Blue Lagoon announces results from 2022 soil sampling program and identifies new high priority zones for further investigation in 2023

December 12, 2022 – Vancouver, British Columbia, Canada – Blue Lagoon Resources Inc. (the “Company”) (CSE: BLLG; FWB: 7BL; OTCQB: BLAGF) announces results from its 2022 soil sampling program at its Dome Mountain Gold Project, a year-round property just 50 minutes’ drive from Smithers, BC, Canada.

The 2022 soil sampling program has resulted in the identification of high priority targets for further investigation in 2023.

The summer program consisted of 2,175 samples covering new areas as well as infill drilling from previous drilling campaigns (Figure 1). To date, 6,394 soil samples have been collected (excluding quality control samples) since the Company acquired the 2020 Dome Mountain Gold Project.

Most samples were taken at 25 or 50 meter locations along lines 200 meters apart.

Anomalous Pathfinder elements associated with high gold values ​​at the Boulder Vein include antimony, zinc, lead and silver. Noranda first drilled the Boulder vein system at the Dome Mountain project in 1985 based on zinc-in-soil anomalies. After over 45,000 meters of core drilling on the Boulder vein, zinc is considered the primary tracer element at Dome Mountain due to its correlation with core samples containing high-grade gold. However, based on a more comprehensive database, cadmium may be a better soil tracer element for the targeted wells (Figures 2 and 3). Figure 4 is a concise map showing the importance of light Cd anomalies in relation to known gold mineralization.

Zinc shows a high correlation to drilled gold, but the zinc-in-soil response results in broader, less defined targets compared to cadmium (Cd). Figure 2 shows Cd anomalies and Au in soil. Here we see small Cd anomalies that support the anomalous gold values ​​drilled to date and give us precise targets for follow-up testing in 2023.

The large gold-in-soil anomaly in the lower right of the figures is due at least in part to Federal Creek alluvial deposition. However, there is a small coincident cadmium anomaly south of the creek that requires further exploration.

Follow-up targets have been set for the 2023 summer field season (figure 8).

Figure 1: Map of soil samples collected at the Dome Mountain project. Samples from 2020 are shown in green, 2021 in yellow and 2022 in red

Figure 2: Cadmium with gold in soil at the Dome Mountain Gold Project

Figure 3: Cadmium in soil at the Dome Mountain Gold Project

Figure 4

Figure 5: Arsenic with gold in soil at the Dome Mountain Gold Project

Figure 6: Antimony with gold in soil at the Dome Mountain Gold Project

Figure 7: Zinc with gold in soil at the Dome Mountain Gold Project

Figure 8: Connection dimensions

Quality assurance and control

The company has sent 2,175 soil samples collected at the Dome Mountain Gold Project in late 2021 for analysis. Quality assurance and control samples consisted of field duplicates collected at a ratio of 1 to 25 per routine test.

test protocols

Soil samples were collected by two-person teams equipped with spades and/or augers. Samples were taken from the B horizon at depths from 10 cm to 90 cm. The sampling distance along the lines varied from 25 to 50 meters depending on location and target area, and the lines were 200 meters apart.

Sample data collected at sample sites included location, sample depth, color, moisture content, consistency (sand, silt, clay), and percentage, angularity, and lithology of pebbles and/or boulders. The samples collected amounted to almost 1 kg of material and were placed in a Hubco sample bag. At the end of the day, all samples were deposited in the company’s secure storage facility where they dried on shelves for at least a week before shipping to ALS Minerals’ laboratory in North Vancouver, BC, Canada.

ALS sample preparation was performed using the Prep 41 method (dry and sieve to -80 mesh). This was followed by gold analysis using the Au-AA24 method (by fire assay) and for 48 elements using the ME-MS61 method (hydrofuric acid digestion with ICP-MS finish).

The scientific and technical data contained in this news release has been approved by William Cronk, P.Geo., acting as a Qualified Person as defined by NI 43-101 and as a consultant to the Company.

For more information, contact:

Rana Vig

President and CEO

Phone: 604-218-4766

Email: rana@ranavig.com

The Securities and Exchange Commission of the CSE has not reviewed this release and assumes no responsibility for the accuracy or adequacy of this release.

Caution Regarding Forward-Looking Information: This press release contains certain statements that may constitute “forward-looking statements.” All statements in this release, other than statements of historical fact, relate to events or developments that Blue Lagoon Resources Inc. (the “Company”) expects to take place are forward-looking statements. Forward-looking statements are statements that are not historical facts and may be, but are not always, limited to words such as “expects,” “plans,” “anticipates,” “believes,” “intends,” “estimates,” “projects “. “. ‘, ‘potential’ and similar expressions to indicate that events or circumstances ‘will’, ‘would’, ‘may’, ‘could’ or ‘should’ occur. Although the Company believes that 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 actual results to differ materially from those in the forward-looking statements include, among others the results of exploration activities that may not be of the quality and quantity necessary for continued exploration or future exploration mineral deposits, volatility in gold and silver prices, the continued availability of capital and financing, permits and other approvals and general economic, market or business conditions .Investors are cautioned that such statements are not guarantees of future performance , and actual results or developments may differ materially from those anticipated in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and beliefs of the Company’s management as of the date of the statements. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements if management’s beliefs, estimates or opinions or other factors change.

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