2022 Disko-Nuussuaq Field Program Completed

LONDON, UK - Bluejay Mining plc. reported on the successful completion of the 2022 work program at its Green Transition and Battery Metals Disko-Nuussuaq (Disko) Project, on behalf of Nikkeli Greenland A/S, the Joint Venture (JV) company created by Bluejay and its JV partner KoBold Metals.

Kurt House, CEO, said, "Our joint exploration campaign on Disko Island this summer was a significant step forward. We've identified many novel targets and significantly updated our exploration hypotheses. We are looking for what we think could be the most significant nickel and cobalt discoveries in 100 years."

Bo Holler Stensgaard, CEO, commented, "I am excited to report that our first JV exploration campaign with KoBold at Disko-Nuussuaq has been completed successfully. The exploration work performed this summer forms the basis of what we hope will become a globally significant exploration find.

"We are particularly encouraged by the preliminary results we have received to date. At the Igdlukunguak target area on the north coast of Disko Island, the location of the notable historical discovery of the 28 tons Igdlukunguak massive-sulphide boulder (which assayed 6.9% Ni, 3.7% Cu, 0.6% Co and 2g/t PGM), the SAMSON ground program showed a 600m encouragingly strong, continuous late time EM anomaly with slow decay. This new SAMSON identified anomaly is coincidental with historic geophysical anomalies and is proximal to known mineralization. This exciting early result, which could potentially represent a target for future drilling for a mineralized body, is just one of the early results from the extensive work program carried out this summer. Numerous other target areas at both Disko Island and Nuussuaq Peninsula were surveyed, and the output is currently being analyzed. Once received, the full exploration results will be tied into 2023 exploration plans, and we look forward to updating the market on this.

"The Company is looking to identify a new Battery Metals district which is essential to supporting the global shift to green energy and net zero targets.

Both Bluejay's own employees and contracted staff, together with KoBold Metals' employees participated in the field work. Our local expertise and experience together with KoBold's outstanding team of experts in the fields of mineralizing systems, geophysical and data science, provides a collaborative and complementary match that should enable us to advance quickly into the next phase of work at Disko. We would like to thank the local communities around the project area for their hospitality, service and support throughout the field program. In addition, we would like to acknowledge the important contributions from local contractors involved in the execution of the activities and the support from Greenland's authorities.

"In total, 2022 represents the most comprehensive exploration campaign ever carried out by Bluejay, a true testament to our operating capabilities in the region."