#1BLUE STAR GOLD CORP. Investor Presentation Fall 2023#2Disclaimers BLUE STAR GOLD CORP. Cautionary statement on forward-looking information Except for the statements of historical fact contained herein, certain information presented constitutes "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995. Such forward-looking statements, including but not limited to, those with respect to potential expansion of mineralization, future plans for resource estimation and exploration and potential mining method involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievement of Blue Star Gold Corp. ("Blue Star Gold" or the "Company") to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks related to remote operations, the actual results of current exploration activities, conclusions of economic evaluations, uncertainty in the estimation of ore reserves and mineral resources, changes in project parameters as plans are refined, future prices of metals, economic and political stability in Canada and the United States, environmental risks and hazards, increased infrastructure and/or operating costs, labour and employment matters, and government regulation as well as those factors discussed in the section entitled "Risk Factors" in Blue Star Gold's Management's Discussion and Analyses of its annual financial statements, filed on www.sedar.com. Although Blue Star Gold has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Blue Star Gold disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Accordingly, readers should not place undue reliance on forward-looking statements. NI 43-101 Disclosures Certain information in this presentation is derived from the results of a mineral resource estimate of the Ulu Gold Project prepared by an independent and qualified person for the Mineral Resource Estimate, as defined by NI 43-101, is Chris MacInnis, P.Geo (#2059) from ALS-GoldSpot Ltd. A copy of the technical report for the Ulu Gold Project entitled "Technical Report on the Ulu Gold Project, Nunavut, Canada" with an effective date of February 22, 2023 is available on the Blue Star Gold website at http://www.BlueStarGold.ca or on the Blue Star Gold SEDAR profile at www.sedar.com. Darren Lindsay, P.Geo., Vice President Exploration, Blue Star Gold Corp., is the Company's designated Qualified Person within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") and has reviewed and approved the scientific and technical information in this presentation. Blue Star Gold has not independently verified any of the data from third party sources referred to in this presentation or ascertained the underlying assumptions relied upon by such sources that the information contained herein is accurate. All sources of data contained herein are from Blue Star Gold unless otherwise noted. TSX.V: BAU | OTCQB: BAUFF | FSE: 5WP0 2#3Golden Opportunity in Canada's Far North Polaris Zinc-Lead Historical Mine Resolute Kugluktuk Proposed GB Road BAU Cambridge Bay Grays Bay Ο Agnico Eagle Nunavut Yellowknife O B2 Gold Alberta Saskatchewan Manitoba CANADA USA BLUE STAR GOLD CORP. Greenland Nanisivik Zinc-Lead-Silver Historical Mine BIMC Mary River Mine, High Grade Iron Ore Mine Meadowbank Complex, ~3M oz. Au Meliadine, +3M oz. Au Iqualuit High Potential District Scale Projects Dominant landholder in highly prospective belt in Nunavut, Canada High-grade gold resource at Ulu Gold Project Rapid resource expansion potential Mining friendly jurisdiction with transparent regulatory regime B2Gold operating in Nunavut through ~$1.2B acquisition of Sabina Numerous critical mineral showings to assess Ontario Quebec 500 km TSX.V: BAU | OTCQB: BAUFF | FSE: 5WP0 3#4Nunavut: Current Projects and Infrastructure Building BLUE STAR GOLD CORP. High Potential District Scale Projects Three active producing mines 23 active precious metals projects Two active diamond projects One active base metals project Laydown Area Wharf 1 Wharf 2 Grays Bay Power, Water & Wastewater Treatment Facilities Maintenance Garage Area for Potential Third Party Use Small Craft Harbour Tent Sites and Parking Accommodation and Administrative Office Facilities Area for Commerical Offices Helicopter Pad Bulk Fuel Storage Landfill and Recycling Area Grays Bay Road and Port Development Port and road from Nunavut coast to Yellowknife New proponent appointed, ~$22 million government funding to advance to shovel-ready status Segment One is an all-weather ~230 km road adjacent to Blue Star Socio-economic benefits: lower cost of living, cheaper power, improved telecommunications, expedited resource development Further assert Inuit and Canadian sovereignty over the Northwest Passage Canada launches $1.5 billion Critical Minerals Innovation Fund oronation Ga BAU Batthun Inlet HIGH LAKE HIGH LAKE EAST TURNER LAKE SEGMENT CORE GBPR PROJECT 230 KM ELU BELT MORO PROJECT JERICHO HOOD IZOK HACKETT RIVER SEGMENT 2 LUPIN GBPR EXTENSION TO GEORGE LAKE NWT BORDER 95XOM GONDOR WISHBONE GOLD GOOSE LAKE WISHBONE LING PROPERTY Legend PHASE 1 GRAYS BAY TO JERICHO (230 KM) PHASE 2 JERICHO TO NWT BORDER (95 KM) TIBBITT TO CONWOYTO WINTER ROAD SABLE PIT EKATI PEREGONE-LAC DE GRAS CH Lockhart Lake Cann GIAVIK NUNAVUT NORTHWEST TERRITORIES HARRY WINSTON/NORTH ARROW! SPRINGBOK-LAC DE GRAS COURAGEOUS LAKE SNAP LAKE TIBBITT TO CONTWOYTO WINTER ROAD (2013) 600 KMS KENNADY NORTH GAHCHO KUE CONTEMPLATED NWT ALL-SEASON ROUTE MINERAL PROPERTIES COMMUNITIES INDIAN MOUNTAIN LAKE Source: https://sencanada.ca/content/sen/committee/421/ARCT/Briefs/2018-10-01_NRC_e.pdf TSX.V: BAU | OTCQB: BAUFF | FSE: 5WPO 4#5Northern Belts Have Favourable Geology GRAYS BAY PROPOSED PORT HIGH LAKE VMS GRAYS BAY: PROPOSED ROAD LEGEND Volcanics (Archean) ROMA HIGH LAKE BELT ULU GOLD PROJECT AGNICO EAGLE DORIS GOLD MINE HOPE BAY BELT AGNICO EAGLE MADRID OPEN PIT 180 KM AGNICO EAGLE BOSTON AU DEPOSIT. ~200 KM 50 km BACK RIVER BELT B2GOLD GEORGE B2GOLD GOOSE High Lake Belt, Blue Star < Regional shear (Kennarctic shear) Numerous mineral showings Established gold resource (Ulu) 135 km long belt Hope Bay Belt, Agnico Eagle ➤ Regional shear (HBDZ) Gold development project (Doris) Established resources (Boston, Madrid) 80 km long belt Black River Belt, B2 Gold ➤ Sedimentary basin with iron formations Multiple gold deposits Development underway, production 2025 Sediments (Archean) Deposit TSX.V: BAU | OTCQB: BAUFF | FSE: 5WPO BLUE STAR GOLD CORP. 5#6Our Projects Roma Project Agnico Permit Ulu Gold Project Hood River property Ulu mining lease 10 20 Kilometer Esrl, HERE, Garmin, (c) OpenStreetMap contributors, and the GIS user unity N BLUE STAR GOLD CORP. Ulu Gold Project 9 sq. km Ulu lease Infrastructure: airstrip, camp, roads, u/g decline Abundant drill ready resource growth targets Ulu Mineral Resource* • M&I 572,000 oz. Au (2.53 MT @ 7.02 g/t) Inferred 303,000 oz. Au (1.28 MT @ 7.34 g/t) Highly prospective, contiguous 112 sq. km Hood River property Roma Project North High Lake Greenstone Belt ➤ Multiple significant gold showings Numerous targets for future resource growth potential (Au and critical minerals) *see "Technical Report on the Ulu Gold Project, Nunavut, Canada," dated February 22, 2023. TSX.V: BAU | OTCQB: BAUFF | FSE: 5WP0 6#7Strategic Roadmap to Multimillion Ounce Resource BLUE STAR GOLD CORP. › Aggressive exploration > MRE update ➤ PEA @ 2 million oz. > Focus on Ulu Gold Project ➤ Advance permitting ➤ Further belt consolidation Assess critical minerals > GBRP new proponent ➤ ESG initiatives ➤ Resource definition, expansion > Consider development options > Roma drilling ➤ Feasibility study ➤ Large scale resource Continue to expand resource base *Grays Bay Road & Port Project TSX.V: BAU | OTCQB: BAUFF | FSE: 5WP0 7#8Ulu Gold Project Ulu Mining Lease, Flood Zone deposit Large high-grade gold resource at Flood deposit +400-metre-long shear-hosted Archean lode gold deposit Spatially associated with -5 km long Ulu fold 7z Hood River MEA North Zone North Fold Nose BLUE STAR GOLD CORP. Legend Resource Center Prospects & Showings Ulu Granite Granitoids Gabbro Sediment Basat Blue Star Gold Landholdings Extensive high quality historical dataset Mikigon ☆ Positive metallurgical studies, all zones potentially co-mingled with +90% gold recovery Dagg Ulu Mining Lease Zebra Hood River (North and South) Ulu Bouncer West Numerous additional gold zones A Gnu : (Nutaaq) Flood Zone Twilight - South Zone Penthouse * Associated with the Ulu regional fold Extends ~5 km from Flood Zone deposit Hood River (East) Target rich, highly underexplored Consistent deformation history and volcano-sedimentary stratigraphic sequences as the Flood Zone (Ulu anticline) Quarry TSX.V: BAU | OTCQB: BAUFF | FSE: 5WP0 4 Gravy ** Roma Auma ים Ulu-Hood River X 0 04750 95 1.9 Kilometers 8#9CN Tower Ulu Fold Long Section: Zone Open at Depth and Strike BLUE STAR GOLD CORP. 15 g/t Au BOUNCER 17.65 m FLOOD Ulu Fold Axis 18.0 g/t Au 22.56 m 16.0 g/t Au 17.29 m 14.9 g/t Au 7.7 m 8.31 g/t Au 2.50 m GNU 52.7 g/t Au 2.00 m 6 KM ULU FOLD TREND Looking West NORTH 177 g/t Au (Surface Sample) ZEBRA CONTACT APEX BIZEN NORTH FOLD NOSE 20.69 g/t Au 1.16 m 25.63 g/t Au 1.54 m ULU GOLD PROJECT - Mineral Resource Estimate* Measured & Indicated 2.53 MT 0 250 500m Inferred 1.28 MT 7.02 g/t Au 7.34 g/t Au 572,000 Oz Au 303,000 Oz Au *The independent and qualified person for the Mineral Resource Estimate, as defined by NI 43-101, is Chris MacInnis, P.Geo (#2059) from ALS- GoldSpot Ltd.; as reported in the amended technical report, titled "Technical Report on the Ulu Gold Project, Nunavut, Canada", February 22, 2023. TSX.V: BAU | OTCQB: BAUFF | FSE: 5WPO 9#10Priority Targets Examples Gnu/NUTAAQ Target area 1,500 m strike Polymetallic veins Highlight intercepts: ➤ 8.18 g/t Au over 4.2 m; 20.8 g/t Au over 8.15 m South Zone 500 m strike parallel to Flood deposit Flood style mineralization Historical intercepts: > 5.05 g/t Au over 2.35 m North 0 Fold Nose 0 BLUE STAR GOLD CORP. Hood River MEA Legend Resource Center Primary Target Target Pipeline Ulu Granite Granitoids Gabbro Mikigon 2023 discovery, 500 m open and undercover Possible fold hinge in sediments Outcrop grab samples of 47.1, 29.6 and 22.7 g/t Au Sediment Mikigon Basalt Blue Star Gold Landholdings Uu Mining Lease Zebra Gnu (Nutaaq) Penthouse Flood Zone 0 Twilight - South Zone TSX.V: BAU | OTCQB: BAUFF | FSE: 5WP0 Auma Roma Penthouse 1000 m x 750 m shallow syncline Historical Mag/EM/IP anomalies Highlight surface samples: Up to 12% Zn, 5% Cu, +150 g/t Ag and +25 g/t Au Ulu-Hood River 10#11Mikigon Prospect: Newly Identified Mineralization N North Fold Nose Bizen 0.125 0.25 05 Kilometers 47.1 g/t Au Mikigon Prospect BLUE STAR GOLD CORP. Legend . <0.5g1 Au 4 0.5-1.0 Au 4 1.0-3.0 Au A 3.0-5.00 Au 50-10.0 Au >10.0 g/Au Mineralization Traces Ulu Granite Sediment Auma Roma Ulu-Hood Raver Multiple High-Grade Samples at Surface Sedimentary units never previously prospected ➤ 3.5 km NE of Flood Zone deposit 500 m long trend, 4-5 m wide zone Potential extension to north inferred from geophysics > Work to date: mapping, prospecting Next Steps Detailed mapping Induced Polarisation survey Drill evaluate with oriented drill core Ulu Gran Hood River MEA up to 4 metres wide TSX.V: BAU | OTCQB: BAUFF | FSE: 5WP0 11#12Targeting Flood Zone Scale: Gnu/Nutaaq Trend High Potential for Significant Resource Increase Acicular arsenopyrite zones and polymetallic veins Recent drilling confirmed veins ➤ Structural corridor, proximal to existing infrastructure Work to date: mapping, prospecting, soil grid, IP survey, shallow drilling, detailed magnetics Zebra Next Steps ➤ Review/re-process historical IP data ➤ Expand IP survey ➤ Detailed mapping Surface sampling along target trend ➤ Drill evaluate coincident geophysical anomalies Gnu Zone (Nutaaq) Gnu Zone resource area Roma Auma Ulu-Hood River Ulu Mining Lease TSX.V: BAU | OTCQB: BAUFF | FSE: 5WP0 Flood Zone BLUE STAR GOLD CORP. Legend 4 Mineralization Traces <0.5 g/t Au Central Zone A 0.5 1.0 g/t Au A 1.0-3.0 g/t Au A 3.0-5.0 g/t Au 5.0 10.0 g/t Au >10.0 g/t Au Possible IP Anomalies. Blue Star Gold Landholdings Felsic Intrusive Ulu Granite Felsic Intrusive Gabbro Quartz Feldspar Porphyry Sediment Basalt Dbase Alone Vein Hood River MEA 0 0.125 0.25 0.5 Kilometers 12#13Targeting Flood Zone Scale: South Zone Twilight Target o Auma Legend Mineralization Traces <0.5 g/t Au 0.5 -1.0 g/t Au A 1.0-3.0 g/t Au A 3.0 - 5.0 g/t Au 5.0 10.0 g/t Au Central Zone >10.0 g/t Au Ulu Granite Felsic Intrusive Gabbro Quartz Feldspar Porphyry Sediment Basalt Diabase Blue Star Gold Landholdings Roma Flood Zone Hood River MEA Ulu-Hood River Highly Prospective Trend Parallel to Flood Zone Flood Zone style mineralisation Historical drilling tested E-W interpretation Structural corridor disrupting mafic stratigraphy BLUE STAR GOLD CORP. Surface samples include 13.88 g/t, 37.32 g/t and 18.8 g/t gold Work to date: mapping, prospecting, soil grid, IP survey, limited. shallow drilling Next Steps Compile historical information Review historical drilling Drill evaluate with oriented drill core South Zone Ulu Mining Lease 0.2 Kilometers TSX.V: BAU | OTCQB: BAUFF | FSE: 5WP0 13#14Roma: Potential District Scale Project High Lake Deposit Roma Main Roma Fold BLUE STAR GOLD CORP. Legend * Prospects & Showings Argillite Granitoids Turbidites Volcaniclastic sedimentary rocks Felsic to intermediate volcanics Basalt Diabase Blue Star Gold Landholdings Auma Ulu-Hood River Highlights > +30 km of very prospective and underexplored belt High-grade gold showings discovered by BHP in the 1990's. Geologic setting and style similar to that found at Ulu ► 2021/22 programs included geophysics, geochemical surveys and prospecting ➤ Recently acquired Auma prospect, historic intercept of 2.6 m of 15.3 g/t Au Roma Main > Limited historical drill program Extensive gold bearing quartz vein system 12.38 g/t Au over 2.31 m, never followed-up Roma Fold ➤ Multiple gold showings within 6.5 km x 2.4 km area 0 1.75 3.5 7 Kilometers L TSX.V: BAU | OTCQB: BAUFF | FSE: 5WP0 14#15Environment, Social and Governance BLUE STAR GOLD CORP. NUNAVUT MINING SYMPOSIUM 4 DSG Lo-b Environment Blue Star is committed to sustainable exploration and development, encompassing the protection of all life in the north and the natural environment – water, land, and air. We endeavour to comply with regulatory requirements and diligently apply technically proven methodologies to protect the environment throughout our exploration, and development activities. Focused with board level commitment to remediating all issues arising from previous operator's programs. Social Sustainable exploration and development requires building and maintaining trust and positive relationships with all stakeholders; our employees, shareholders, local residents and the communities in which we operate. Governance Corporate governance is vital to Blue Star's long-term success and the protection of our stakeholders' interest. We commit to maintaining the highest standards of corporate governance. TSX.V: BAU | OTCQB: BAUFF | FSE: 5WP0 15#16Management Team BLUE STAR GOLD CORP. Grant Ewing, P. Geo., Chief Executive Officer Professional geologist, +25 years in the mineral industry, former CEO of Kiska Metals (sold to AuRico), former CEO of Acadian Mining (sold to Lion Gold Atlantic Gold, then acquired by St. Barbara) Andrea Yuan, CFO Extensive experience in audit and as CFO of several publicly listed companies. CPA British Columbia, CPA New Hampshire, B. Econ. from Shanghai University of Finance and Economics Darren Lindsay, P. Geo., VP Exploration Professional geoscientist in BC, NU and NT, 25+ years in mineral exploration, lead resource development of Hope Bay Belt, Nunavut Eugene Flood, P. Geo., Technical Advisor Professional geologist, 35+ years experience, discovered Flood Zone on the Ulu property in June 1989 with BHP Board of Directors Don Collie, Non-Executive Chairman Partner at DLA Piper practising in the areas of Securities Law, Corporate Finance and Mergers & Acquisitions. Adjunct Professor, Mining Law, UBC Faculty of Law Dr. Georg Pollert, Director Co-founder and former Chairman of German biofuels producer Verbio AG, former Chairman of AGQM e.V., the German Association of Biodiesel Quality Management. Ph.D., Chemical Engineering from University of Clausthal, Germany Robert Metcalfe, Director Former senior partner with law firm Lang Michener LLP, former President & CEO of Armadale Properties, former Counsel of Armadale Group of Companies, former director of several public companies Klaus Georg Schmid, Director Corporate and investment banker, former Head of Private Banking, Sparkasse- Haslach, Germany Raffi Elmajian, Corporate Communications Manager 7 years professional experience in the resource industry working with junior mining companies Ken Yurichuk, Director Co-founder, Bobot & Yurichuk Chartered Accountants LLP. Former Director of NovaDx Ventures Corp., Emgold Mining Corp., ValGold Resources Ltd and Paragon Minerals Corp TSX.V: BAU | OTCQB: BAUFF | FSE: 5WP0 16#17Financial Information and Ownership Trading information Symbols TSX.V: BAU; OTCQB: BAUFF; FSE: 5WPO Common shares outstanding 72.3 million Diluted shares outstanding 81.4 million Share price $0.35 52-week range $0.19 - $0.56 Average daily volume ~20,000 Market capitalization *Options: 4.87 M @ $0.65 expire 12/2023 - 05/2028 *Warrants: 4.18 M @ $0.50 expire 05/2025 - 07/2025 $28 million Close alignment with shareholders through +50% insider ownership Management & Board +50% Historic Chart for Cdn:BAU by Stockwatch.com 604.687.1500 - (c) 2023 Tue Dec 5 2023 Op=0.385 Hi-0.385 Lo=0.385 CI=0.385 Vol-2,500 Year hi=0.56 lo=0.19 Cdn:BAU Volume L Dec 2022 Jan Feb Mar Apr May Jun 2023 Retail -25% Funds & HNW -25% TSX.V: BAU | OTCQB: BAUFF | FSE: 5WP0 الالالالاله BLUE STAR GOLD CORP. 0.56 0.54 0.52 0.50 0.48 0.46 0.44 0.42 0.40 0.38 0.36 0.34 0.32 0.30 0.28 0.26 0.24 0.22 0.20 600 k 400 k 200 k Aug Sep Oct Nov Ded 17#18Blue Star Gold Corp. 700 West Pender Street, Suite 507 Vancouver, BC, Canada V6C 1G8 +1.778.379.1433 Investors: [email protected] General: [email protected] www.bluestargold.ca BLUE STAR GOLD CORP. TSX.V: BAU | OTCQB: BAUFF | FSE: 5WP0 18#19Appendix BLUE STAR GOLD CORP. 19#20Valuation Company Enterprise S/O Market Cap Location Stage (MM) (C$MM) Value (C$MM) Gold Grade (g/t Au) Approx. Avg. Approx. Resource Contained (Au M oz - all categories) BLUE STAR GOLD CORP. EV/Oz ($/oz) Osisko Mining Quebec FS 376 $919 $579 10.40 7.40 $78/oz Sabina Gold and Silver Nunavut Pre Dev 559 $1,207 $1,163 6.00 9.18 $127/oz Fury Gold Mines* Canada Exploration 145 $67 $53 7.75 2.50 $21/oz Nighthawk Gold NWT Expl/ PEA 150 $52 $44 1.85 5.00 $9/oz Radisson Mining Resources Quebec Exploration 295 $56 $54 9.45 0.95 $56/oz White Gold Corp. Yukon Exploration 160 $39 $34 1.80 1.80 $19/oz Highgold Mining Alaska Exploration 88 $51 $45 7.10 1.20 $37/oz Gold Terra Resources Corp. Klondike Gold Corp. Yukon Exploration 281 $21 $17 7.00 0.54 $31/oz Yukon Exploration 180 $14 $12 0.33 0.60 $20/oz Average Average (High Grade Companies +5 g/t Au) 5.74 7.95 $44/oz $58/oz Blue Star Gold Nunavut Exploration 72 $29 $28 7.18 0.90 $31/oz > BAU currently trades at ~$31/oz compared to its Northern North American peers that trade at ~$58/oz on average. Specific to Nunavut, B2Gold recently acquired Sabina for an all-stock deal for ~$1.2B or $2.20/share. The takeout valuation implies ~$127/oz, considering Sabina's global resource of 9.18 M oz; a steep premium compared to BAU's current multiple. *Fury Gold Mines -C$55M value in Dolly Varden Silver Corp marketable securities not included TSX.V: BAU | OTCQB: BAUFF | FSE: 5WP0 20#21Core and Samples Gnu Zone -15 g/t Au Flood Zone +20 g/t Au BLUESTAR GOLD CORR TSX.V: BAU | OTCQB: BAUFF | FSE: 5WP0 Penthouse Target MUSTAR BLUE STAR GOLD CORP. Up to 12% Zn, 5% Cu, +150 g/t Ag and +25 g/t Au 21#22Canada's Critical Mineral List Semiconductors Circuits LED lights Magnesium Manganese Molybdenum Lithium Indium Nickel Niobium Helium Gallium Scandium Fluorspar Rare Earth Germanium Elements Graphite Potash Copper Jet engines Cobalt Batteries Hydrogen fuel cells Chromium Cesium BLUE STAR GOLD CORP. Healthcare EV batteries Aerospace Electronics Stainless steel Platinum group metals Tantalum Defense technologies Tellurium Wind turbines EV motors Tin Titanium Vanadium redox batteries Tungsten Alloys Catalysts Aerospace $1.5 billion Critical Minerals Infrastructure Fund launched supports clean energy & infrastructure projects that enable the development and expansion of critical minerals production Essential to economic security and threatened supply Required for transition to a low-carbon economy Sustainable and strategic minerals for our partners and allies Bismuth Uranium Antimony Vanadium Aluminum Zinc Metal alloys EVs Source: https://www.canada.ca/en/campaign/critical-minerals-in-canada/critical-minerals-an-opportunity-for-canada.html TSX.V: BAU | OTCQB: BAUFF | FSE: 5WP0 22#23Critical Minerals Potential: Ulu-Hood Target Areas Rhonda Lake Trend - Zn ➤ Stratigraphic horizon, +2,200 m, with high zinc values at either end ➤ Historical work: prospecting, mapping; ground magnetics, VLF-EM ➤ Recent highlight samples: • 6.08% Zn, 0.27% Pb, 0.15% Cu, 50 ppm Co, 31 ppm Ag, 6.04 g/t Au 5.93% Zn, 1.36% Pb, 0.09% Cu, 28 ppm Co, 70 ppm Ag, 4.53 g/t Au N North Fold Nose Hood River MEA Legend Critical Minerals Prospects Ulu Granite Granitoids Gabbro Sediment Basalt Blue Star Gold Landholdings • • 12.4% Zn, 0.79% Pb, 0.05% Cu, 122 ppm Co, 39 ppm Ag, 2.47 g/t Au 9.84% Zn, 2.03% Pb, 0.02% Cu, 2070 ppm Co, 107 ppm Ag, 0.68 g/t Au Penthouse Prospect - Zn ➤ Shallow folded sedimentary unit capped by basalt, prospective area 1000 m by 750 m > Historical work: prospecting, mapping, soil grid, ground magnetics, VLF-EM, IP ➤ Recent highlight samples: • • • 10.85% Zn, 0.38% Pb, 1.37% Cu, 198 ppm Co, 44 ppm Ag, 0.78 g/t Au 9.01% Zn, 0.10% Pb, 0.499% Cu, 71 ppm Co, 26 ppm Ag, 1.34 g/t Au 7.12% Zn, 0.57% Pb, 5.73% Cu, 45 ppm Co, 184 ppm Ag, 26.9 g/t Au 12.65% Zn, 0.21% Pb, 0.144% Cu, 67 ppm Co, 58 ppm Ag, 3.24 g/t Au Uu Mining Lease Gnu (Nutaaq) Penthouse Auma Flood Zone Quarry TSX.V: BAU | OTCQB: BAUFF | FSE: 5WP0 Rhonda 0 0.5 1 2 Kilometers BLUE STAR GOLD CORP. Roma Ulu-Hood River 23#24Critical Minerals Potential: Roma Immediately Adjacent to High Lake VMS A High Lake VMS: 14MT @ 3.8% Zn, 2.5% Cu + Au credits, MMG Previous work undertaken around discovery of High Lake VMS in 1970s Partial belt consolidation from 2001-13 Limited exploration on Roma Project Airborne surveys to south, but no ground geophysics or drilling Regional till sampling program showed indications of both base and precious metal potential Chill D HIL5 Granite Lake High Lake VMS BLUE STAR GOLD CORP. Legend * Prospects & Showings Argillite Granitoids Turbidites Volcaniclastic sedimentary rocks Felsic to intermediate volcanics Basalt Diabase Sand/Rampart Lake Griz Blue Star Gold Landholdings Pb-Zn-Cu anomalies Cu(-Zn) anomaly Roma D Auma Ulu-Hood River Sand/Rampart Lake Exploration 1976-2013; 40 drill holes (west) ■ Historical intercepts of 21 m of 2.71% Cu + 0.29 g/t Au and 15 m of 3.29% Cu, 0.11% Zn, 21 g/t Ag Griz Historical intercepts of 4.2% Zn, 2.5% Pb, 54 ppm Ag, 3.57 g/t Au HIL5: 2022 Zn-Pb anomalies 3.1% Zn, 0.23% Pb, 12 ppm Ag, 0.26 g/t Au and 1.0% Cu, 319 ppm Ag, 0.20 g/t Au Chill D 0.8% Zn, 1.48% Pb, 3.9% Cu, 295 ppm Ag and 4.1% Zn, 0.02% Pb, 1.61% Cu, 26 ppm Ag, 2 g/t Au Granite Lake: 2022 Pb-Zn-Cu anomalies Up to 5.4% Cu on trend and northwards Roma D ■ Coincident Mag high and AEM conductors ■ At sediment/volcanic contact 0 2.25 4.5 9 Kilometers All historical grab samples TSX.V: BAU | OTCQB: BAUFF | FSE: 5WP0 24#25Kugluktuk Groys Boy -525 KM Cambridge Bay AGNICO PROJECTS BLUE STAR GOLD PROJECTS Yellowknife Northwest Territories Alberta B2GOLD PROJECTS Nunavut Saskatchewan Manitoba Quebec TSX.V: BAU | OTCQB: BAUFF | FSE: 5WP0 25 BLUE STAR GOLD CORP.