VANCOUVER - Blue Lagoon Resources Inc. (the 'Company') (CSE: BLLG) (FSE: 7BL) (OTCQB: BLAGF) is pleased to announce that it has mobilized its crew and drill rig to commence its 2021 drill program, which is expected to be a minimum of 20,000 meters of diamond drilling on its all-year-round road accessible Dome Mountain Gold Project, located a short 50 minute drive from Smithers, British Columbia.
As part of the Company's larger planned exploration and development program, Phase One, which starts today, is designed to target deep mineralization on and along the Boulder Vein resource. This program design was based on the positive results from the recently completed 2020 drill program which highlighted the near term opportunities to increase the overall resource significantly, both at depth and along strike to the east that show high grade gold and silver potential.
'We are very excited to kick off this Phase One drilling at Dome Mountain' said Bill Cronk, Chief Geologist of Blue Lagoon Resources.' The 2020 drilling program identified clear targets for follow up which will significantly add to the growing resource potential at Dome Mountain. In addition, fifteen high grade gold (drill ready) vein targets and, early developmental targets based on our 2020 airborne geophysics and ground soils and prospecting, offer further resource expansion opportunities on the Dome Mountain Gold Project,' he said.
Airborne geophysics completed on the project in 2020 detailed numerous targets for further development, as well as a clear Mag signature associated with additional strike length potential to the east on the Boulder Vein.
'Although we've reached a number of significant milestones for Blue Lagoon in a very short time, one of the most important and significant were results that we received from the first ever property wide airborne geophysical survey conducted at Dome Mountain,' said Rana Vig, President & CEO of Blue Lagoon Resources. 'This survey identified five (5) new perspective targets and led the company to immediately stake an additional 7,646 hectares, thereby nearly doubling the property to nearly 19,000 hectares,' he said.
'Furthermore,' he added, 'with a very busy year ahead, the Company anticipates significant positive results and milestones throughout the course of 2021. With drilling starting today, the first results are expected to be released in early March and will continue until the fall of 2021. In addition, the Company has nearly $6 million in treasury, no debt, and approximately $5 million in warrants and options that are in the money and could provide more capital this year, if needed,' he said.
Contact:
Rana Vig
Tel: 604-218-4766
Email: rana@ranavig.com
Statement Regarding Forward-Looking Information
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 may not show quality and quantity necessary for further exploration or future exploitation of minerals deposits, volatility of gold and silver 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. 
