Timberline Resources

Bluestone Resources Announces Management Change

VANCOUVER, BC, April 8, 2021 /CNW/ - Bluestone Resources Inc. (TSXV: BSR) (OTCQB: BBSRF) ("Bluestone" or the "Company") announced today that Darren Klinck, President of Bluestone Resources will be stepping down from his role effective April 15, 2021. Mr. Klinck will also be resigning from the Bluestone Board of Directors at that time. Jack Lundin has been appointed President and CEO of the Company effective April 15, 2021.

Jack Lundin commented, "On behalf of Bluestone Resources, I would like to take this opportunity to thank Darren for his hard work and dedication to the Company. Darren's commitment to driving the Cerro Blanco Project forward over the past four years has been instrumental to leading us to where we are today. We now have a clear path to move the optimized Cerro Blanco Project forward and I know Darren will continue to be an ambassador for this exciting Project and Company."

Darren Klinck commented, "Since joining Bluestone in 2017 with the acquisition of the Cerro Blanco Project, I am very proud to have worked alongside a first-class team in Canada and Guatemala to advance and de-risk the project to where it is today as one of the most exciting late-stage development projects in the industry. In consultation with key stakeholders, the Company has made the important strategic decision to pivot to a project that better realizes the true value of the Cerro Blanco opportunity and this is the right time to streamline and align the business objectives, including adjusting to the appropriate management structure going forward."

Mr. Klinck added, "I would also like to thank the Bluestone Board of Directors for their dedicated commitment and support. I look forward to following the Company's progress closely and wish Jack, the Board, and the teams in Canada and Guatemala, enormous success as they advance over this next phase of the project toward creating meaningful opportunities for the people of Guatemala."

About Bluestone Resources

The Cerro Blanco gold project is an advanced stage near surface development project. A PEA on the Project highlighted an asset capable of producing over 300 koz/yr with an average annual production of 231 koz/yr at all-in sustaining costs of ~$640/oz (as defined per World Gold Council guidelines, less corporate general and administration costs) over an initial 11-year mine life (see technical report Cerro Blanco 2.0 Preliminary Economic Assessment dated February 28, 2021). The Company trades under the symbol "BSR" on the TSX Venture Exchange and "BBSRF" on the OTCQB.

On Behalf of Bluestone Resources Inc.

"Jack Lundin"

Jack Lundin | Chief Executive Officer & 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.

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Bluestone Resources

Last Trade: C$1.55
Daily Change: -0.03 -1.90
Daily Volume: 47,055
Market Cap: C$222.500M
Bluestone Resources Files Preliminary Economic Assessment for the Optimized Cerro Blanco Gold Project
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Bluestone Resources Increases NPV of Cerro Blanco by over 275% to $907 Million and Peak Gold Production to over 300 koz per Year
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Bluestone Resources Grants Stock Options
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