Blue Lagoon Completes Second Tranche of Private Placement

BLUE LAGOON RESOURCES INC.

CSE: BLLG

FSE: 7BL

OTC: BLAGF

NEWS RELEASE

BLUE LAGOON COMPLETES SECOND TRANCHE OF PRIVATE PLACEMENT

October 10, 2019 – Vancouver, British Columbia – 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 September 16, 2019. In

connection with the second tranche closing, the Company issued 250,000 common shares at a price of $1.00 per

share for gross proceeds of $250,000.

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 six 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: [email protected]

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