Blue Lagoon Completes Acquisition of ASIC Mining Inc.

BLUE LAGOON RESOURCES INC.

NEWS RELEASE

BLUE LAGOON COMPLETES ACQUISITION OF ASIC MINING INC.

August 27, 2019 – Vancouver, British Columbia – Blue Lagoon Resources Inc. (“Blue Lagoon” or

“Company”) (CSE: BLLG) is pleased to announce that, further to the news releases dated August 6, 2019 and

August 19, 2019, the Company has completed the acquisition of all of the issued and outstanding shares of

ASIC Mining Inc. from its shareholders in consideration for a total of 11,600,000 post-split common shares of

the Company. ASIC is a private Canadian company that holds an option to acquire a 100% interest in the

Pellaire gold property located in the Clinton Mining Division of British Columbia.

The Company is also pleased to announce that it has completed the 4:1 share split of its issued and outstanding

shares. Each shareholder of record of the Company as of the close of business on August 26, 2019 will receive,

by mail, three (3) additional shares for each share held on such date.

For further information, please contact:

Rana Vig

President and Chief Executive Officer

Telephone: 604-218-4766

Email: [email protected]

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 the acquisition of ASIC. 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 res ults “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 conclude the Share

Exchange, 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.