Bluestone Announces Results from Annual General Meeting and Appoints New Board Chair

VANCOUVER, May 19, 2021 - Bluestone Resources Inc. (TSXV: BSR) (OTCQB: BBSRF) ("Bluestone" or the "Company") is pleased to announce the results of voting at its annual general and special meeting of shareholders which was held on May 19, 2021 by conference call (the "Meeting"). Full details of all the voting results for the 2021 Meeting are available on SEDAR at www.sedar.com.

The nominees for directors listed in Bluestone's management proxy circular dated April 14, 2021 were elected as set out in the following table:

After the Meeting, William Lamb was appointed by the Bluestone Board of Directors (the "Board") to take over as Chair in the place of John Robins.

John Robins served on the Board Corporate Governance and Nominations Committee, the Board Health, Safety, and Environment Committee, and as Chair of the Board.

Jack Lundin, President and CEO commented, "John was instrumental in the acquisition of the Cerro Blanco gold project, which transformed the Company to what it is today. He has been a strong Board Member, providing insightful feedback and leadership experience. John's vision in the natural resource space over the last 35 years has led to numerous discoveries and successes. On behalf of Bluestone's senior management team and our Board, we would like to thank John for his contributions and wish him the best in his future endeavours."

John Robins, former Chair commented, "It has been a pleasure to have had the opportunity to work with such a talented team both here in Vancouver and in Guatemala. Since acquiring Cerro Blanco in 2017 we have made significant progress in the development of the project both technically and socially, and I am proud to have been part of its evolution from a grass roots explorer to developer. I have every confidence in the Company to carry the project forward. I am grateful to have worked with such a great team and am thankful for the support of our shareholders, in particular the Lundin family."

Jack Lundin also commented, "As the Company transitions to a larger scale development, it is a natural transition to bring someone with success in open pit mining projects into the position of Board Chair for Bluestone. I have had the pleasure of knowing and working with William Lamb for many years. His experience in the industry and his dedication to operational excellence will be a valuable asset for us as we continue to efficiently advance our flagship Cerro Blanco gold project."

William Lamb
Mr. Lamb has over 23 years of experience in mining and operations in Canada and several Southern African countries. His background includes operational and project management in the precious metals, coal, chrome, and diamond sectors. Mr. Lamb spent 13 years with De Beers working across their operations in Southern Africa and Canada focusing on heavy mineral concentration, project development, and operational readiness. He joined Lucara Diamond Corp. in 2008 until 2018 and was instrumental in the acquisition of the AK6 asset, now the Karowe Mine, which has been brought into production as one of the world's most significant producers of large, high quality diamonds.

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 ~$642/oz (as defined per World Gold Council guidelines, less corporate general and administration costs) over an initial 11-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.

"Jack Lundin"

Jack Lundin | President, CEO & Director

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

SOURCE Bluestone Resources Inc.