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 nonbrokered 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.