Blue Jay Gold Corp. Completes Acquisition of the Skukum Gold Project from Tincorp Metals

~Acquisition adds substantial Yukon gold project to Company’s portfolio~

VANCOUVER, British Columbia, Sept. 30, 2025 (GLOBE NEWSWIRE) — Blue Jay Gold Corp. (“Blue Jay” or the “Company”) is pleased to announce that it has completed the previously announced acquisition (the “Transaction”) of Tincorp Metals Inc.’s (TSXV: “TIN”; OTCQX: “TINFF”, “Tincorp”) wholly-owned subsidiary, Whitehorse Gold (Yukon) Corp. (“Whitehorse Gold”), effective September 29, 2025. Whitehorse Gold holds a 100% interest in the Skukum Gold Project (the “Project”) located in Yukon, Canada.

“Closing the Skukum Project acquisition is a defining step for Blue Jay,” said Geordie Mark, CEO of Blue Jay. “The Yukon is an incredible jurisdiction with excellent geological potential, supportive frameworks and partners, and enjoys a rich culture steeped in mining history. Skukum is a cornerstone asset for us, and as a former production site, we believe the area represents a meaningful opportunity for lower-risk discovery and project reinvigoration. Our near-term focus is to test the growth potential of the mineralized systems in and around underground development areas, and mature new targets to sustain project longevity. We are committed to upholding our responsibilities in a manner that supports long-term value creation while aligning with our disciplined approach to capital allocation and community partnership.”

Under the terms of the share purchase agreement between the parties (the “Agreement”), the total consideration payable by Blue Jay for the acquisition of the shares of Whitehorse Gold was structured as two payments: (i) at closing, Blue Jay issued 500,000 common shares of the Company and 250,000 common share purchase warrants (each, a “Warrant”) to Tincorp, having an aggregate value of $300,000; and (ii) $275,000, payable in cash and/or shares of the Company at Blue Jay’s election, is to be paid to Tincorp on the first anniversary of the closing date. Each Warrant entitles Tincorp to acquire one additional common share at an exercise price of $0.90 per share for a period of two years from the date of issuance, subject to certain acceleration provisions.

For more information regarding the acquisition, see our press release announced June 4, 2025, and available on SEDAR.com

About Blue Jay

Blue Jay Gold Corp. is a Canadian gold exploration company focused on growing and discovering resources within established brownfields regions in Canada. The Company has built a portfolio of projects in Canada in highly sought after Tier 1 mining jurisdictions. With our strategically located projects and a leadership team experienced in geology and capital markets, Blue Jay Gold will advance disciplined, modern exploration strategies across projects in known gold mineralized regions across Canada.

ON BEHALF OF BLUE JAY GOLD CORP.
signed “Geordie Mark”
Geordie Mark, CEO

For additional information contact:

BLUE JAY GOLD CORP.

Cautionary Note Regarding Forward-Looking Statements

This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and U.S. securities legislation. All statements, other than statements of historical fact included in this release, including, without limitation, statements regarding the exploration and development potential of the Project, the potential of future payments under the Agreement and the preparation of a technical report are forward-looking statements.

Forward-looking statements are often, but not always, identified by words or phrases such as “expects”, “is expected”, “anticipates”, “believes”, “plans”, “projects”, “estimates”, “assumes”, “intends”, “strategies”, “targets”, “goals”, “forecasts”, “objectives”, “budgets”, “schedules”, “potential” or variations thereof or stating that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative of any of these terms and similar expressions. These statements are based on the opinions, assumptions, factors and estimates of management considered reasonable as of the date such statements are made. Assumptions include, but are not limited to, the ability to obtain and maintain governmental approvals, permits, and licenses in connection with the Company’s planned development and exploration activities at the Company’s projects.

Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements which involve the state of equity financing markets, volatility of market prices, and fluctuations in metal prices.

Although Blue Jay has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results to differ. Readers are cautioned not to place undue reliance on these statements, and Blue Jay undertakes no obligation to update or revise any forward-looking statements, except as required by applicable law.