Business
Blue Lagoon Resources Attains Commercial Production and Announces Strategic Equity Investment by Ocean Partners
May 19, 2026 – TheNewswire - Vancouver, British Columbia – Blue Lagoon Resources Inc. (CSE: BLLG; OTCQB: BLAGF; FSE: 7BL) reports that it has officially
About this update from Blue Lagoon Resources Inc
[{"type":"text","content":"May 19, 2026 – TheNewswire - Vancouver, British Columbia – Blue Lagoon Resources Inc. (CSE: BLLG; OTCQB: BLAGF; FSE: 7BL) reports that it has officially attained commercial production at its 100% owned Dome Mountain Gold and Silver Project, located near Smithers, British Columbia. Commercial production was declared after the Company maintained underground mining rates in excess of an average of 100 tonnes per day for more than 30 consecutive days, exceeding the threshold commonly used in the mining industry for commercial production status. Under the Company’s current mining permit, Dome Mountain is permitted to mine up to 55,000 tonnes annually, with commercial production generally recognized as achieving at least 60% of permitted throughput on a sustained basis, which in the Company’s case equates to approximately 90 tonnes per day. This milestone marks a transformational moment for Blue Lagoon as it officially transitions from a development-stage company to a producing gold company while setting its sights to its next milestone – consistent production of 150 tonnes per day. Dome Mountain is now among a very small number of newly permitted mining projects in British Columbia to successfully transition into active production in recent years. In further validation of Dome Mountain and Blue Lagoon’s execution strategy, the Company is also pleased to announce that its offtake partner, Ocean Partners Holdings Ltd. (“Ocean Partners”), is making a strategic equity investment of C$3 million in the Company priced at C$0.90 per common share – equal to the closing market price of the Company’s shares on Friday, May 15, 2026, and representing no discount to market. Additionally, the $3 million equity position will consist solely of common shares and carries no warrants. “This is a defining milestone for Blue Lagoon,” said Rana Vig, President and CEO of the Company. “Achieving commercial production at Dome Mountain is the culmination of years of persistence, technical work, permitting success, and strong collaboration with our industry partners and the Lake Babine Nation. To reach this point in British Columbia – one of the most challenging permitting jurisdictions in the world – is a major accomplishment for our team.” Mr. Vig continued: “Equally significant is Ocean Partners’ decision to become an equity shareholder in Blue Lagoon throug...