Mr. Rana Vig reports

BLUE LAGOON CONTINUES TO STRENGTHEN TREASURY TO FUND FINAL PREPARATIONS OF MINE SITE AND INITIAL WORKING CAPITAL TO FUND COMMENCEMENT OF PRODUCTION

Blue Lagoon Resources Inc. has closed a third tranche of its previously announced non-brokered private placement, bringing the total funds raised across the three tranches to $2,646,750. In this third tranche, the company issued 5,397,000 units at a price of 25 cents per unit, raising gross proceeds of $1,349,250.

"We are very pleased to close another successful tranche of our financing, which saw participation from both new and existing shareholders," said Rana Vig, president and chief executive officer of Blue Lagoon Resources. "This continued support underscores the confidence in our vision as we move closer to commencing gold and silver production at Dome Mountain.

These funds will be instrumental in completing the final preparations of the mine site, including the completion of our water treatment facility and will also provide initial working capital to support the transition to production," he said.

Each unit in the offering consists of one common share in the capital of the company and one-half of one transferrable common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share of the company at an exercise price of 35 cents per share until March 28, 2027.

The proceeds raised from the offering are expected to be used to finish the installation of the water treatment facility at the mine site, other preparatory work and for general corporate purposes. The securities issued under the Offering are subject to a four-month hold period expiring on July 29, 2025, in accordance with applicable Canadian securities laws.

Any production decision in advance of obtaining a feasibility study of mineral reserves demonstrating economic and technical viability of the project is associated with increased uncertainty and risk of failure.

About Blue Lagoon Resources Inc.

Blue Lagoon Resources is a Canadian-based publicly listed mining company focused on building shareholder value through the aggressive development of its 100-per-cent-owned Dome Mountain gold project. The company is run by professionals with significant finance and mining experience and operates within a prime mining jurisdiction in British Columbia, Canada. With the granting of a full mining permit, a key milestone achieved in February, 2025 -- one of only nine such permits issued in British Columbia since 2015 -- Blue Lagoon is now focused on last preparatory activities and tasks related to the safe and secure opening of the Dome Mountain gold mine, targeting the third quarter of 2025 as the start of gold production.

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