for resource growth [5]