AUTUMN 2019 Disclaimer Except for the statements of historical fact - - PowerPoint PPT Presentation

AUTUMN 2019

Disclaimer

2 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

• f 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. Warren Robb., P.Geo, is a Qualified Person under National Instrument 43-101 ("NI 43-101"), and has reviewed and approved the geological information contained in this presentation.

Blue Star Gold – Company Overview

3 COMPANY STATISTICS

Trading Symbol (TSX-V) BAU Common Shares Outstanding 129.6 million Options 2.2 million Warrants (incl. Broker Warrants) Share Price (Sept. 26, 2019) $0.06 52-Week Range $0.02 - $0.07 Average Daily Volume 54,000 Market Capitalization $7.78 million

BOARD OF DIRECTORS

Robert Metcalfe Chairman Judy Baker Director

• Dr. Georg Pollert

Director Klaus Schmid Director Kenneth Yurichuk Director

MANAGEMENT

Stephen Wilkinson President & CEO Peter Kuhn General Manager Zara Kanji CFO Mike Stewart Secretary Warren Robb, P.Geo. Exploration Manager Cindy Chu Controller

Blue Star Gold – Executive Summary

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• Blue Star Gold (“Blue Star Gold” or the “Company”) is an exploration stage

company focused on high-grade gold projects in Nunavut Territory in northern Canada

• The Company owns the highly prospective Hood River Property
• The Company is in the process of exercising it option to acquire the high-grade Ulu

Gold Project

• Blue Star Gold has estimated the Ulu Gold Project hosts high-grade resources of
• ver 830,000 gold (“Au”) ounces (605,000 oz – Measured and Indicated) with

excellent potential for resource growth in multiple targets

Blue Star Gold – Property Location

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• Hood and Ulu are located

approximately 530 kilometres (“km”) north-northeast of

• Yellowknife. The properties are

approximately 45 km north of the Arctic Circle.

• Principal gold zones hosted within

greenstones that are within the Archean-aged High Lake Volcanic Belt (HLVB) in the northern part of the Slave Structural Province.

• In addition, Hood and Ulu are

located directly on Phase 1 of the proposed Grays Bay Road Project.

Blue Star Gold – Properties

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Hood River Property (“Hood”)

• 100% ownership acquired in 2014
• 8,015 hectare (“ha”) exploration

concession in the High Lake greenstone belt

• 22+ identified gold targets for future

resource growth Ulu Gold Project (“Ulu”)

• Exercised option to acquire 100% interest

from Mandalay Resources Corp.

• 947 ha contiguous to Hood
• Permitted mining lease with both identified

gold resource and drill targets

• Measured & Indicated Gold Resources of

605,000 Au ounces contained in 2.5 million tonnes grading 7.5 grams per tonne (“g/t”) with a further 226,000 Inferred Gold Ounces

Blue Star Gold – Geology

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• The Hood and Ulu properties

cover folded mafic volcanic and sedimentary rocks and a leucogranite plug (the “Peanut Intrusion”).

• The 5 km-long Ulu fold runs

through the Ulu mining lease north into the Hood Property and terminates on North Fold Nose gold zone.

• North Fold Nose is our primary

drill target where BHP intersected 25.5 g/t Au over 1.54 m.

• Gold zones are high-grade and

commonly bonanza-grade.

• Very little drilling outside the

resource area of the Ulu’s Flood & Gnu gold deposits.

Blue Star Gold – Hood Property

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• Contiguous with Ulu mining lease on

north and east boundaries

• 100% ownership acquired through

purchase of Inukshuk Exploration Inc.

• Excellent potential for gold deposits in a

well-known but under-explored belt -

• nly 33 drill holes recorded
• 22 gold-bearing showings have been

identified on the Hood property

• Regional exploration programs

facilitated by proximity to the existing Ulu infrastructure

• Working agreement with the Nunavut

Tunngavik Incorporated for relationship through to production

5,000

SCALE

2,500 Metres

ULU Mining Lease

Ulu Airstrip

LEGEND Significant Under-Explored Au-Bearing Area Hood River Property NTI Held Property (Excluded from Hood River) Ulu Mining Lease Ulu Gravel Airstrip (Length 1450m)

UPDATED: October 17, 2016.

Blue Star Gold – Hood Property

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Priority Gold Targets

• North Fold Nose – the most northerly gold zone on the Ulu fold and being drilled in

the 2019 exploration program

• Very high grade surface occurrence with grab samples up to 176 g/t Au
• BHP drill hole 90VD-81 returned 6.03 m grading 7.31 g/t Au, including

25.63 g/t Au over 1.54 m at a vertical depth of 60 m

• Hole 91VD-111 was drilled underneath 90VD-81 and intersected 9.16 g/t Au over 6.88

m, including 54.94 g/t Au over 0.95 m at a vertical depth of 95 m below surface

• Crown Zones – located on the east side of the Peanut Intrusion
• Comprised of 5 separate mineralized areas, veins are up to 6 m wide & have been

mapped for approximately 800 m along strike

• Limited drilling returned results of 24.35 g/t Au over 1.0 m and 13.47g/t Au over 2.0 m
• Penthouse North and South Zones – located 3 km northeast of Crown Zones
• One sample reported from this area returned 130.1 g/t Au.
• North and South areas are separated by a distance of 3 km through a topographically

subdued valley with no outcrop.

Blue Star Gold – Ulu Project

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• Advanced exploration property - 947 ha contiguous to Hood
• Comprises renewable Mining Lease ML 3563,

expires November 18, 2038

• Measured & Indicated and Inferred gold resources
• Permanent infrastructure includes airstrip, core

storage, 1.6 km decline and development and camp site.

• Several drill-ready targets identified

Blue Star Gold – Ulu Resource

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• Blue Star Gold’s current Ulu mineral resource

was estimated by independent consultants using a 4 g/t gold cut-off value

• Flood zone open at depth and to the north
• Gnu zone only partially drill defined
• As reported in the amended technical report,

titled "Technical Report on the Ulu Gold Property, Nunavut, Canada“, dated July 10, 2015 and filed on SEDAR

Classification Tonnage Gold Grade Gold Contained Tonnes g/t Oz Flood Zone Measured 1,000,000 8.48 272,000 Indicated 1,500,000 6.90 333,000 Measured & Indicated 2,500,000 7.53 605,000 Inferred 891,000 5.57 160,000 Gnu Zone Inferred 370,000 5.57 66,000 Total - Flood and Gnu Zones Measured & Indicated 2,500,000 7.53 605,000 Inferred 1,261,000 5.57 226,000

Blue Star Gold – Ulu Option Terms

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Blue Star Gold has exercised its option to acquire 100% ownership of Ulu from Mandalay Resources and upon the approval of Nunavut regulators for the transfer of the lease and water license, will:

• Pay to Mandalay the final payment of$450,000

upon transmittal the Ulu mining lease to Blue Star Gold

• Post remediation security required

by the Kitikmeot Inuit Association (“KIA”) and the Nunavut Water Board (“NWB”)

• Blue Star to assume future reclamation

and monitoring obligations associated with Ulu in a manner satisfactory to the KIA and the NWB

• Mandalay to transfer its $1.7 million

remediation account to Blue Star upon the release of these funds by CIRNAC

Blue Star Gold – Ulu/Hood Exploration

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Ulu Project

• Most of the historic drilling focused on the Flood Zone
• Flood Zone traced for 435 m on surface with current resource between surface and a

vertical depth of 525 m

• The deepest drill intersection assayed 14.9 g/t Au over 7.7 m at a vertical depth of 610 m

demonstrating further potential at depth

• The Flood Zone remains open on strike and has infill potential near-surface in which to

expand resources and improve grade

• 10 additional high priority drill targets identified

Hood River Property

Several drill-ready gold targets identified to date including: North Fold Nose

• The northern most extension of the Ulu fold and the Flood Zone
• Previous drill intersection of 9.16 g/t Au over 6.9 m

Crown Zone

• The Crown Zone is composite of five individual areas
• “Main” area trench assayed 13.47 g/t Au over 2.0 m

Penthouse Zones

• Up to 3 km of strike with very high-grade areas returning more than 200 g/t Au over 1.0 m

Blue Star Gold – The Opportunity

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Potentially 35+ High-Grade Gold targets located in a stable, mining-friendly jurisdiction Ulu:

• Measured & Indicated Resource of 605,000 ounces and Inferred Resource of 226,000 ounces
• Flood Zone open at depth and on-strike
• Strong potential to expand resources with identified mineralized zones and
• Extensive surface infrastructure to support regional exploration

Hood:

• Large under-explored land package in a favourable geologic environment
• 22 high-grade gold occurrences with drill targets identified on historic gold zones

Blue Star Gold – Management Team

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Bottom FLTR: Cindy Chu, Stephen Wilkinson, Zara Kanji Top FLTR: Warren Robb, Mike Stewart, Peter Kuhn

Blue Star Gold – Management Team

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Stephen Wilkinson, President & CEO, has over 35 years’ experience in the mining and finance industries. In the mid to late 1990's, Mr. Wilkinson was the Vancouver-based mining analyst for RBC Dominion Securities Inc. He has since held the positions of President, CEO and Director of Northern Orion Explorations Ltd., ValGold Resources Ltd. and Falcon Gold Corp. and acted as a Director of Gran Colombia Gold Corp., Bolivar Gold Corp., Pacific Stratus International Energy Ltd., Portofino Resources Inc., Centurion Minerals Ltd., and Parallel Mining Corp. Mr. Wilkinson has a Bachelor of Science from the University of Western Ontario (Geology, 1976), a Master of Science from Carleton University in Ottawa (Geology, 1983) and an MBA degree from Clarkson University in Potsdam, New York (1995). Peter M. Kuhn, GM, is a proactive mining executive recognized for vision and creative problem solving with extensive experience in international projects. After his work over 13 years with Thyssen Mining Construction, from Project Manager to President, he expanded Thyssen Mining to the USA and Latin

• America. After a stint with BLM Mining Services in Sudbury, he worked in the USA as President and CEO of Bullion River Gold and later on in Mexico for his
• wn private company. In 2014, he joined WPC Resources and is now General Manager of Blue Star Gold Corp. Mr. Kuhn holds a Master of Engineering

degree of the Technical University of Clausthal, Germany. Zara Kanji, CFO, is experienced in financial reporting compliance for junior listed resource companies, taxation, general accounting and reporting and value-added operational consulting services. Prior to starting her accounting practice, Zara has also served as director and officer for several listed issuers and has facilitated several financings and acquisition transactions. Zara is a Member of the Chartered Professional Accountants of BC and Canada and previously the Certified General Accountants Association since August 2003. Zara holds a Bachelors of Technology in Accounting (Honors) and a Diploma in Corporate Finance (Honors) from the British Columbia Institute of Technology. Mike Stewart, Corporate Secretary, is a partner at the British Columbia-based ATAC LAW Corporation where he practices law. Mr. Stewart is also a professional engineer in the provinces of British Columbia and Ontario, with experience in the oil and gas, mining and forestry sectors. Mr. Stewart is a former adjunct professor in Applied Science at the University of British Columbia and currently serves on several committees as Senator of the University of British Columbia. Warren Robb, P. Geo. VP Exploration, he graduated from the University of British Columbia in 1987 with a Bachelor of Science in Geology and has over 25 years of mineral exploration experience. Mr. Robb has worked for both senior and junior mining companies and has extensive operational and drill program management experience ranging from small preliminary testing to expansive programs for ore reserve definition to mining operations. Mr. Robb has managed exploration programs for precious and base metals throughout Canada, USA, China, Africa and South America. In 2012, Mr. Robb served as Chief Geologist for Roxgold Inc., where he supervised both field exploration and diamond drilling programs. Cindy Chu, Controller, is a senior professional with over 20 years in the mining, healthcare and telecommunications industries in the areas of finance, communications, investor relations and business development. Her areas of specialization include implementation of operational and financial systems, project management of small/medium-sized business start-ups and organizational business process improvement. She is a graduate of the University of British Columbia with a Bachelor of Commerce in Marketing.

Blue Star Gold – Contact Info

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STEPHEN WILKINSON President & CEO Tel: +1 604 787 6006 Email: info@bluestargold.ca

• OR-

Head Office: Blue Star Gold Corp., Suite 1125, 595 Howe Street, Vancouver, BC, Canada V6C 2T5 Tel: +1 778 379 1433 E-mail: info@bluestargold.ca Website: https://bluestargold.ca/