Blue Star Gold secures $1.35M to fuel Nunavut’s high-grade gold exploration
Blue Star Gold Corp. has completed the final stage of its private placement, raising an additional $100,000. The company issued 400,000 flow-through common shares at $0.25 each, bringing total proceeds from the offering to $1.35 million. These funds will support exploration work in Nunavut’s High Lake Greenstone Belt.
The mineral exploration firm, listed on the TSX Venture Exchange as BAU, the U.S. OTCQB as BAUFF, and the Frankfurt Exchange as 5WP0, holds over 300 square kilometres of land in the region. Its key assets include the Ulu Gold Project and the Roma Project, both featuring high-grade gold deposits and multiple untapped exploration targets.
The proposed Grays Bay deep-water port, located 40 to 100 kilometres north of the properties, could improve access. A planned all-weather road corridor would also pass near the company’s projects, potentially aiding future logistics.
As part of the financing, Blue Star paid $6,000 in cash and issued 24,000 non-transferable finder’s warrants. All securities from the placement remain under a four-month hold period, expiring on March 29, 2026. The transaction still requires final approval from the TSX Venture Exchange.
The raised capital will fund exploration at the company’s Nunavut projects, with flow-through share proceeds earmarked for fieldwork and general working capital. The move strengthens Blue Star’s ability to advance its gold-focused portfolio in a region known for underexplored mineral potential.
