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Sept. 20, 2021, 8:02 a.m. EDT

GoldSpot Discoveries Signs Service Agreement with Blue Star Gold to Apply Machine Learning Technology on Nunavut Properties

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Toronto, Ontario, Sep 20, 2021 (Newsfile Corp via COMTEX) -- Toronto, Ontario--(Newsfile Corp. - September 20, 2021) - GoldSpot Discoveries Corp. /zigman2/quotes/210443510/delayed CA:SPOT -2.97% (otcqx:SPOFF) ("GoldSpot" or the "Company"), a leading technology services company leveraging machine learning to transform the mineral discovery process is pleased to announce it has been engaged by Blue Star Gold Corp. /zigman2/quotes/202305745/delayed CA:BAU -2.94% /zigman2/quotes/205478380/delayed BAUFF +7.95% /zigman2/quotes/208437816/delayed DE:5WP0 +1.36% ("Blue Star"), to apply its proprietary machine learning technology and geoscience expertise on Blue Star's properties located in Nunavut.

Blue Star is the largest titleholder in the Archean High Lake Greenstone belt, controlling a 50km strike with over 40 high-grade gold occurrences. The area consists of the Ulu (16 showings) , Hood River (22 showings) and Roma projects and has seen approximately 100,000 metres of drilling the majority of which was on the Ulu project (Cowley, Paul, Singh, R & Giroux, Gary. 2015. Technical Report on the Ulu Gold Property, Nunavut, Canada). The Ulu project has an estimated resource of 2.5Mt @7.5 g/t Au (M&I) for 605K oz Au; ~1.3 Mt @5.6g/t Au (Inf.) for 225K oz Au. (Cowley, Paul, Singh, R & Giroux, Gary. 2015. Technical Report on the Ulu Gold Property, Nunavut, Canada). Hood River is contiguous with Ulu and contains over 20+ gold showings (Cowley, Paul, Singh, R & Giroux, Gary. 2015. Technical Report on the Ulu Gold Property, Nunavut, Canada). Hood River and Roma projects are under-explored with abundant potential for new discoveries. GoldSpot will work closely with the Geological team at Blue Star and apply its proprietary machine learning approach on the projects to provide smart targets.

"Investors will continue to place a premium on district-size projects that provide the opportunity for multiple large-scale discoveries. We are excited to work with the Blue Star team and to help them define high priority areas for further exploration," commented GoldSpot Chief Executive Officer Vincent Dubé-Bourgeois. "GoldSpot will work closely with the technical team at Blue Star to analyze geophysical, geochemical and geological data to provide smart targets for further drilling."

Grant Ewing, Blue Star's Chief Executive Officer, commented: "The extent of the high-grade gold showings and the presence of different styles of gold mineralization throughout our projects present Blue Star with multiple opportunities for new discovery and resource growth. Our high-quality technical team delivered early success with the current exploration drilling program, with 20.8 g/t gold over 8.15 metres returned from a new vein system on our Ulu project. With the assistance of GoldSpot, Blue Star's team expects to elevate more targets to drill ready status and increase the number of targets in our developing pipeline."

The technical information in this press release has been prepared in accordance with the Canadian regulatory requirements set out in National Instrument 43-101 (Standards of Disclosure for Mineral Projects) and reviewed and approved by Chris MacInnis, professional geoscientist (APGO No. 2059), a qualified person as defined by National Instrument 43-101 guidelines.

About Blue Star Gold Corp.

Blue Star is a gold company focused on exploration and development within Nunavut, Canada. The Company owns the Ulu Gold Property lease, an advanced gold project, and the highly prospective Hood River Property that is contiguous to the Ulu mining lease. With the recent acquisition of the Roma Project, Blue Star now controls over 16,000 hectares of highly prospective and underexplored mineral properties in the High Lake Greenstone Belt, Nunavut. A significant high-grade gold resource exists at the Flood Zone deposit (Ulu lease), and numerous high-grade gold occurrences and priority targets occur throughout the Ulu, Hood River and Roma Projects.

About GoldSpot Discoveries Corp.

GoldSpot Discoveries Corp. /zigman2/quotes/210443510/delayed CA:SPOT -2.97% (otcqx:SPOFF) is a technology services company in mineral exploration. GoldSpot is a leading team of expert scientists who merge geoscience and data science to deliver bespoke solutions that transform the mineral discovery process. In the race to make discoveries, GoldSpot produces Smart Targets and advanced geological modelling that saves time, reduces costs and provides accurate results.

For further information please contact:

Denis Laviolette
Executive Chairman and President
GoldSpot Discoveries Corp.
Tel: 647-992-9837
Email: investors@goldspot.ca

Cautionary Statement on Forward -Looking Information

Neither the TSX Venture Exchange ("TSXV") nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release contains forward-looking information which involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes, but is not limited to, the Company's objectives, goals or future plans, statements regarding exploration results and exploration plans. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, capital and operating costs varying significantly from estimates, the preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry, and those risks set out in the Company's public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/96894

COMTEX_393660814/2523/2021-09-20T08:01:34

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/zigman2/quotes/210443510/delayed
CA : Canada: TSX Venture
$ 0.98
-0.03 -2.97%
Volume: 37,392
Oct. 21, 2021 5:00p
P/E Ratio
5.51
Dividend Yield
N/A
Market Cap
$117.47 million
Rev. per Employee
N/A
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/zigman2/quotes/202305745/delayed
CA : Canada: TSX Venture
$ 0.66
-0.02 -2.94%
Volume: 9,000
Oct. 21, 2021 5:00p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$34.14 million
Rev. per Employee
N/A
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/zigman2/quotes/205478380/delayed
US : U.S.: OTC
$ 0.55
+0.04 +7.95%
Volume: 250.00
Oct. 15, 2021 10:21a
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$27.63 million
Rev. per Employee
N/A
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/zigman2/quotes/208437816/delayed
DE : Germany: Frankfurt
0.45
+0.0060 +1.36%
Volume: 0.00
Oct. 21, 2021 8:10a
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
N/A
Rev. per Employee
N/A
loading...
/zigman2/quotes/210443510/delayed
CA : Canada: TSX Venture
$ 0.98
-0.03 -2.97%
Volume: 37,392
Oct. 21, 2021 5:00p
P/E Ratio
5.51
Dividend Yield
N/A
Market Cap
$117.47 million
Rev. per Employee
N/A
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