Vancouver, British Columbia--(Newsfile Corp. - January 18, 2019) - Blue Star Gold Corp. (TSXV: BAU) ("Blue Star" or the "Company"), formerly WPC Resources Inc. ("WPC"), announces it commences trading today on TSX - Venture Exchange with the symbol: BAU. There has been no change to the number of shares issued and outstanding with the change of name and symbol.
Stephen Wilkinson, CEO and President commented, "Blue Star Gold Corp. focuses on exploring and developing its several high-grade gold occurrences within both the Ulu property and the Hood River Concessions. At the same time, management plans to improve its communication with all its stakeholders while building strong relations with people and regulators of the Kitikmeot Region of Nunavut."
About Blue Star Gold Corp.
Blue Star is a Vancouver-based gold and silver exploration company focused on mineral exploration and development within Nunavut, Canada. The Company through its subsidiary, Inukshuk Exploration Inc., owns the highly prospective 8,015 ha Hood River gold property located contiguous to the Ulu mining lease. Blue Star holds a definitive agreement to acquire the Ulu, an advanced gold and silver project. The new Company website is under construction but for the interim, information on the projects, directors and management may be found at www.wpcresources.ca.
About the Hood River Gold Property
The 100% owned Hood River property totals 8,015 ha that cover the southern portion of the High Lake Greenstone Belt - a gold-rich, underexplored, Archean-age volcanic belt with a potential similar to the prolific Red Lake Belt in Ontario. The concessions are contiguous with, and host identical geology, structure and mineralisation as the Ulu mining lease. In 1991 and 1992 BHP collared thirty-three drill holes throughout the Property. Historical drill intersections from the Property have been reported in the assessment records and include 6.88m @ 9.16 g/t gold; 6.03m @ 7.31 g/t gold; 1.07m @ 10.3 g/t gold and 5.44m @ 3.65 g/t gold. Blue Star is currently looking to permit drill programs to follow-up on the historical work to commence during the 2019 field season.
About the Ulu Gold Property
The Ulu property consists of the renewable 21-year Lease No: NL3563 which covers an area of approximately 947 ha and has an expiry date of Nov 18, 2038.
The Property hosts an advanced gold project that between 1989 and 2012 saw significant exploration and development. The past work includes approximately 1.7 km of underground development and approximately 351 diamond drill holes that produced 135,713 m of core. Supplementing the exploration data, metallurgical testing by the Company on the Flood Zone gold mineralization has shown that gold is recoverable in amounts greater than 90% by gravity, flotation and cyanidation.
In July 2015, the Company filed its update of the Ulu mineral resource. Using a gold cut-off grade of 4 grams per tonne ("g/t"), the overall resources were reported as 2.50 million ("M") tonnes grading 7.53 g/t Au for 605,000 gold ounces in the Measured and Indicated Categories and 1.26 M tonnes at a grade of 5.57 g/t Au for 226,000 gold ounces in the Inferred Category.
Blue Star holds a definitive agreement to acquire 100% of the Ulu property from Mandalay Resources Corporation. Upon completion of the site remediation, the down-sizing of the infrastructure to suit an advanced exploration project and the issue to Mandalay of 15 million Company common shares, the Company will acquire 100% ownership of the Ulu.
Mr. 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 news release.
For further information, please contact:
Stephen Wilkinson, President and CEO
Telephone: +1 778-379-1433
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the Policies of the TSX-Venture Exchange) accepts responsibility for the adequacy or accuracy of this Release.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS AND INFORMATION
This news release contains certain "forward-looking information" within the meaning of Canadian securities laws. Actual results may differ materially from those indicated by such forward-looking information. All information included herein, other than statements of historical fact, including the expected completion of the Placement and the timing thereof, and the expected use of proceeds are forward-looking statements and involves various risks and uncertainties. There can be no assurance that the forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information.