Blue Lagoon Resources Inc. has entered into agreements for a C$10 million strategic investment from its two key operating partners, milling partner Nicola Mining Inc. and offtake partner Ocean Partners Holdings Ltd., which will each invest C$5 million to increase their equity ownership in the Dome Mountain gold and silver mine in British Columbia.

The transaction involves issuing approximately 16.67 million common shares at C$0.60 per share with no warrants, representing a premium of over 10% to the company's 20-day volume-weighted average price. Closing of the strategic investment is subject to CSE policy compliance, and the issued shares will carry a statutory hold period of four months and one day.

The new funding provides financial flexibility to advance underground development and exploration at Dome Mountain without scaling back operations. The ramp-up has involved substantial reinvestment in infrastructure, water treatment, and additional working faces, pushing the operation toward its 150-tonne-per-day target.

“I have said that our goal is to grow Blue Lagoon through cash flow, and that remains unchanged. This investment allows us to accelerate what we are already building. We can continue advancing the mine, grow production and begin drilling, while maintaining a strong treasury. More production has the potential to generate more cash flow, and successful drilling has the potential to expand the resource and extend mine life. Both can create additional value for shareholders, and we are pursuing them alongside partners whose interests are closely aligned with ours.” — Rana Vig, President and CEO

The capital injection will also enable Blue Lagoon Resources Inc. to use cash flow to commence its planned fall drill program at Dome Mountain, which represents the first drilling at the project since 2023. The Boulder Vein System remains open along strike and at depth. As production advances toward the 150-tonne-per-day target and the current permitted capacity of 55,000 tonnes per year, the company intends to pursue higher permitted production levels subject to regulatory approval.

Meanwhile, regional activity across the surrounding district includes Amarc Resources and Boliden commencing a $4 million exploration program at the Duke District on June 25, 2026, and American Eagle Gold expanding its Babine porphyry district land holdings by approximately 470% to 9,283 hectares through an option agreement for the Hearne Hill South property within 50km of the project on July 31, 2026.

Read the full announcement: Blue Lagoon Announces C$10 Million Strategic Investment by Nicola Mining and Ocean Partners