BLUE RIVER ANNOUNCES AMENDMENT TO NON-BROKERED PRIVATE PLACEMENT ( BXR.V ) ( US: BRVRF )

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Blue River amends financing terms

2021-06-23 18:14 ET - News Release

Mr. Griffin Jones reports *BLUE RIVER ANNOUNCES AMENDMENT TO NON-BROKERED PRIVATE PLACEMENT  ( 
BXR.V )   (  US: BRVRF )*

Blue River Resources Ltd., further to its news release of April 26, 
2021, and subject to the approval of the TSX Venture Exchange, proposes to 
raise up to *$650,000 through a non-brokered private placement through the
issuance of up to 43,333,333 units at a price of 1.5 cents per unit.*

Each Unit will consist of one common share (a "Share") in the capital of
the Company and one transferable share purchase warrant (a "Warrant") 
with each Warrant exercisable to purchase one additional Share of the Company 
at a price of $0.05 per Share for a period of 3 years from the date of 
closing of the Private Placement.

Pursuant to the Exchange bulletins dated April 8, 2020, December 15, 
2020 and June 17, 2021 regarding temporary relief of $0.05 minimum pricing
requirement, the Company has submitted an application to the Exchange 
for approval of the minimum waiver.

Finders' fees may be paid to qualified parties in connection with the
Private Placement.

All securities issued in connection with the Private Placement are 
subject to a 4-month hold period in Canada and the Exchange Hold Period.

The following is a summary of the use of proceeds allocation.

                   USE OF PROCEEDS SUMMARY

Type of expense
Estimated cost ($)

Exploration expenses on Castle project -- geophysical survey, report
 $171,500
Management and consulting fees ($19,000 per month)                      
$171,000
Commissions
                                                              $30,000
Office rent, telecom, administration ($4,000 per month)
                  $48,000
Audit and accounting fees
                                                $30,000
Regulatory fees -- transfer agent (monthly fees times 12,
plus any outstanding due and owing)
                                      $16,000
Regulatory fees -- TSX Venture Exchange annual sustaining fee
             $5,500
Regulatory fees -- next Q4 fees to BCSC and ASC, and SEDAR system fees
    $8,000
Stock option plan TSX-V fees
                                             $30,000
Unallocated
 $140,000
Total                                                                   
$650,000

The proceeds from the Private Placement will be used for mineral
exploration on the Company's Castle Copper project, located between 
Copper Mountain Mining and Kodiak Copper on the prolific Nicola Volcanic Trend,
within the larger Quesnel Trough Copper belt, and for general working
capital.

www.blueriv.com

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