Blue Lagoon files NI 43-101 Technical Report on Pellaire – continues to advance Project

ID: 1554755
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(businesspress24) - Blue Lagoon files NI 43-101 Technical Report on Pellaire - continues to advance Project

This news release is not for distribution to U.S. newswire services for dissemination in the United States.

Vancouver, BC - December 16, 2019 - Blue Lagoon Resources Inc. (the Company), (CSE:BLLG - WKN:A2PNJ8 - FWB:7BL - OTC:BLAGF) is pleased to announce that it has completed the first NI 43-101 Technical Report on its Pellaire gold project. The technical Report was prepared by Richard Goodwin, P. Eng., of JDS Energy and Mining, one of the most respected and trusted organizations in the mining industry. Additional support in the preparation of the report was provided by Alicia Carpenter, P.Eng.

A copy of the Report can be found on the Companys profile on Sedar at

Im very pleased that we now have a NI 43-101 technical report on Pellaire, which I consider to be an excellent project. We plan on advancing this project this coming summer and fall with our exploration drill program, said Rana Vig, President & CEO of Blue Lagoon Resources. In a very short time we have been able to accomplish much for Blue Lagoon. We are extremely focused on building shareholder value by advancing the projects that we currently have, as well as seeking to acquire undervalued assets that we believe can be advanced with our business acumen and expertise. he said.

Blue Lagoon Resources Progress and Milestones to date

July 2019--
- Begins trading on the CSE under the symbol BLLG.
- Completes purchase of the Golden Wonder property, now owning it 100% outright.

August 2019-
- Completes Phase One program on its Golden Wonder project.
- Acquires the Pellaire Gold project near Williams Lake, BC.

September 2019-
- Approved for trading on the OTC Pink market under the symbol BLAGF thereby expanding the investing audience into the United States, being one of the biggest investing markets in the world.

- Lists on the Frankfurt Stock Exchange, the largest stock exchange in Germany and one of the largest markets for trading equity securities in the world, under the symbol 7BL.
- Adds senior geologist Bill Cronk, PGeo., to Blue Lagoons team as chief geologist.
- Releases grab sample results from Pellaire Phase One program.
- Announces $1 million financing at $1 per share.
- Closes the first $300,0000 tranche of the financing with the Companys CEO

October 2019
- Closes a $250,000 second tranche of the previously announced financing.
- Begins planning 2020 drill program for its Pellaire Gold project.
- Releases info on Soil samples collected from Pellaire Phase One program.

November 2019
- Closes a $450,000 third, and a $100,000 fourth, final tranche of the financing, bringing the total money raised to $1.1 Million.
- Announces an LOI to pursue a 70/30 JV opportunity with Quebec based Mag One Operations.
- Announces results from the Phase One program on its Golden Wonder property.

December 2019
- Announces signing of an option agreement to acquire the Gordon Lake Gold property located in Canadas Northwest Territories.
- Completes a NI 43-101 Technical Report on its Pellaire Gold property.
- Begins to develop an initial work plan for the Gordon Lake Gold property to commence in January / February 2020 which is expected to consist of project level compilation, GIS update and assessment and a 2020 phase one drill program.

For further information, please contact:
Rana Vig
President and Chief Executive Officer
Telephone: +16042184766
Email: ranavig(at)

*Source: NI 43-101 Report Gordon-Venn Lake Property Technical Report - Aurora Geosciences Ltd. June 29, 2011.

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The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Certain information contained herein constitutes forward-looking information under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the completion of due diligence, entering into a definitive agreement and completion of the joint venture with Mag One. Generally, forward-looking information can be identified by the use of forward-looking terminology such as intends, believes, plans to, expects or it is expected, or variations of such words and phrases or statements that certain actions, events or results will occur. Forward-looking statements are based on information as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, to be different, including due to: the receipt of all necessary regulatory approvals, the ability to complete share purchase, capital expenditures and other costs, and financing and additional capital requirements. Readers should not place undue reliance on forward-looking statements and forward-looking information. Blue Lagoon does not undertake to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws.

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Date: 12/16/2019 - 03:27
Language: English
News-ID 1554755
Character count: 7641
Firma: Blue Lagoon Resources Inc.
Ansprechpartner: Feedback to about Pressrelease-id:
Stadt: Wien


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