Blue Star Gold announces $3M private placement at $0.24 per unit

Blue Star Gold Corp. (TSXV: BAU) announced plans to raise up to $3 million through a non-brokered private placement, subject to TSX Venture Exchange approval.

The Vancouver-based mineral exploration company will issue up to 12.5 million units at $0.24 each. Each unit consists of one common share and half of one warrant. The full warrants allow holders to purchase additional shares at $0.30 each for two years following the closing date.

Blue Star intends to use proceeds for general working capital. All securities will be subject to a four-month and one-day hold period under Canadian securities laws.

The company operates mineral exploration properties covering over 420 square kilometers in Nunavut's High Lake Greenstone Belt. Its assets include the Ulu Gold Project, which contains the Ulu Mining Lease and Hood River Property, along with the Roma and Auma Projects.

Blue Star's projects are located 40-100 kilometers south of the proposed Grays Bay deep-water port. The planned Grays Bay Road corridor will pass near the company's properties. The road and port project was recently referred to the Major Projects Office.

Blue Star trades on the TSX Venture Exchange, OTCQB Venture Market (BAUFF), and Frankfurt Exchange (5WP0).

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