Bluestone Resources Inc. (TSX-V: BSR) (OTCQB: BBSRF) is pleased to announce additional high-grade drill assays from its ongoing infill resource conversion program at its Cerro Blanco Gold project.

The focus of the current drill program is the conversion of Inferred Resources within key veins in the upper part of the Cerro Blanco ore body and vein extensions outside of the current resource. The Cerro Blanco Feasibility Study (see press release January 29, 2019) highlighted 357,000 ounces of Inferred Resources (1.4 Mt grading 8.1 g/t Au) that could be potentially converted to Measured and Indicated Resources through infill drilling.

Darren Klinck, President and CEO commented, “We are pleased with the continued success of the infill drill program in the North Zone of the deposit which has been a focus for us the last six months. We expect to put out an updated resource later this year reflecting the additional information generated from the drilling in the North Zone. As well, with the positive impact this program will ultimately have on adding value to the Cerro Blanco project, we are continuing to drill, shifting our focus to the South Zone for the next several months.”

Highlights from initial results in the South Zone, include hole UGCB19-147 which was drilled at minus 15 degrees to the north in the South Zone underground workings and intercepted a total of seven sub-parallel sheeted veins, including Vein VS_06 which assayed 11.2 g/t Au and 78 g/t Ag over 13.7 meters.

Table 1. Significant Intercepts – North and South Zones (this Press Release)

Notes: Intervals in bold are cited in the text of the press release. Only intercepts averaging over 3 g/t Au when diluted to a minimum 3 meters true width are stated. Hole coordinates and azimuth/dip information accompany the plan view attached to this release.

Holes UGCB19-145 and UGCB19-146 were drilled steeply upwards and designed to test for extensions of veins VN_01, 02, and 05 within the upper Salinas conglomerates/sinter zone. No significant intercepts were drilled, only narrow, low-grade veins, in line with the current model that the veins diminish within this upper silicified unit.

Holes UGCB19-148 to UGCB19-152 are a series of holes drilled at horizontal to positive angles (upwards) from 4 individual platforms in the North Zone underground workings and intercepted targeted veins including 4.4 meters at 21.7 g/t Au and 2.3 meters at 49.2 g/t Au in UGCB19-150 and UGCB19-152, respectively.

Hole CB19-411 drilled from surface successfully intercepted all targeted veins including 9.5 meters (9.1 meters true width) grading 7.2 g/t Au and 16 g/t Ag (Vein VN_11). Of note, Vein VN_10, which assayed 4 meters grading 13 g/t Au, was extended approximately 75 meters down-dip of its exposure in the North Zone underground workings.

A plan showing drill hole locations can be accessed by clicking HERE.

Precious metal mineralization at Cerro Blanco is associated with classic low sulphidation adularia-sericite epithermal quartz veins and vein swarms hosted in altered sequence of volcanoclastic and sedimentary rocks. Higher grades (>20 g/t Au and >60 g/t Ag) are associated with visible gold and silver sulphides in ginguro-style colloform-banded veins.

Quality Analysis and Quality Control

Assay results listed within this release were performed by Inspectorate Laboratories, a division of Bureau Veritas, which are ISO 17025 accredited laboratories. Logging and sampling are undertaken on site at Cerro Blanco by Company personnel under a QA/QC protocol developed by Bluestone. Samples are transported in security-sealed bags to Inspectorate, Guatemala City, Guatemala, for sample preparation. Sample pulps are shipped to Inspectorate Laboratories in Vancouver, BC, Canada or Reno, NV, USA, and assayed using industry-standard assay techniques for gold and silver. Gold and silver were analyzed by a 30-gram charge with atomic absorption and/or gravimetric finish for values exceeding 5 g/t Au and 100 g/t Ag. Analytical accuracy and precision are monitored by the analysis of reagent blanks, reference material, and replicate samples. Quality control is further assured by Bluestone’s QA/QC program, which involves the insertion of blind certified reference materials (standards) and field duplicates into the sample stream to independently assess analytical precision and accuracy of each batch of samples as they are received from the laboratory. A selection of samples is submitted to ALS Chemex Laboratories in Vancouver for check analysis and additional quality control.

Qualified Person

David Cass, P.Geo., Vice President Exploration, is the designated Qualified Person for this news release within the meaning of National Instrument 43-101 and has reviewed and verified that the technical information set out above in this news release is accurate and therefore approves this written disclosure of the technical information.

About Bluestone Resources

Bluestone Resources is a mineral exploration and development company that is focused on advancing its 100%-owned Cerro Blanco Gold and Mita Geothermal projects located in Guatemala. A Feasibility Study on Cerro Blanco returned robust economics with a quick pay back. The average annual production is projected to be 146,000 ounces per year over the first three years of production with all-in sustaining costs of $579/oz (as defined per World Gold Council guidelines, less corporate general and administration costs).