Vancouver, British Columbia--(Newsfile Corp. - March 8, 2022) - Couloir Capital Ltd. is pleased to announce the updating of research coverage on Blue Lagoon Resources Inc. (CSE: BLLG) ("BLLG" or "Company"). The report is titled, "Resource Update Expands Ounces; Stockpile Processing Provides Cash Flow."

The report can be accessed through Couloir Capital's portal: Click on "Sign in / Sign up".

Report Excerpt:

Since our initiating report on BLLG, the Company has made further strides to advance its flagship Dome Mountain Gold Project, in which it now owns a 100% interest (as of July 2021). As we highlighted in our first report on the Company, BLLG is one of few juniors that have realistic near-term cash flow sources (in the form of existing material stockpiles) whilst also exploring projects with substantial development prospects. BLLG has realized the following major milestones since our initiating report:

• Completed an almost 20,000-meter drilling campaign in 2021, that aided in the release of an updated resource estimate at Dome Mountain that expanded the existing resource.
• Signaled the near-term commencement of a new 20,000-meter drilling campaign, which we believe would advance Dome Mountain to a future resource update.
• Initiated shipments of stockpile material from Dome Mountain to its toll milling partner NIM, which has begun shipments of concentrate.

Off the back of these significant developments, we believe that BLLG will continue to pursue aggressive exploration at Dome Mountain, which it may be capable of partially funding with sales of stockpile concentrate. This creates a value accretive effect where activity can to some extent be funded organically, as opposed to requiring purely external equity financings which are typically dilutive to the shareholder base.

About Blue Lagoon Resources

Blue Lagoon Resources is a mineral exploration company focused on its high-grade gold project - the past producing Dome Mountain Mine. The drive to mine site can be accessed all year and is just a short 50-minute drive from the town of Smithers, located in northwestern British Columbia.

About Couloir Capital

Couloir Capital is a research and advisory firm comprised of a team of veteran investment professionals dedicated to providing world-class opportunities in the natural resource exploration and development sectors along with real and alternative asset classes and strategies.

For further information, please contact:

Robert Stitt, Managing Director, Couloir Capital Ltd.

Email: rstitt@couloircapital.com

Analyst Disclosure: The analyst and / or affiliated companies do not hold shares in the Company.

A service agreement exists between Couloir Capital and the Company.

To view the source version of this press release, please visit