Blue Lagoon Completes $1 Million Private Placement

VANCOUVER, January 31, 2020 - Blue Lagoon Resources Inc. (the "Company") (CSE:BLLG)(FSE:7BL)(OTC:BLAGF) is pleased to announce that it has completed the second tranche of its non-brokered private placement (the "Offering") described in its news release dated January 3, 2020. In connection with the second tranche closing, the Company issued 100,000 common shares at a price of $1.50 per share for gross proceeds of $150,000.

"This $150,000 trance completes our previous closing of $850,000 at $1.50, bringing the total raised in this current round to exactly what was announced - $1 Million at $1.50 per share," said Rana Vig, President and CEO.

The Company intends to use the funds to conduct mineral exploration work to advance its properties as well as for general working capital. The securities issued will be subject to a hold period expiring four months and one day from the date of issuance.

For further information, please contact:
Rana Vig
President and Chief Executive Officer
Telephone: 604-218-4766
Email: rana@ranavig.com

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

SOURCE: Blue Lagoon Resources Inc.