VANCOUVER - Blue Lagoon Resources Inc. (the 'Company') (CSE: BLLG) (FSE: 7BL) (OTCQB: BLAGF) is pleased to provide the following update on its Dome Mountain Gold / Silver Project, an all-year road accessible project located a short 50-minute drive from Smithers B.C., that holds both an Environmental Management Act Permit (EMA) and a Mining Permit providing for up to 75,000 tonnes production annually.
In addition, the property has 15 known high grade gold veins with 90% of the nearly 19,000 hectare property yet to be explored.
PROCESSING OF MINERALIZED MATERIAL BEGINS
The Company is pleased to report that on Friday July 2, 2021, the Company's toll milling partner, Nicola Mining, started the processing of the mineralized material from its Dome Mountain underground mine. Shipping of the mineralized material, which began on June 14, 2021, has gone smoothly with approximately 15 trucks leaving the mine site on a weekly basis. To date 44 - forty ton trucks - have been dispatched to Nicola, delivering some 1700 tonnes of the Dome Mountain high-grade mineralized material. Daily shipments are expected to continue until all 6,000 plus tonnes of material have been removed from the underground mine and processed at the Nicola Mining mill.
'It was an honour to be hosted by Nicola's President, Peter Espig, and be on site to witness firsthand the very first Dome Mountain mineralized material get crushed and readied for processing,' said Rana Vig, President and CEO of Blue Lagoon Resources. 'In fourteen short months since acquiring this mine, our team has laser beam focused on execution, delivering unprecedented results for this project. And although we have successfully hit numerous important milestones, perhaps none has been as important and as rewarding as witnessing 'our' mineralized material being processed and readied for conversion into gold and silver,' he added.
Once processed and converted, the concentrate produced from processing the Dome mineralized material will be sold to Ocean Partners UK Limited, a leading European based commodities trading company with offices in six countries around the world. Payment to both Nicola Mining and the Company will be based on every 50 tonnes of concentrate material received by Ocean Partners.
With the last underground mining at Dome Mountain taking place in 1992, the Company announced on June 7, 2021, that it estimated that more than 6,000 tonnes of high-grade mineralized material was never removed and remained stored underground. In September 2017, over 5,000 tonnes of this mineralized material that is currently being shipped to Nicola Mining for processing, was assayed and yielded the following results.
The above results of quantity and grade provide a range only and are insufficient to define a mineral resource. There can be no assurance that a mineral resource will be defined from further exploration.
The company will evaluate a production decision once all permit requirements are in place. 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.
Contact:
Rana Vig
Tel: 604-218-4766
Email: rana@ranavig.com
This release includes certain statements that may be deemed 'forward-looking statements'. All statements in this release, other than statements of historical facts, that address events or developments that Blue Lagoon Resources Inc. (the 'Company') expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words 'expects', 'plans', 'anticipates', 'believes', 'intends', 'estimates', 'projects', 'potential' and similar expressions, or that events or conditions 'will', 'would', 'may', 'could' or 'should' occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include results of exploration activities that may not show quality and quantity necessary for upgrading mineralization classification or for further exploration and exploitation of minerals deposits, market prices, and continued availability of capital and financing, permitting and other approvals, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements.
Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
BLUE LAGOON RESOURCES INC. 
