Blue Lagoon Marks One-Year Anniversary of Mining Permit Receipt as Gold & Silver Price Outlook Strengthens and Operational Milestones Accelerate

(TheNewswire)

February 6, 2026 – TheNewswire - Vancouver,British Columbia – Blue Lagoon ResourcesInc. (CSE: BLLG;OTCQB: BLAGF; FSE: 7BL) today marked the one-year anniversary of receiving itsmining permit for the Company’s 100%-owned Dome Mountain Gold andSilver Project in British Columbia - an achievement shared by onlynine mining projects permitted in the province over the pastdecade.

Since the permit was granted in February 2025, BlueLagoon has transitioned from permitting mode into an operatingcompany, advancing Dome Mountain into underground production andestablishing itself as one of the very few junior gold and silvercompanies in Canada to move rapidly from permit issuance torevenue-generating operations.

Over the same period, the macro environment for goldand silver has strengthened materially. Gold and silver prices haverisen sharply amid persistent inflation, geopolitical instability,central-bank accumulation, and growing concerns around global debtlevels. According to a recent survey of 30 analysts cited inAnalysts ramp up goldforecasts as global uncertainties mount byIshaan Arora and Ashitha Shiva Prasad, median consensus forecasts nowpoint to a gold forecast of US$4,746.50 per ounce in 2026, the highestannual forecast in Reuters polls dating back to 2012, reflecting adramatic reassessment of gold’s role as a monetary and strategicasset. “Gold is increasingly being viewed notjust as a hedge against inflation, but as a strategic asset amidgeopolitical tensions, elevated government debt, and central-bankdiversification,” the analysts noted,adding that “persistent global uncertainty continues to drive upwardrevisions to long-term gold price expectations.” Additionally,several Wall Street investment banks have raised year-end forecastsfor gold, with Goldman Sachs raising its forecast to US$5,400 perounce, as reported by Bloomberg.

Operational Progress Since PermitApproval

Since receiving its mining permit, Blue Lagoon hasachieved a series of key operational milestones at Dome Mountain,including:

• Completion of a critical year-round wastewatertreatment system, as required by regulation, prior to starting tomine 

• Scaling up the Company’s mining workforce, at a timewhen the supply of mining labour is historically tight 

• Initiation of underground mining and development ofmultiple active mining faces 

• Weekly delivery of mineralized material to NicolaMining, under the Company’s long-term  

(10-Year) milling agreement

• Receipt of the first production payment (~$1 million),validating the Company’s near-term cash-flow model 

The Company’s strategy has remained consistent:advance a high-grade gold and silver project responsibly, generatecash flow to fund ongoing exploration, and expand operations in adisciplined manner while maintaining strong environmental andcommunity standards.

The Company’s commitment to high operationalstandards is reflected by Blue Lagoon’s relationship with the LakeBabine First Nation (“LBN”), whose support has been an importantfactor in the project’s development and restart. Over several years,the Company has engaged meaningfully with LBN leadership and community members, embedding Indigenous values intoproject planning, operations, and workforce development.

This approach was formally recognized on the globalstage when Blue Lagoon was selected for the 2026 Prospectors &Developers Association of Canada (PDAC) Sustainability Award,following a nomination by the Chief of the Lake Babine First Nation.The award highlighted not only environmental stewardship, but also thestrength and authenticity of the Company’s Indigenous partnershipmodel.

PDAC is the world’s largest mining association,representing over 7,000 member companies and hosting the premierinternational mining conference attended annually by major producers,governments, and institutional investors. Past recipients of PDAC’sSustainability Award include global mining leaders such as TeckResources, as well as internationally recognized producers includingB2Gold and Cameco.

Against the backdrop of an evolving regulatory andpolitical environment in British Columbia - including recent courtdecisions that have increased scrutiny around consultation, consent,and Indigenous participation - Blue Lagoon’s established FirstNations support reduces permitting and execution risk. This sociallicense to operate represents a meaningful strategic advantage andpositions the Company favorably as it pursues potential permittingamendments, infrastructure enhancements, and expanded explorationactivities, supporting both near-term operational continuity andlong-term growth.

Positioned for a Strengthening GoldMarket

The recent sharp upward revision in long-term goldprice forecasts underscores the significance of Blue Lagoon’stiming. With permitting risk removed, underground access established,and a scalable production platform in place, the Company believes DomeMountain is well positioned to benefit from a sustained higher goldand silver price environment.

“Our focus over the past year has been onexecution,” said Rana Vig, President & CEO of Blue LagoonResources. “Being one of only nine projects permitted in BritishColumbia over the last ten years is meaningful - but what matters mostis what you do next. In just one year, we’ve moved Dome Mountainfrom a newly permitted project to an operating mine, at a time whenthe fundamentals for gold continue to strengthen materially.”

As global uncertainty continues to drive renewedinterest in gold and silver by retail, institutional and sovereigninvestors, Blue Lagoon remains focused on advancing production,expanding underground development, and unlocking additional valueacross its broader land package at Dome Mountain.

For further information, pleasecontact:

Rana Vig

President and Chief Executive Officer

Telephone:  604-218-4766

Email: [email protected]

About Blue Lagoon ResourcesInc.

Blue Lagoon Resources Inc. (CSE: BLLG; FSE: 7BL; OTCQB:BLAGF) is a Canadian-based, well-funded, growth-oriented miningcompany producing from its 100% owned Dome Mountain Gold Minenear Smithers, British Columbia. Led by a teamwith deep mining and finance experience, the Company operates in oneof the world’s most attractive mining jurisdictions.

In February 2025, Blue Lagoon achieved a majormilestone with the granting of a full mining permit - one of only nineissued in British Columbia since 2015 - and has since commencedunderground mining operations. Mineralized material from Dome Mountainis processed under a long-term milling agreement with Nicola Mining.Beginning in H1 2026, the Company plans to reinvest internallygenerated cash flow into near-mine and regional exploration to furtherexpand its resource base on its extensive property.

With a strong commitment to sustainability, community,and First Nation engagement, Blue Lagoon’s objective is to be aprofitable, cash-flowing gold producer while creating lasting valuefor shareholders and stakeholders alike.

The Company is not basing its production decision atDome Mountain on a feasibility study of mineral reserves demonstratingeconomic and technical viability. The production decision is based onhaving existing mining infrastructure, past bulk sampling andprocessing activity, and the established mineral resource.  TheCompany understands that there is increased uncertainty, andconsequently a higher risk of failure, when production is undertakenin advance of a feasibility study.

The CSE has not reviewed and doesnot accept responsibility for the adequacy or accuracy of thisrelease.

Forward-Looking Statement

This news release contains forward-looking statementsand forward-looking information within the meaning of applicablesecurities laws. Forward-looking statements include, but are notlimited to, statements regarding future gold and silver prices,production levels, cash-flow generation, operational expansion,permitting amendments, infrastructure enhancements, explorationpotential, and the Company’s plans, objectives, and expectations forfuture operations at the Dome Mountain Gold and Silver Project.Forward-looking statements are based on management’s currentexpectations and assumptions, including assumptions regardingcommodity prices, operating conditions, regulatory approvals,availability of labour and equipment, and continued support fromstakeholders, including Indigenous partners. Forward-lookingstatements involve known and unknown risks, uncertainties, and otherfactors that may cause actual results or events to differ materiallyfrom those expressed or implied by such statements. These risksinclude, but are not limited to, changes in commodity prices,operational and technical challenges, regulatory or permitting delays,environmental risks, changes in laws or government policy,availability of financing, and general economic and market conditions.Readers are cautioned not to place undue reliance on forward-lookingstatements. The Company does not undertake any obligation to update orrevise forward-looking statements, except as required by applicablesecurities laws.

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