07:14 AM EDT, 05/26/2026 (MT Newswires) -- Blue Star Gold ( BAUFF ) plans to complete a non-brokered private placement to raise proceeds of up to $2 million through the issuance of up to around 7.69 million flow-through shares at $0.26 each, subject to the approval of the TSX Venture Exchange, the company said late Monday.

The proceeds will be used to incur eligible "Canadian exploration expenses" that qualify as "flow-through mining expenditures", as both terms are defined in the Income Tax Act (Canada), related to the company's projects in Nunavut.

"The Company will renounce Qualifying Expenditures with an effective date of no later than December 31, 2027, in an amount of not less than the total amount of the gross proceeds raised from the issuance of the FT Shares and incur such expenses by December 31, 2027," it added.