NEW YORK, May 06, 2026 (GLOBE NEWSWIRE) -- Blue Gold Limited (NASDAQ:BGL) ("Blue Gold" or the "Company"), a next-generation gold exploration, development and mining company, today provided an update on its arbitration proceedings against the Republic of Ghana, administered by the Permanent Court of Arbitration ("PCA") under PCA Case No. 2025-21.

The $1bn plus arbitration between Blue Gold, Future Global Resources Limited ("FGRL"), and the Government of Ghana commenced on April 2, 2025 pursuant to the Agreement between the Government of the United Kingdom of Great Britain and Northern Ireland and the Government of the Republic of Ghana for the Promotion and Protection of Investments, signed on March 22, 1989 ("the Treaty"). The PCA serves as registry in the arbitration.

On 27 February 2026, Ghana requested the Tribunal to split (or "trifurcate") the case into three separate stages: a first stage to address the Tribunal's jurisdiction, a second stage to address Ghana's liability (if needed), and a third stage to finally address any damages issues (if also needed).

On 13 March 2026, the Company, together with FGRL, submitted their joint response.

On 10 April 2026, the Tribunal issued its Procedural Order No. 3, rejecting Ghana's request. As the Tribunal stated (in its order published by the PCA), it was "not persuaded that bifurcation or trifurcation is appropriate at this stage", citing, among other things, the potential overlap between Ghana's objections and the factual matrix underlying the merits of the dispute, as well as the risk of duplication of time, cost and effort.

Responding to this decision, Andrew Cavaghan, CEO of Blue Gold, stated, "We welcome the Tribunal's decision which ensures the merits of the Company's Treaty claims will now be decided by the international tribunal on a single, consolidated track much more quickly and efficiently than it would otherwise have been. Blue Gold remains focused on advancing its claims in a disciplined and constructive manner, while remaining open to a constructive resolution with the Republic of Ghana, for as long as this remains possible."

Represented by Mayer Brown, the Company will now continue preparing its Memorial on the Merits, the next substantive filing in the arbitration.

Further details on the case can be found on the PCA's website here: https://pca-cpa.org/en/cases/374/.

About Blue Gold Limited

Blue Gold Limited (NASDAQ:BGL) is a next-generation gold exploration, development and mining company focused on acquiring and aggregating high-potential mining assets across strategic global jurisdictions. The Company's mission is to unlock untapped value in the gold sector by combining disciplined resource acquisition with innovative monetization models, including asset-backed digital instruments. Blue Gold is committed to responsible development, operational transparency, and leveraging modern financial technologies to redefine how gold is produced, accessed, and owned in the 21st century.

Blue Gold prioritizes growth, sustainable development, and transparency in all our business practices. We believe that our commitment to responsible mining will enable us to create value for our shareholders while minimizing our environmental footprint.  

Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of the safe harbor for forward-looking statements provided by Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. You are cautioned not to place undue reliance on these forward-looking statements, which are current only as of the date of this press release. Each of these forward-looking statements involves risks and uncertainties. Important factors that could cause actual results to differ materially from those discussed or implied in the forward-looking statements include, but are not limited to: general economic or political conditions; negative economic conditions that could impact Blue Gold Limited and the gold industry in general; reduction in demand for Blue Gold Limited's products; changes in the markets that Blue Gold Limited targets; and any change in laws applicable to Blue Gold Limited or any regulatory or judicial interpretation. As a result, we cannot assure you that the forward-looking statements included in this press release will prove to be accurate or correct. These and other important factors and risks are discussed in Blue Gold Limited's shell company report on Form 20-F, filed with the U.S. Securities and Exchange Commission (the "SEC") on July 1, 2025, and other filings with the SEC. In light of these risks, uncertainties, and assumptions, the future performance or events described in the forward-looking statements in this press release might not occur. Accordingly, you should not rely upon forward-looking statements as a prediction of actual results, and we do not assume any responsibility for the accuracy or completeness of any of these forward-looking statements. Except as required by applicable law, we do not undertake any obligation to, and will not, update any forward-looking statements, whether as a result of new information, future events, or otherwise. For more information regarding Blue Gold Limited, please visit https://bluegoldltd.com.

No Offer or Solicitation

This press release shall not constitute a solicitation of a proxy, consent, or authorization with respect to any securities. This press release shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption.

For Further Information Contact:

Dave Gentry

RedChip Companies, Inc.

1-800-REDCHIP (733-2447)

1-407-644-4256

BGL@redchip.com

Blue Gold Announces Important Procedural Success in Arbitration Against the Republic of Ghana