Bluestone Announces Results from Annual General Meeting

VANCOUVER, BC, May 3, 2023 /CNW/ - Bluestone Resources Inc. (TSXV: BSR) (OTCQB: BBSRF) ("Bluestone" or the "Company") is pleased to announce the results of voting at its annual general meeting of shareholders which was held on May 3, 2023, in Vancouver, BC (the "Meeting").  Full details of all the voting results for the 2023 Meeting are available on SEDAR at www.sedar.com.

A total of 63,991,452 common shares, representing 42.3% of the votes attached to all outstanding shares as at the record date for the Meeting, were represented at the Meeting. All of the matters submitted to the shareholders for approval as set out in the Company's Notice of Meeting and Information Circular dated March 24, 2023, were approved by the requisite majority of votes cast at the Meeting.

The nominees for directors were elected as set out in the following table:

Leo Hathaway, who did not stand for re-election at the Meeting, was a member of the Bluestone Board of Directors since 2017, and served on the Audit Committee, the Corporate Governance and Nominations  Committee, and the Technical Committee.

Peter Hemstead, President and CEO commented, "We would like to thank Leo for his contributions to the Company; he has been a strong Board Member, providing insightful feedback and leadership experience, especially surrounding the improvements to our geological understanding of the Cerro Blanco deposit. On behalf of Bluestone's senior management team and our Board, we would like to thank Leo for his contributions and wish him the best in his future endeavours."

At the Meeting, shareholders also approved the appointment of PricewaterhouseCoopers LLP as auditors of the Company for the ensuing year, and the Company's amended Stock Option Plan was approved by disinterested shareholders.

About Bluestone Resources

Bluestone Resources is a Canadian-based precious metals exploration and development company focused on opportunities in Guatemala. The Company's flagship asset is the Cerro Blanco Gold Project, a near surface mine development project located in Southern Guatemala in the department of Jutiapa. The Company released the results of a Feasibility Study for the Project, outlining an asset capable of producing over 300 koz/yr at head grades of +2.0 g/t gold. The Project will produce 2.6 million ounces of gold over the life of mine at an all-in sustaining cost of $629/oz (as defined per World Gold Council guidelines, less corporate general and administration costs) over an initial 14-year mine life. The Company trades under the symbol "BSR" on the TSX Venture Exchange and "BBSRF" on the OTCQB.

On Behalf of Bluestone Resources Inc.

"Peter Hemstead"

Peter Hemstead | President, CEO & Director                                                         

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Bluestone Resources Inc.