Blue Lagoon Resources Inc. has announced the first sale of gold and silver from its Dome Mountain project to Ocean Partners UK Limited, with the company expecting to receive approximately C$970,000 from this initial transaction. This payment represents an advance on the first shipment of approximately 1,000 tonnes of mineralized material delivered to the company's milling partner, Nicola Mining Inc., for processing. Final settlement will occur following processing and is subject to customary adjustments based on final assays and prevailing metal prices at the time of settlement.
The company views this milestone as a significant inflection point, marking Blue Lagoon's transition from a pre-revenue to a revenue-generating mining company. This places the company among a select group of junior mining companies that have successfully advanced from development into production and sale of gold and silver. Following a brief Christmas holiday break, underground development, production and shipments of mineralized material are expected to resume in the first week of January. Further disclosure regarding the grades of the initial shipment will be provided following processing of the material by Nicola.
"This sale marks a significant milestone for Blue Lagoon," said Rana Vig, President & CEO. "The company is now focused on continued execution as we advance on development and production activities, increase throughput, and work toward consistent, steady-state operations." The company operates in what it describes as one of the world's most attractive mining jurisdictions and achieved a major milestone in February 2025 with the granting of a full mining permit - one of only nine issued in British Columbia since 2015.
Mineralized material from Dome Mountain is being processed under a long-term toll milling agreement with Nicola Mining. Beginning in the first half of 2026, the company plans to reinvest internally generated cash flow into near-mine and regional exploration to further expand its resource base. The company has also announced the grant of an aggregate of 3,000,000 restricted share units and 200,000 stock options to certain directors, officers, management and consultants of the company pursuant to the company's omnibus equity incentive plan. The grant of the RSUs and options is subject to approval by the Canadian Securities Exchange.
The company notes that it is not basing its production decision at Dome Mountain on a feasibility study of mineral reserves demonstrating economic and technical viability. The production decision is based on having existing mining infrastructure, past bulk sampling and processing activity, and the established mineral resource. The company understands that there is increased uncertainty, and consequently a higher risk of failure, when production is undertaken in advance of a feasibility study. For more information about the company's operations, visit https://www.bluelagoonresources.com.
