Blue Lagoon Encounters Additional Significant Intersections from Drilling Along Strike West of The Boulder Vein Resource

VANCOUVER, BC / ACCESSWIRE / February 14, 2023 / Blue Lagoon Resources Inc. (the "Company") (CSE:BLLG)(FSE:7BL)(OTCQB:BLAGF) is pleased to announce final results from the 2022 Phase II drilling program on its year-round, road accessible, Dome Mountain Gold Project, located a short 50-minute drive from Smithers, British Columbia.

Significant intersections from drill holes drilled along the western strike extension of the Boulder Vein, include:

• DM-22-280 - 8.68 g/t Au, 68.4 g/t Ag and 0.27% Cu over 3.55 meters including 24.40 g/t Au, 158.0 g.t Ag, 0.50% Cu over 0.60 metres, and,
• DM-22-283 - 7.28 g/t Au, 60.0 g/t Ag and 0.94% Cu over 3.87 meters, including 14.98 g/t Au, 78.5 g/t Ag, 0.53% Cu over 1.40 metres

These drill holes were part of a series of holes to test the Boulder structure at depth (> 200 metres from surface) and along strike to the west beyond the current (2021) resource model.

DM-22-280 intersected typical quartz-carbonate vein material within altered tuffs, mineralized with mainly pyrite and lesser chalcopyrite, sphalerite and galena at a drill depth of 226.00 to 229.55 metres grading 8.68 g/t Au, 68.4 g/t Ag and 0.27% Cu over 3.55 meters including 24.40 g/t Au, 158.0 g.t Ag, 0.50% Cu over 0.60 metres. The vein orientation appears to be steeper in this area - greater than 70° to the south.

DM-22-283 intersected two wide mineralized quartz-carbonate veins and strong clay-sericite altered zones, with the upper zone from 307.00 to 316.00 metres returning 3.69 g/t Au, 28.2 g/t Ag, and 0.43% Cu over 9.00 metres, including a higher grade core of 7.28 g/t Au, 60.0 g/t Ag and 0.94% Cu over 3.87 meters. The lower zone was drilled from 349.30 to 364.45 metres, returning 1.97 g/t Au, 38.5 g/t Ag and 0.39% Cu over 15.15 metres, including 4.30 g/t Au, 80.0 g/t Ag, and 0.79% Cu over 4.27 metres. The lower zone also included a short interval (0.43m) of massive sulphides.

Table 1: Selected significant intersections (>1 g/t Au)