# Blue Star Updates its Ulu Gold Project Mineral Resource Estimate Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f Original source: https://money.tmx.com/en/quote/BAU/news/5297760691851795/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate Publisher: tmx Original announcement: 2026-05-21T12:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Blue Star Gold Corp. - Ticker: BAU - Exchange: TSX - Region: Nunavut, Canada - Primary commodity: Gold - Secondary commodities: None reported - Document categories: Resource update - Extracted: 2026-09-19 11:09:09 UTC Narrative sentiment: 0.70 · Bullish ## Minestarters Atlas summary Blue Star Gold Corp. announced an updated Mineral Resource Estimate for its Ulu Gold Project in Nunavut, Canada. The MRE reports a Measured and Indicated Mineral Resource of 2.204 million tonnes at 7.87 g/t gold for 558,000 ounces, and an Inferred Mineral Resource of 3.263 million tonnes at 4.54 g/t gold for 476,000 ounces. The company highlights the project's growth potential, with mineralization remaining open for expansion and metallurgical studies suggesting gold recoveries exceeding 90%. Reasoning: The updated MRE shows a substantial high-grade Measured and Indicated resource, coupled with growth in Inferred ounces, reinforcing the project's potential. High recovery rates are also positive. - Positive factor: Significant Measured and Indicated resource of 558,000 ounces at a high grade of 7.87 g/t gold. - Positive factor: Increase in Inferred ounces, indicating growth potential. - Positive factor: Metallurgical studies suggest high gold recoveries exceeding 90%. - Positive factor: Resource remains open for expansion across all zones. - Negative factor: A significant portion of the total resource is in the Inferred category \(476,000 oz out of 1,034,000 oz total contained gold\). Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 73 ## Classification and evidence **Resource Update** Polarity: neutral Definition: Revised estimate for an existing resource — compare to prior to assess progress. Why it applies: The document announces an update to the company's Mineral Resource Estimate for the Ulu Gold Project. Evidence · text > Blue Star Updates its Ulu Gold Project Mineral Resource Estimate **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: The MRE includes 976,000 tonnes at 8.70 g/t Au for 273,000 ounces in the Measured category. Evidence · table > Measured Context: 976 **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: The MRE includes 1,228,000 tonnes at 7.21 g/t Au for 285,000 ounces in the Indicated category. Evidence · table > Indicated Context: 1,228 **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: The MRE includes 3,263,000 tonnes at 4.54 g/t Au for 476,000 ounces in the Inferred category. Evidence · table > Inferred Context: 3,263 **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: David Burga, P. Geo. from P&E Mining Consultants Inc. is named as the independent Qualified Person for the MRE. Evidence · text > The independent Qualified Person for the Mineral Resource Estimate, as defined by NI 43-101, is David Burga, P. Geo. \(Nunavut \#2272\) from P&E Mining Consultants Inc. **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: The MRE was prepared by P&E Mining Consultants Inc. within the parameters of the NI 43-101 Standards of Disclosure for Mineral Projects. Evidence · text > P&E Mining Consultants Inc., who performed the Mineral Resource modelling, are independent Qualified Persons and have prepared the updated MRE within the parameters of the NI 43-101 Standards of Disclosure for Mineral Projects. **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: A current resource fact retains the disclosed cut-off grade ## Extracted facts Stored fact records: 73. Some facts used in scoring do not have a stored record. ## Resource Estimates (73) ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-0) Ulu Gold Project · gold #### Identity - Project: Ulu Gold Project - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:9e0c4fc5c3457114d760 - Deposit or zone: Flood - Mining method: other #### Resource Data - Category: measured - Tonnes: 441000 - Grade: 8.33 - Grade Unit: g/t - Contained Metal: 118 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: This is a high-grade Measured resource, which is a strong positive for project confidence and potential open-pit economics. - Positive factor: High-grade Measured resource in the pit-constrained Flood zone. - Positive factor: Measured category indicates high geological confidence. Evidence · table > 8.33 Context: 441 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-1) Ulu Gold Project · gold #### Identity - Project: Ulu Gold Project - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:5ec2010cd312c88b3fa9 - Deposit or zone: Flood - Mining method: other #### Resource Data - Category: indicated - Tonnes: 200000 - Grade: 6.95 - Grade Unit: g/t - Contained Metal: 45 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A solid Indicated resource contributing to the pit-constrained inventory, showing good grade. - Positive factor: High-grade Indicated resource in the pit-constrained Flood zone. Evidence · table > 6.95 Context: 200 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-2) Ulu Gold Project · gold #### Identity - Project: Ulu Gold Project - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:4b18a506f179f1409b2d - Deposit or zone: Flood - Mining method: other #### Resource Data - Category: indicated - Tonnes: 641000 - Grade: 7.9 - Grade Unit: g/t - Contained Metal: 163 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: This M+I category provides a robust high-grade pit-constrained resource base for the Flood zone. - Positive factor: Combined Measured and Indicated resource shows strong grade and tonnage for pit-constrained mining. Evidence · table > 7.90 Context: 641 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-3) Ulu Gold Project · gold #### Identity - Project: Ulu Gold Project - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:b625eb0afb02675558e7 - Deposit or zone: Flood - Mining method: other #### Resource Data - Category: inferred - Tonnes: 142000 - Grade: 4.32 - Grade Unit: g/t - Contained Metal: 20 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A smaller Inferred component for the pit-constrained Flood zone, providing some future potential but with lower confidence. - Negative factor: Inferred category has lower confidence. Evidence · table > 4.32 Context: 142 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-4) Ulu Gold Project · gold #### Identity - Project: Ulu Gold Project - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:2c901aa0540e8c150f5d - Deposit or zone: NTK - Mining method: other #### Resource Data - Category: indicated - Tonnes: 2000 - Grade: 8.04 - Grade Unit: g/t - Contained Metal: 1 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A very small, high-grade Indicated resource in the NTK zone, contributing minimally to overall tonnage. - Positive factor: Very high grade for a pit-constrained resource. - Negative factor: Very small tonnage. Evidence · table > 8.04 Context: 2 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-5) Ulu Gold Project · gold #### Identity - Project: Ulu Gold Project - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:ca94edf2b9c5a6f8a2aa - Deposit or zone: NTK - Mining method: other #### Resource Data - Category: inferred - Tonnes: 90000 - Grade: 4.07 - Grade Unit: g/t - Contained Metal: 12 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A small Inferred resource for the pit-constrained NTK zone, offering some future potential. - Negative factor: Inferred category has lower confidence. Evidence · table > 4.07 Context: 90 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-6) Ulu Gold Project · gold #### Identity - Project: Ulu Gold Project - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:af05e59f65d4ab0c73ee - Deposit or zone: NFN - Mining method: other #### Resource Data - Category: indicated - Tonnes: 25000 - Grade: 14.54 - Grade Unit: g/t - Contained Metal: 12 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A small but exceptionally high-grade Indicated resource in the NFN zone, which is very positive for potential economics. - Positive factor: Extremely high grade for a pit-constrained resource. - Negative factor: Small tonnage. Evidence · table > 14.54 Context: 25 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-7) Ulu Gold Project · gold #### Identity - Project: Ulu Gold Project - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:a1f5f56a8df49828d8ac - Deposit or zone: NFN - Mining method: other #### Resource Data - Category: inferred - Tonnes: 46000 - Grade: 11.58 - Grade Unit: g/t - Contained Metal: 17 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A small but very high-grade Inferred resource in the NFN zone, indicating strong potential for future upgrades. - Positive factor: Very high grade for an Inferred resource. - Negative factor: Inferred category has lower confidence. Evidence · table > 11.58 Context: 46 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-8) Ulu Gold Project · gold #### Identity - Project: Ulu Gold Project - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:d5daf98a88f56c153896 - Deposit or zone: Sub-Total - Mining method: other #### Resource Data - Category: measured - Tonnes: 441000 - Grade: 8.33 - Grade Unit: g/t - Contained Metal: 118 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: This sub-total confirms a significant high-grade Measured resource for pit-constrained mining. - Positive factor: High-grade Measured resource for the pit-constrained sub-total. Evidence · table > 8.33 Context: 441 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-9) Ulu Gold Project · gold #### Identity - Project: Ulu Gold Project - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:d92c20b48a0b1e3a6149 - Deposit or zone: Sub-Total - Mining method: other #### Resource Data - Category: indicated - Tonnes: 227000 - Grade: 7.8 - Grade Unit: g/t - Contained Metal: 58 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A solid high-grade Indicated resource contributing to the pit-constrained sub-total. - Positive factor: High-grade Indicated resource for the pit-constrained sub-total. Evidence · table > 7.80 Context: 227 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-10) Ulu Gold Project · gold #### Identity - Project: Ulu Gold Project - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:f41a719ef0096dc55930 - Deposit or zone: Sub-Total - Mining method: other #### Resource Data - Category: indicated - Tonnes: 668000 - Grade: 8.15 - Grade Unit: g/t - Contained Metal: 176 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: This M+I sub-total represents a robust high-grade pit-constrained resource. - Positive factor: Combined Measured and Indicated resource shows strong grade and tonnage for pit-constrained mining. Evidence · table > 8.15 Context: 668 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-11) Ulu Gold Project · gold #### Identity - Project: Ulu Gold Project - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:86a89d08b0c7e2fd8593 - Deposit or zone: Sub-Total - Mining method: other #### Resource Data - Category: inferred - Tonnes: 278000 - Grade: 5.44 - Grade Unit: g/t - Contained Metal: 49 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A moderate Inferred resource for the pit-constrained sub-total, providing future potential. - Negative factor: Inferred category has lower confidence. Evidence · table > 5.44 Context: 278 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-12) Ulu Gold Project · gold #### Identity - Project: Ulu Gold Project - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:80b66421264ec11b338a - Deposit or zone: Flood - Mining method: underground #### Resource Data - Category: measured - Tonnes: 535000 - Grade: 9.01 - Grade Unit: g/t - Contained Metal: 155 - Contained Unit: koz - Cutoff Grade: 2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: This is a significant high-grade Measured resource for underground mining, which is very positive for project economics. - Positive factor: High-grade Measured resource for underground mining in the Flood zone. - Positive factor: Measured category indicates high geological confidence. Evidence · table > 9.01 Context: 535 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-13) Ulu Gold Project · gold #### Identity - Project: Ulu Gold Project - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:8049b9c7fbd1b10c60b9 - Deposit or zone: Flood - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 919000 - Grade: 7.11 - Grade Unit: g/t - Contained Metal: 210 - Contained Unit: koz - Cutoff Grade: 2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A substantial high-grade Indicated resource for underground mining, adding significant value. - Positive factor: High-grade Indicated resource for underground mining in the Flood zone. Evidence · table > 7.11 Context: 919 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-14) Ulu Gold Project · gold #### Identity - Project: Ulu Gold Project - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:c03ae28e2a02c37ba97b - Deposit or zone: Flood - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 1454000 - Grade: 7.81 - Grade Unit: g/t - Contained Metal: 365 - Contained Unit: koz - Cutoff Grade: 2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: This M+I category represents a very robust high-grade underground resource for the Flood zone. - Positive factor: Combined Measured and Indicated resource shows strong grade and tonnage for underground mining. Evidence · table > 7.81 Context: 1,454 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-15) Ulu Gold Project · gold #### Identity - Project: Ulu Gold Project - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:7b035681d52b4d429e32 - Deposit or zone: Flood - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 2430000 - Grade: 4.41 - Grade Unit: g/t - Contained Metal: 345 - Contained Unit: koz - Cutoff Grade: 2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A very large Inferred resource for underground mining in the Flood zone, offering substantial future potential for upgrades. - Positive factor: Large tonnage in the Inferred category provides significant upside potential. - Negative factor: Inferred category has lower confidence. Evidence · table > 4.41 Context: 2,430 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-16) Ulu Gold Project · gold #### Identity - Project: Ulu Gold Project - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:15fb8ec9e95bfb2bfe0c - Deposit or zone: NTK - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 27000 - Grade: 5.68 - Grade Unit: g/t - Contained Metal: 5 - Contained Unit: koz - Cutoff Grade: 2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A small but good-grade Indicated resource for underground mining in the NTK zone. - Positive factor: Good grade for an underground Indicated resource. - Negative factor: Small tonnage. Evidence · table > 5.68 Context: 27 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-17) Ulu Gold Project · gold #### Identity - Project: Ulu Gold Project - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:2acbc0a9600ef1b3df53 - Deposit or zone: NTK - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 371000 - Grade: 4.46 - Grade Unit: g/t - Contained Metal: 53 - Contained Unit: koz - Cutoff Grade: 2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A moderate Inferred resource for underground mining in the NTK zone, providing future potential. - Negative factor: Inferred category has lower confidence. Evidence · table > 4.46 Context: 371 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-18) Ulu Gold Project · gold #### Identity - Project: Ulu Gold Project - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:b16050efd9d34b7fb5d9 - Deposit or zone: NFN - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 55000 - Grade: 7.37 - Grade Unit: g/t - Contained Metal: 13 - Contained Unit: koz - Cutoff Grade: 2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A small but high-grade Indicated resource for underground mining in the NFN zone. - Positive factor: High grade for an underground Indicated resource. - Negative factor: Small tonnage. Evidence · table > 7.37 Context: 55 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-19) Ulu Gold Project · gold #### Identity - Project: Ulu Gold Project - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:eb2182e4a9aaf45662ef - Deposit or zone: NFN - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 184000 - Grade: 4.96 - Grade Unit: g/t - Contained Metal: 29 - Contained Unit: koz - Cutoff Grade: 2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A small Inferred resource for underground mining in the NFN zone, with reasonable grade. - Negative factor: Inferred category has lower confidence. Evidence · table > 4.96 Context: 184 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-20) Ulu Gold Project · gold #### Identity - Project: Ulu Gold Project - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:fd72326edab923c4d79c - Deposit or zone: Sub-Total - Mining method: underground #### Resource Data - Category: measured - Tonnes: 535000 - Grade: 9.01 - Grade Unit: g/t - Contained Metal: 155 - Contained Unit: koz - Cutoff Grade: 2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: This sub-total confirms a significant high-grade Measured resource for underground mining. - Positive factor: High-grade Measured resource for the underground sub-total. Evidence · table > 9.01 Context: 535 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-21) Ulu Gold Project · gold #### Identity - Project: Ulu Gold Project - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:a6452a8150c5516bbf93 - Deposit or zone: Sub-Total - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 1001000 - Grade: 7.08 - Grade Unit: g/t - Contained Metal: 228 - Contained Unit: koz - Cutoff Grade: 2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A significant high-grade Indicated resource contributing to the underground sub-total. - Positive factor: Substantial high-grade Indicated resource for the underground sub-total. Evidence · table > 7.08 Context: 1,001 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-22) Ulu Gold Project · gold #### Identity - Project: Ulu Gold Project - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:4b4eff034025f467db92 - Deposit or zone: Sub-Total - Mining method: underground #### Resource Data - Category: indicated - Tonnes: 1536000 - Grade: 7.76 - Grade Unit: g/t - Contained Metal: 383 - Contained Unit: koz - Cutoff Grade: 2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: This M+I sub-total represents a very robust high-grade underground resource. - Positive factor: Combined Measured and Indicated resource shows strong grade and tonnage for underground mining. Evidence · table > 7.76 Context: 1,536 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-23) Ulu Gold Project · gold #### Identity - Project: Ulu Gold Project - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:b0ade956a35ab9b1eb38 - Deposit or zone: Sub-Total - Mining method: underground #### Resource Data - Category: inferred - Tonnes: 2985000 - Grade: 4.45 - Grade Unit: g/t - Contained Metal: 427 - Contained Unit: koz - Cutoff Grade: 2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A very large Inferred resource for the underground sub-total, offering substantial future potential for upgrades. - Positive factor: Very large tonnage in the Inferred category provides significant upside potential. - Negative factor: Inferred category has lower confidence. Evidence · table > 4.45 Context: 2,985 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-24) Ulu Gold Project · gold #### Identity - Project: Ulu Gold Project - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:093d2ff3134c58854cd4 - Deposit or zone: Flood - Mining method: combined #### Resource Data - Category: measured - Tonnes: 976000 - Grade: 8.7 - Grade Unit: g/t - Contained Metal: 273 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: This combined Measured resource for the Flood zone is substantial and high-grade, providing a strong foundation. - Positive factor: Significant high-grade Measured resource for the combined Flood zone. Evidence · table > 8.70 Context: 976 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-25) Ulu Gold Project · gold #### Identity - Project: Ulu Gold Project - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:c3370f7da03c7aef48ad - Deposit or zone: Flood - Mining method: combined #### Resource Data - Category: indicated - Tonnes: 1119000 - Grade: 7.09 - Grade Unit: g/t - Contained Metal: 255 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A large and high-grade Indicated resource for the combined Flood zone, adding significant value. - Positive factor: Substantial high-grade Indicated resource for the combined Flood zone. Evidence · table > 7.09 Context: 1,119 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-26) Ulu Gold Project · gold #### Identity - Project: Ulu Gold Project - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:0366b32f42103bc388de - Deposit or zone: Flood - Mining method: combined #### Resource Data - Category: indicated - Tonnes: 2095000 - Grade: 7.84 - Grade Unit: g/t - Contained Metal: 528 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: This M+I category represents a very substantial and high-grade resource for the Flood zone, forming the core of the project. - Positive factor: Very large combined Measured and Indicated resource with strong grade for the Flood zone. Evidence · table > 7.84 Context: 2,095 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-27) Ulu Gold Project · gold #### Identity - Project: Ulu Gold Project - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:b84b9ca6640688eae84d - Deposit or zone: Flood - Mining method: combined #### Resource Data - Category: inferred - Tonnes: 2572000 - Grade: 4.41 - Grade Unit: g/t - Contained Metal: 365 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A very large Inferred resource for the combined Flood zone, offering substantial future potential for upgrades. - Positive factor: Very large tonnage in the Inferred category provides significant upside potential. - Negative factor: Inferred category has lower confidence. Evidence · table > 4.41 Context: 2,572 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-28) Ulu Gold Project · gold #### Identity - Project: Ulu Gold Project - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:1772994adebe9692bdb3 - Deposit or zone: NTK - Mining method: combined #### Resource Data - Category: indicated - Tonnes: 29000 - Grade: 6.44 - Grade Unit: g/t - Contained Metal: 6 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A small but good-grade Indicated resource for the combined NTK zone. - Positive factor: Good grade for a combined Indicated resource. - Negative factor: Small tonnage. Evidence · table > 6.44 Context: 29 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-29) Ulu Gold Project · gold #### Identity - Project: Ulu Gold Project - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:b001d83bac71533b72b0 - Deposit or zone: NTK - Mining method: combined #### Resource Data - Category: inferred - Tonnes: 461000 - Grade: 4.39 - Grade Unit: g/t - Contained Metal: 65 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A moderate Inferred resource for the combined NTK zone, providing future potential. - Negative factor: Inferred category has lower confidence. Evidence · table > 4.39 Context: 461 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-30) Ulu Gold Project · gold #### Identity - Project: Ulu Gold Project - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:79ff05456697afd2fba1 - Deposit or zone: NFN - Mining method: combined #### Resource Data - Category: indicated - Tonnes: 80000 - Grade: 9.72 - Grade Unit: g/t - Contained Metal: 25 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A small but very high-grade Indicated resource for the combined NFN zone, which is very positive. - Positive factor: Very high grade for a combined Indicated resource. - Negative factor: Small tonnage. Evidence · table > 9.72 Context: 80 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-31) Ulu Gold Project · gold #### Identity - Project: Ulu Gold Project - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:17dbf1392f2f123fc207 - Deposit or zone: NFN - Mining method: combined #### Resource Data - Category: inferred - Tonnes: 230000 - Grade: 6.22 - Grade Unit: g/t - Contained Metal: 46 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A moderate Inferred resource for the combined NFN zone, with good grade, providing future potential. - Positive factor: Good grade for an Inferred resource. - Negative factor: Inferred category has lower confidence. Evidence · table > 6.22 Context: 230 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-32) Ulu Gold Project · gold #### Identity - Project: Ulu Gold Project - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:d4c77db1bff355e422cd - Deposit or zone: Total - Mining method: combined #### Resource Data - Category: measured - Tonnes: 976000 - Grade: 8.7 - Grade Unit: g/t - Contained Metal: 273 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: This total Measured resource is substantial and high-grade, forming a strong foundation for the project. - Positive factor: Significant high-grade Measured resource for the total combined project. Evidence · table > 8.70 Context: 976 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-33) Ulu Gold Project · gold #### Identity - Project: Ulu Gold Project - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:81f135b77fa113bfa951 - Deposit or zone: Total - Mining method: combined #### Resource Data - Category: indicated - Tonnes: 1228000 - Grade: 7.21 - Grade Unit: g/t - Contained Metal: 285 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A large and high-grade Indicated resource for the total combined project, adding significant value. - Positive factor: Substantial high-grade Indicated resource for the total combined project. Evidence · table > 7.21 Context: 1,228 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-34) Ulu Gold Project · gold #### Identity - Project: Ulu Gold Project - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:0f7e5ae0b16d569c100e - Deposit or zone: Total - Mining method: combined #### Resource Data - Category: indicated - Tonnes: 2204000 - Grade: 7.87 - Grade Unit: g/t - Contained Metal: 558000 - Contained Unit: oz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: This M+I category represents a very substantial and high-grade total resource, forming the core of the project's value. - Positive factor: Very large combined Measured and Indicated resource with strong grade for the total project. Evidence · table > 7.87 Context: 2,204 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-35) Ulu Gold Project · gold #### Identity - Project: Ulu Gold Project - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:4d1a7717f21e650f5697 - Deposit or zone: Total - Mining method: combined #### Resource Data - Category: inferred - Tonnes: 3263000 - Grade: 4.54 - Grade Unit: g/t - Contained Metal: 476000 - Contained Unit: oz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A very large Inferred resource for the total combined project, offering substantial future potential for upgrades and expansion. - Positive factor: Very large tonnage in the Inferred category provides significant upside potential for the total project. - Negative factor: Inferred category has lower confidence. Evidence · table > 4.54 Context: 3,263 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### Fact 37 [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-36) West Kitikmeot Region #### Identity - Project: West Kitikmeot Region - Region: canada\_nu - Reported Region: Nunavut - Ticker: BAU #### Resource scope - Estimate type: resource - Resource group id: resource:9450bf5005ff84c8f7bc #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: Explicit resource disclosure recovered from source prose. Evidence · text > These assumptions have been applied to constrain the Mineral Resources and have resulted in lower cut-off grades. #### Tags used in scoring **Cut-off Lowered** Polarity: negative Definition: Cut-off grade reduced beyond the suspicious bound vs prior estimate — tonnage growth may be artificial inflation. Why it applies: These assumptions have been applied to constrain the Mineral Resources and have resulted in lower cut-off grades. Evidence · text > These assumptions have been applied to constrain the Mineral Resources and have resulted in lower cut-off grades. Context: West Kitikmeot Region, Nunavut **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **No Contained Metal** Polarity: negative Definition: Tonnage and grade reported but contained metal not calculated or disclosed — incomplete reporting. Why it applies: contained\_metal was not reported ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-37) Ulu · gold Needs review: contained\_metal\_scale\_conflict #### Identity - Project: Ulu - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:88ac7a83e5b0b1ca71a7 - Deposit or zone: Flood - Mining method: other #### Resource Data - Category: measured - Tonnes: 441 - Grade: 8.33 - Grade Unit: g/t - Contained Metal: 118 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: Yes - Review Reason: contained\_metal\_scale\_conflict - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: This is a high-grade Measured resource, which is a strong positive for project confidence and potential open-pit economics. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High-grade Measured resource in the pit-constrained Flood zone. - Positive factor: Measured category indicates high geological confidence. Evidence · table > 8.33 Context: 441 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-38) Ulu · gold Needs review: contained\_metal\_scale\_conflict #### Identity - Project: Ulu - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:75d94efb905c7c339126 - Deposit or zone: Flood - Mining method: other #### Resource Data - Category: indicated - Tonnes: 200 - Grade: 6.95 - Grade Unit: g/t - Contained Metal: 45 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: Yes - Review Reason: contained\_metal\_scale\_conflict - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A solid Indicated resource contributing to the pit-constrained inventory, showing good grade. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High-grade Indicated resource in the pit-constrained Flood zone. Evidence · table > 6.95 Context: 200 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-39) Ulu · gold Needs review: contained\_metal\_scale\_conflict #### Identity - Project: Ulu - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:b43c0200b6a5d05bd3ab - Deposit or zone: Flood - Mining method: other #### Resource Data - Category: indicated - Tonnes: 641 - Grade: 7.9 - Grade Unit: g/t - Contained Metal: 163 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: Yes - Review Reason: contained\_metal\_scale\_conflict - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A solid Indicated resource contributing to the pit-constrained inventory, showing good grade. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High-grade Indicated resource in the pit-constrained Flood zone. Evidence · table > 7.90 Context: 641 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-40) Ulu · gold Needs review: contained\_metal\_scale\_conflict #### Identity - Project: Ulu - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:309345b43c5a623d9dce - Deposit or zone: Flood - Mining method: other #### Resource Data - Category: inferred - Tonnes: 142 - Grade: 4.32 - Grade Unit: g/t - Contained Metal: 20 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: Yes - Review Reason: contained\_metal\_scale\_conflict - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A smaller Inferred component for the pit-constrained Flood zone, providing some future potential but with lower confidence. \(Expanded from multi-commodity resource table for completeness.\) - Negative factor: Inferred category has lower confidence. Evidence · table > 4.32 Context: 142 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-41) Ulu · gold #### Identity - Project: Ulu - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:b405c03a6a5f18c9ca31 - Deposit or zone: NTK - Mining method: other #### Resource Data - Category: indicated - Tonnes: 2 - Grade: 8.04 - Grade Unit: g/t - Contained Metal: 1 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A solid Indicated resource contributing to the pit-constrained inventory, showing good grade. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High-grade Indicated resource in the pit-constrained Flood zone. Evidence · table > 8.04 Context: 2 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-42) Ulu · gold Needs review: contained\_metal\_scale\_conflict #### Identity - Project: Ulu - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:07e6504dec01d19a8a72 - Deposit or zone: NTK - Mining method: other #### Resource Data - Category: inferred - Tonnes: 90 - Grade: 4.07 - Grade Unit: g/t - Contained Metal: 12 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: Yes - Review Reason: contained\_metal\_scale\_conflict - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A smaller Inferred component for the pit-constrained Flood zone, providing some future potential but with lower confidence. \(Expanded from multi-commodity resource table for completeness.\) - Negative factor: Inferred category has lower confidence. Evidence · table > 4.07 Context: 90 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-43) Ulu · gold Needs review: contained\_metal\_scale\_conflict #### Identity - Project: Ulu - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:b671ce4270bbbbb8f229 - Deposit or zone: NFN - Mining method: other #### Resource Data - Category: indicated - Tonnes: 25 - Grade: 14.54 - Grade Unit: g/t - Contained Metal: 12 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: Yes - Review Reason: contained\_metal\_scale\_conflict - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A solid Indicated resource contributing to the pit-constrained inventory, showing good grade. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High-grade Indicated resource in the pit-constrained Flood zone. Evidence · table > 14.54 Context: 25 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-44) Ulu · gold Needs review: contained\_metal\_scale\_conflict #### Identity - Project: Ulu - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:dbf679e1c4fb1215aa30 - Deposit or zone: NFN - Mining method: other #### Resource Data - Category: inferred - Tonnes: 46 - Grade: 11.58 - Grade Unit: g/t - Contained Metal: 17 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: Yes - Review Reason: contained\_metal\_scale\_conflict - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A smaller Inferred component for the pit-constrained Flood zone, providing some future potential but with lower confidence. \(Expanded from multi-commodity resource table for completeness.\) - Negative factor: Inferred category has lower confidence. Evidence · table > 11.58 Context: 46 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-45) Ulu · gold Needs review: contained\_metal\_scale\_conflict #### Identity - Project: Ulu - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:e4a129fcff463d92b9ac - Deposit or zone: Sub-Total - Mining method: other #### Resource Data - Category: measured - Tonnes: 441 - Grade: 8.33 - Grade Unit: g/t - Contained Metal: 118 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: Yes - Review Reason: contained\_metal\_scale\_conflict - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: This is a high-grade Measured resource, which is a strong positive for project confidence and potential open-pit economics. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High-grade Measured resource in the pit-constrained Flood zone. - Positive factor: Measured category indicates high geological confidence. Evidence · table > 8.33 Context: 441 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-46) Ulu · gold Needs review: contained\_metal\_scale\_conflict #### Identity - Project: Ulu - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:a5790329376fb59ed8b4 - Deposit or zone: Sub-Total - Mining method: other #### Resource Data - Category: indicated - Tonnes: 227 - Grade: 7.8 - Grade Unit: g/t - Contained Metal: 58 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: Yes - Review Reason: contained\_metal\_scale\_conflict - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A solid Indicated resource contributing to the pit-constrained inventory, showing good grade. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High-grade Indicated resource in the pit-constrained Flood zone. Evidence · table > 7.80 Context: 227 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-47) Ulu · gold Needs review: contained\_metal\_scale\_conflict #### Identity - Project: Ulu - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:98a9f4295ee6588950f6 - Deposit or zone: Sub-Total - Mining method: other #### Resource Data - Category: indicated - Tonnes: 668 - Grade: 8.15 - Grade Unit: g/t - Contained Metal: 176 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: Yes - Review Reason: contained\_metal\_scale\_conflict - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A solid Indicated resource contributing to the pit-constrained inventory, showing good grade. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High-grade Indicated resource in the pit-constrained Flood zone. Evidence · table > 8.15 Context: 668 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-48) Ulu · gold Needs review: contained\_metal\_scale\_conflict #### Identity - Project: Ulu - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:b87ef1b5ad635f1afe87 - Deposit or zone: Sub-Total - Mining method: other #### Resource Data - Category: inferred - Tonnes: 278 - Grade: 5.44 - Grade Unit: g/t - Contained Metal: 49 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: Yes - Review Reason: contained\_metal\_scale\_conflict - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A smaller Inferred component for the pit-constrained Flood zone, providing some future potential but with lower confidence. \(Expanded from multi-commodity resource table for completeness.\) - Negative factor: Inferred category has lower confidence. Evidence · table > 5.44 Context: 278 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-49) Ulu · gold Needs review: contained\_metal\_scale\_conflict #### Identity - Project: Ulu - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:66883aaab5e8662267f1 - Deposit or zone: Flood - Mining method: other #### Resource Data - Category: measured - Tonnes: 535 - Grade: 9.01 - Grade Unit: g/t - Contained Metal: 155 - Contained Unit: koz - Cutoff Grade: 2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: Yes - Review Reason: contained\_metal\_scale\_conflict - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: This is a high-grade Measured resource, which is a strong positive for project confidence and potential open-pit economics. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High-grade Measured resource in the pit-constrained Flood zone. - Positive factor: Measured category indicates high geological confidence. Evidence · table > 9.01 Context: 535 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-50) Ulu · gold Needs review: contained\_metal\_scale\_conflict #### Identity - Project: Ulu - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:45e5b72f6b02e1881577 - Deposit or zone: Flood - Mining method: other #### Resource Data - Category: indicated - Tonnes: 919 - Grade: 7.11 - Grade Unit: g/t - Contained Metal: 210 - Contained Unit: koz - Cutoff Grade: 2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: Yes - Review Reason: contained\_metal\_scale\_conflict - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A solid Indicated resource contributing to the pit-constrained inventory, showing good grade. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High-grade Indicated resource in the pit-constrained Flood zone. Evidence · table > 7.11 Context: 919 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-51) Ulu · gold Needs review: contained\_metal\_scale\_conflict #### Identity - Project: Ulu - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:62581210d359d3d963cb - Deposit or zone: Flood - Mining method: other #### Resource Data - Category: indicated - Tonnes: 1454 - Grade: 7.81 - Grade Unit: g/t - Contained Metal: 365 - Contained Unit: koz - Cutoff Grade: 2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: Yes - Review Reason: contained\_metal\_scale\_conflict - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A solid Indicated resource contributing to the pit-constrained inventory, showing good grade. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High-grade Indicated resource in the pit-constrained Flood zone. Evidence · table > 7.81 Context: 1,454 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-52) Ulu · gold Needs review: contained\_metal\_scale\_conflict #### Identity - Project: Ulu - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:ee90d87a7855b887e98d - Deposit or zone: Flood - Mining method: other #### Resource Data - Category: inferred - Tonnes: 2430 - Grade: 4.41 - Grade Unit: g/t - Contained Metal: 345 - Contained Unit: koz - Cutoff Grade: 2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: Yes - Review Reason: contained\_metal\_scale\_conflict - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A smaller Inferred component for the pit-constrained Flood zone, providing some future potential but with lower confidence. \(Expanded from multi-commodity resource table for completeness.\) - Negative factor: Inferred category has lower confidence. Evidence · table > 4.41 Context: 2,430 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-53) Ulu · gold Needs review: contained\_metal\_scale\_conflict #### Identity - Project: Ulu - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:04e1c6d0fc6862996bd1 - Deposit or zone: NTK - Mining method: other #### Resource Data - Category: indicated - Tonnes: 27 - Grade: 5.68 - Grade Unit: g/t - Contained Metal: 5 - Contained Unit: koz - Cutoff Grade: 2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: Yes - Review Reason: contained\_metal\_scale\_conflict - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A solid Indicated resource contributing to the pit-constrained inventory, showing good grade. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High-grade Indicated resource in the pit-constrained Flood zone. Evidence · table > 5.68 Context: 27 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-54) Ulu · gold Needs review: contained\_metal\_scale\_conflict #### Identity - Project: Ulu - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:745e5d10cfd80514b53b - Deposit or zone: NTK - Mining method: other #### Resource Data - Category: inferred - Tonnes: 371 - Grade: 4.46 - Grade Unit: g/t - Contained Metal: 53 - Contained Unit: koz - Cutoff Grade: 2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: Yes - Review Reason: contained\_metal\_scale\_conflict - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A smaller Inferred component for the pit-constrained Flood zone, providing some future potential but with lower confidence. \(Expanded from multi-commodity resource table for completeness.\) - Negative factor: Inferred category has lower confidence. Evidence · table > 4.46 Context: 371 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-55) Ulu · gold Needs review: contained\_metal\_scale\_conflict #### Identity - Project: Ulu - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:f5cdf8a17a690df45418 - Deposit or zone: NFN - Mining method: other #### Resource Data - Category: indicated - Tonnes: 55 - Grade: 7.37 - Grade Unit: g/t - Contained Metal: 13 - Contained Unit: koz - Cutoff Grade: 2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: Yes - Review Reason: contained\_metal\_scale\_conflict - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A solid Indicated resource contributing to the pit-constrained inventory, showing good grade. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High-grade Indicated resource in the pit-constrained Flood zone. Evidence · table > 7.37 Context: 55 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-56) Ulu · gold Needs review: contained\_metal\_scale\_conflict #### Identity - Project: Ulu - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:fef97ab3db233e5af870 - Deposit or zone: NFN - Mining method: other #### Resource Data - Category: inferred - Tonnes: 184 - Grade: 4.96 - Grade Unit: g/t - Contained Metal: 29 - Contained Unit: koz - Cutoff Grade: 2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: Yes - Review Reason: contained\_metal\_scale\_conflict - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A smaller Inferred component for the pit-constrained Flood zone, providing some future potential but with lower confidence. \(Expanded from multi-commodity resource table for completeness.\) - Negative factor: Inferred category has lower confidence. Evidence · table > 4.96 Context: 184 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-57) Ulu · gold Needs review: contained\_metal\_scale\_conflict #### Identity - Project: Ulu - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:6889040c95280f28e316 - Deposit or zone: Sub-Total - Mining method: other #### Resource Data - Category: measured - Tonnes: 535 - Grade: 9.01 - Grade Unit: g/t - Contained Metal: 155 - Contained Unit: koz - Cutoff Grade: 2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: Yes - Review Reason: contained\_metal\_scale\_conflict - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: This is a high-grade Measured resource, which is a strong positive for project confidence and potential open-pit economics. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High-grade Measured resource in the pit-constrained Flood zone. - Positive factor: Measured category indicates high geological confidence. Evidence · table > 9.01 Context: 535 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-58) Ulu · gold Needs review: contained\_metal\_scale\_conflict #### Identity - Project: Ulu - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:88b944b5434374a2e7c2 - Deposit or zone: Sub-Total - Mining method: other #### Resource Data - Category: indicated - Tonnes: 1001 - Grade: 7.08 - Grade Unit: g/t - Contained Metal: 228 - Contained Unit: koz - Cutoff Grade: 2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: Yes - Review Reason: contained\_metal\_scale\_conflict - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A solid Indicated resource contributing to the pit-constrained inventory, showing good grade. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High-grade Indicated resource in the pit-constrained Flood zone. Evidence · table > 7.08 Context: 1,001 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-59) Ulu · gold Needs review: contained\_metal\_scale\_conflict #### Identity - Project: Ulu - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:d6068de241f443636e2f - Deposit or zone: Sub-Total - Mining method: other #### Resource Data - Category: indicated - Tonnes: 1536 - Grade: 7.76 - Grade Unit: g/t - Contained Metal: 383 - Contained Unit: koz - Cutoff Grade: 2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: Yes - Review Reason: contained\_metal\_scale\_conflict - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A solid Indicated resource contributing to the pit-constrained inventory, showing good grade. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High-grade Indicated resource in the pit-constrained Flood zone. Evidence · table > 7.76 Context: 1,536 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-60) Ulu · gold Needs review: contained\_metal\_scale\_conflict #### Identity - Project: Ulu - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:6fbbed74bdda449c18df - Deposit or zone: Sub-Total - Mining method: other #### Resource Data - Category: inferred - Tonnes: 2985 - Grade: 4.45 - Grade Unit: g/t - Contained Metal: 427 - Contained Unit: koz - Cutoff Grade: 2 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: Yes - Review Reason: contained\_metal\_scale\_conflict - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A smaller Inferred component for the pit-constrained Flood zone, providing some future potential but with lower confidence. \(Expanded from multi-commodity resource table for completeness.\) - Negative factor: Inferred category has lower confidence. Evidence · table > 4.45 Context: 2,985 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-61) Ulu · gold Needs review: contained\_metal\_scale\_conflict #### Identity - Project: Ulu - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:51e3b3d206701e36ac79 - Deposit or zone: Flood - Mining method: other #### Resource Data - Category: measured - Tonnes: 976 - Grade: 8.7 - Grade Unit: g/t - Contained Metal: 273 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: Yes - Review Reason: contained\_metal\_scale\_conflict - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: This is a high-grade Measured resource, which is a strong positive for project confidence and potential open-pit economics. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High-grade Measured resource in the pit-constrained Flood zone. - Positive factor: Measured category indicates high geological confidence. Evidence · table > 8.70 Context: 976 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-62) Ulu · gold Needs review: contained\_metal\_scale\_conflict #### Identity - Project: Ulu - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:954d62942e39ddcec63b - Deposit or zone: Flood - Mining method: other #### Resource Data - Category: indicated - Tonnes: 1119 - Grade: 7.09 - Grade Unit: g/t - Contained Metal: 255 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: Yes - Review Reason: contained\_metal\_scale\_conflict - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A solid Indicated resource contributing to the pit-constrained inventory, showing good grade. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High-grade Indicated resource in the pit-constrained Flood zone. Evidence · table > 7.09 Context: 1,119 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-63) Ulu · gold Needs review: contained\_metal\_scale\_conflict #### Identity - Project: Ulu - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:ea0d51c2b6d73df139ad - Deposit or zone: Flood - Mining method: other #### Resource Data - Category: indicated - Tonnes: 2095 - Grade: 7.84 - Grade Unit: g/t - Contained Metal: 528 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: Yes - Review Reason: contained\_metal\_scale\_conflict - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A solid Indicated resource contributing to the pit-constrained inventory, showing good grade. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High-grade Indicated resource in the pit-constrained Flood zone. Evidence · table > 7.84 Context: 2,095 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-64) Ulu · gold Needs review: contained\_metal\_scale\_conflict #### Identity - Project: Ulu - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:c602d80230217833fd08 - Deposit or zone: Flood - Mining method: other #### Resource Data - Category: inferred - Tonnes: 2572 - Grade: 4.41 - Grade Unit: g/t - Contained Metal: 365 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: Yes - Review Reason: contained\_metal\_scale\_conflict - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A smaller Inferred component for the pit-constrained Flood zone, providing some future potential but with lower confidence. \(Expanded from multi-commodity resource table for completeness.\) - Negative factor: Inferred category has lower confidence. Evidence · table > 4.41 Context: 2,572 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-65) Ulu · gold Needs review: contained\_metal\_scale\_conflict #### Identity - Project: Ulu - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:6e2239248eac8d5c7ca8 - Deposit or zone: NTK - Mining method: other #### Resource Data - Category: indicated - Tonnes: 29 - Grade: 6.44 - Grade Unit: g/t - Contained Metal: 6 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: Yes - Review Reason: contained\_metal\_scale\_conflict - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A solid Indicated resource contributing to the pit-constrained inventory, showing good grade. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High-grade Indicated resource in the pit-constrained Flood zone. Evidence · table > 6.44 Context: 29 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-66) Ulu · gold Needs review: contained\_metal\_scale\_conflict #### Identity - Project: Ulu - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:3ec3ce351ac2503328f2 - Deposit or zone: NTK - Mining method: other #### Resource Data - Category: inferred - Tonnes: 461 - Grade: 4.39 - Grade Unit: g/t - Contained Metal: 65 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: Yes - Review Reason: contained\_metal\_scale\_conflict - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A smaller Inferred component for the pit-constrained Flood zone, providing some future potential but with lower confidence. \(Expanded from multi-commodity resource table for completeness.\) - Negative factor: Inferred category has lower confidence. Evidence · table > 4.39 Context: 461 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-67) Ulu · gold Needs review: contained\_metal\_scale\_conflict #### Identity - Project: Ulu - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:1c64a3b69c789853848a - Deposit or zone: NFN - Mining method: other #### Resource Data - Category: indicated - Tonnes: 80 - Grade: 9.72 - Grade Unit: g/t - Contained Metal: 25 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: Yes - Review Reason: contained\_metal\_scale\_conflict - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A solid Indicated resource contributing to the pit-constrained inventory, showing good grade. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High-grade Indicated resource in the pit-constrained Flood zone. Evidence · table > 9.72 Context: 80 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-68) Ulu · gold Needs review: contained\_metal\_scale\_conflict #### Identity - Project: Ulu - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:37aac19569e0cbd4d7c7 - Deposit or zone: NFN - Mining method: other #### Resource Data - Category: inferred - Tonnes: 230 - Grade: 6.22 - Grade Unit: g/t - Contained Metal: 46 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: Yes - Review Reason: contained\_metal\_scale\_conflict - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A smaller Inferred component for the pit-constrained Flood zone, providing some future potential but with lower confidence. \(Expanded from multi-commodity resource table for completeness.\) - Negative factor: Inferred category has lower confidence. Evidence · table > 6.22 Context: 230 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-69) Ulu · gold Needs review: contained\_metal\_scale\_conflict #### Identity - Project: Ulu - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:8a21d738e1e3eb93aedb - Mining method: other #### Resource Data - Category: measured - Tonnes: 976 - Grade: 8.7 - Grade Unit: g/t - Contained Metal: 273 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: Yes - Review Reason: contained\_metal\_scale\_conflict - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: This is a high-grade Measured resource, which is a strong positive for project confidence and potential open-pit economics. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High-grade Measured resource in the pit-constrained Flood zone. - Positive factor: Measured category indicates high geological confidence. Evidence · table > 8.70 Context: 976 #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-70) Ulu · gold Needs review: contained\_metal\_scale\_conflict #### Identity - Project: Ulu - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:aaa7ad262b418fff8695 - Mining method: other #### Resource Data - Category: indicated - Tonnes: 1228 - Grade: 7.21 - Grade Unit: g/t - Contained Metal: 285 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: Yes - Review Reason: contained\_metal\_scale\_conflict - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A solid Indicated resource contributing to the pit-constrained inventory, showing good grade. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High-grade Indicated resource in the pit-constrained Flood zone. Evidence · table > 7.21 Context: 1,228 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-71) Ulu · gold Needs review: contained\_metal\_scale\_conflict #### Identity - Project: Ulu - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:ee1292370bf5554b49f1 - Mining method: other #### Resource Data - Category: indicated - Tonnes: 2204 - Grade: 7.87 - Grade Unit: g/t - Contained Metal: 558 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: Yes - Review Reason: contained\_metal\_scale\_conflict - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A solid Indicated resource contributing to the pit-constrained inventory, showing good grade. \(Expanded from multi-commodity resource table for completeness.\) - Positive factor: High-grade Indicated resource in the pit-constrained Flood zone. Evidence · table > 7.87 Context: 2,204 #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/blue-star-updates-its-ulu-gold-project-mineral-resource-estimate--4a03c394-23f7-4813-9741-4fb8afe0364f#fact-resource-facts-72) Ulu · gold Needs review: contained\_metal\_scale\_conflict #### Identity - Project: Ulu - Commodity: gold - Region: canada\_nu - Reported Region: Nunavut, Canada - Ticker: BAU #### Resource scope - Estimate type: resource - Effective date: 2026-05-15T00:00:00.000Z - Reporting standards: ni\_43\_101 - QP Signed: Yes - Qualified person names: David Burga - Resource group id: resource:ad5a864105aa70bbd109 - Mining method: other #### Resource Data - Category: inferred - Tonnes: 3263 - Grade: 4.54 - Grade Unit: g/t - Contained Metal: 476 - Contained Unit: koz - Cutoff Grade: 0.8 - Cutoff Unit: g/t Au #### Prior Estimate - Resource Date: 2026-05-15 #### Review - Needs Review: Yes - Review Reason: contained\_metal\_scale\_conflict - Historical: No #### Dates - Event date: 2026-05-21T00:00:00.000Z Reasoning: A smaller Inferred component for the pit-constrained Flood zone, providing some future potential but with lower confidence. \(Expanded from multi-commodity resource table for completeness.\) - Negative factor: Inferred category has lower confidence. Evidence · table > 4.54 Context: 3,263 #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Disclosed** Polarity: positive Definition: Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison. Why it applies: cutoff\_grade is stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.