Bluejay Mining PLC Kangerluarsuk Update and Receipt of Funds

TIDMJAY

Bluejay Mining PLC

22 February 2023

Bluejay Mining plc / EPIC: JAY / Market: AIM / Sector: Mining

22 February 2023

Bluejay Mining plc ('Bluejay' or the 'Company')

Kangerluarsuk Update and Receipt of Funds

Bluejay Mining plc, the AIM, FSE listed and OTCQB traded exploration and development company with projects in Greenland and Finland, is pleased to announce an update at the Company's 100% owned Kangerluarsuk Lead-Zinc-Silver (+/- Copper-Germanium) Project ("Kangerluarsuk" or the "Project").

Further to the announcement on 14 February 2023, the first tranche of $2 million USD has now been received from Towards Net Zero LLC. These proceeds will be used to fund this summer's proposed maiden drilling campaign at Kangerluarsuk.

A detailed technical presentation prepared by Bluejay Mining's Vice President Exploration, Joshua Hughes, regarding the Kangerluarsuk opportunity is available here: http://bluejaymining.com/wp-content/uploads/2023/02/Kangerluarsuk-Slides-Final-Feb-2023.pdf

Joshua Hughes, Vice President Exploration of Bluejay Mining plc, commented:

"Bluejay are pleased to be able to share a technical presentation on Kangerluarsuk, illustrating the vast wealth of geological, geophysical and geochemical data which has been collected over the Project by Bluejay and by previous operators and government-funded programmes, all of which speaks to the outstanding potential for discovery that we recognise within our licence areas and underpins our drill target selection for the upcoming maiden drill programme. Remarkably, our licence areas have never received a single drill hole, despite the presence of high-grade, outcropping zinc-lead-silver mineralisation and their proximity to Black Angel, the most significant base metal mine in Greenland to date. Both geological and logistical planning is well underway to prepare for the drilling at Kangerluarsuk this summer. The tendering process is nearing conclusion and we expect to finalise contracts with key service providers over the coming weeks. We look forward to updating shareholders with the further details on the planned drilling and a summary of the drill targets shortly".

For further information please visit http://www.bluejaymining.com or contact:

 
 Kevin Sheil          Bluejay Mining plc              [e-mail] 
                     ------------------------------  -------------------------- 
 Ewan Leggat/ Adam    SP Angel Corporate Finance 
  Cowl                 LLP (Nominated Adviser)        [phone] 
                     ------------------------------  -------------------------- 
                      Hannam & Partners (Advisory) 
 Andrew Chubb          LLP                            [phone] 
                     ------------------------------  -------------------------- 
 Tim Blythe/ Megan 
  Ray                 BlytheRay                       [phone] 
                     ------------------------------  -------------------------- 
 

**ENDS**

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February 22, 2023 02:00 ET (07:00 GMT)