09:15 AM EDT, 06/10/2026 (MT Newswires) -- Blue Star Gold's ( BAUFF ) Phase I exploration program, located in Nunavut, over its critical mineral targets has been completed, and two drills have been mobilized to initiate the Phase 2 drilling program, it said on Wednesday.

The Phase 2 drilling program will start on high-potential gold targets, followed by drill testing critical mineral targets. Its Phase 1 ground-based fixed loop electromagnetic (FLEM) surveys refined airborne electromagnetic plate models derived from the 2025 SkyTEM dataset, it said.

FLEM data is being processed to refine plate targets for drill evaluation with plans to drill a minimum of five target areas. Initial drilling will be undertaken at the Auma project targeting high-grade gold mineralization associated with conductive alteration corridors, and North Nutaaq to follow up on 7.31 grams per tonne (g/t) gold over 5.7 meters that was drilled in 2025, it added.

"The successful execution of our Phase 1 program has delivered promising preliminary data, confirming high-quality drill targets," said Blue Star Gold ( BAUFF ) chief executive Grant Ewing. "Data processing for our critical mineral targets remains underway as we concurrently prepare to launch the Phase 2 drilling program, which will initially prioritize two prospective gold target areas."

Shares of the company closed down 7.9% to $0.175 on Tuesday on the TSX Venture Exchange.