Mr. Rana Vig reports

BLUE LAGOON ANNOUNCES PRIVATE PLACEMENT

Blue Lagoon Resources Inc. has arranged a private placement financing of units at a price of 25 cents per unit for gross proceeds of up to $2-million. The financing may close in multiple tranches with the first tranche scheduled to close on March 3, 2025.

Each of the units comprises one common share of the company and one-half of one common share purchase warrant. Each whole warrant is exercisable into one common share of the company at an exercise price of 35 cents per share for period of two years from the date of issuance.

Proceeds of the offering will be used mainly toward finishing the company's water treatment plant at its Dome Mountain gold project that received its mining permit on Feb. 6, 2025. The common shares will be subject to a hold period expiring four months and one day from the date of issuance. The offering is subject to acceptance by the Canadian Securities Exchange.