As of February 2025, Blue Lagoon Resources achieved a major milestone by securing its mining permit, making it one of only nine companies to receive such approval in British Columbia since 2015. With this critical permit in place, the company is now focused on completing its state-of-the-art water treatment plant-expected to be operational by the end of May 2025. This marks a pivotal step in Blue Lagoon’s transition from an exploration company to a fully operational producer, with first production targeted for Q3 2025.

Corporate Presentation

Projects

Dome Mountain

Pellair Gold Project

Big Onion

Management and Directors

Rana Vig – CEO and Director

Mr. Vig has over 30 years of business experience during which time he has helped to launch five business ventures in private industry. He has been involved in several publicly traded companies since 2010, serving first as an executive at an industry leading algorithmic securities trading systems company and then of an award winning automated referral marketing solutions company that powered loyalty and referral marketing programs across 39 countries for brands including AT&T, Sprint, Telus, Envision Financial and others.

From 2011 to 2016 Mr. Vig served as President of Musgrove Minerals, an Idaho focused gold and copper mining exploration company, and from 2013 to 2016, he was the Chairman and CEO of Continental Precious Minerals Inc., a TSX senior board exploration company with a focus on advancing one of the largest uranium projects in the world, located in Sweden.

Mr. Vig is a former chair of BC Open Learning Agency, and serves on several public company boards and committees. He is active in many charitable and community organizations acting as director or advisor.

In November 2017, he was invited to the Canadian Senate to receive the Senate 150th Anniversary Medal – which were awarded to top Canadians actively involved in their communities who, through generosity, dedication and hard work, make their hometowns and communities, a better place to live.

Bill Cronk, P.Geo – Chief Geologist

Bill Cronk has over 25 years of experience as a geologist and manager of exploration programs for precious and base metal deposits. Mr. Cronk has worked in Africa, Europe as well as North and South America with expertise that ranges from grass roots reconnaissance up to advanced stage and pre-feasibility work.

Mr. Cronk worked for mining industry leaders such as Dundee Precious Metals, and Northern Empire – which was acquired by NY listed Coeur Mining (NYSE: CDE), where he gained invaluable management experience and honed his skills in business development, project generation, program design, budget implementation and project management.

Norman Brewster – Director

Mr. Brewster is the President, Director and CEO of Cadillac Ventures Inc., with development projects in Ontario (copper) and New Brunswick (tungsten). Mr. Brewster has served on many public and private company boards over his career in the mineral industry.

Prior to joining Cadillac Ventures Inc., Mr. Brewster was the interim President and Executive Chairman of Iberian Minerals Corp., successfully financing, developing and putting into production the Aguas Tenidas Mine in Andalucia, Spain, which became the region’s largest employer. During his tenure Mr. Brewster led negotiations for the purchase of the Condestable Mine in Peru by Iberian Minerals Corp., and as a final duty Mr. Brewster led a committee in reviewing the successful bid by Trafigura Group Pte. Ltd. (revenue in 2015 of 97 Bn) to acquire Iberian Minerals Corp., in an all cash takeover.

Mr. Brewster also sat on a committee, as a Director of Spider Resources Inc., which reviewed the successful all cash acquisition of Spider Resources Inc., by Cliffs Natural Resources Inc. Mr. Brewster holds Bachelor of Science and Education Degrees from Acadia University and was approved as a Member of the Association of Geoscientists of Ontario.

Gurdeep Bains – Director

Mr. Bains is a Chartered Professional Accountant (CPA, CA) who in 2003 received his Chartered Accountant Designation from the Institute of Chartered Accountants of BC and in 2004 graduated from Simon Fraser University with a Bachelor of Business Administration. From 2000 to 2005, he was a Senior Auditor, Assurance Services at KPMG.

From 2005 to 2014, Mr. Bains was with Canaccord Genuity as Vice President, internal audit and financial analysis where he was involved in the company’s global expansion by performing the due diligence and integration of $850M in acquisitions in Canada, US, UK, Australia and China.

From June 2014 to October 2017, he was the CFO at OK Tire Stores Inc., an automotive company with over 330 locations across Canada. From October 2017 to March 2019, Mr. Bains was CFO at Zenabis Ltd., contributing in both finance and business development roles.

Regina Lara Yunes, CPA – CFO

Lara Yunes is a Chartered Professional Accountant with a Bachelor’s of Technology in Accounting from the British Columbia Institute of Technology. She is currently a Financial Reporting Manager at Treewalk, providing accounting, financial reporting, and compliance services to publicly listed firms. Prior to this, she worked at Smythe LLP as an accountant, offering audit and tax services to both private and public companies

Advisory Board

Yannis Tsitos – Chair of the Mining Committee

Mr. Tsitos has over 35 years of experience in the mining industry, including 19 years with BHP Billiton. Originally a physicist-geophysicist, he later served as New Business Development Manager for Minerals Exploration, where he was instrumental in identifying, negotiating, and executing over 60 mining agreements worldwide. Mr. Tsitos sits on several company boards, has contributed to four deposit discoveries, and has published multiple articles in exploration and mining publications. He has also been a strong advocate for anti-corruption policies in the mining industry, ensuring responsible business practices across the sector.

Peter Bojtos, P.Eng – Strategic Advisor

Mr. Bojtos is a Professional Engineer with over 50 years of worldwide experience in the mining industry.

Over his career he has visited and evaluated properties in nearly 80 countries and has been involved with operations in 30 of them. He has carried out more than 15 significant corporate acquisitions, mergers or sales that involved 24 operating mines and he was the regional exploration manager at Kerr Addison at the time of the staking and subsequent discovery of what eventually became Inmet’s Troilus gold-copper mine in Quebec. Mr. Bojtos has participated in the financing, development, building or reopening of 19 mines and has had a hand in the operation of 24 producing mines.

Mr. Bojtos graduated from the University of Leicester, England in 1972, following which he worked at open-pit iron-ore and underground base-metal and uranium mines in West Africa, the United States and Canada. Then for 12 years he worked in Toronto for Kerr Addison Mines Ltd., a Noranda Group company, in increasingly senior management and officer positions. From 1990 to 1992 he was the President & CEO of RFC Resource Finance Corp. restarting a zinc mine in Washington State. From 1992 to 1993 Mr. Bojtos was the President & CEO of Consolidated Nevada Goldfields Corp. that operated precious metal mines in the United States. From 1993 to 1995 he was Chairman & CEO of Greenstone Resources Ltd, acquiring, constructing and operating several gold mines in Central America.

For the past 26 years Mr. Bojtos has been an independent director of numerous Canadian, US, Australian, London or European listed mining and exploration companies including Birim Goldfields Inc., Desert Sun Mining Corp., Queenstake Resources Ltd., European Uranium Inc., US Gold Corp., Vaaldiam Resources Ltd. and William Resources Inc. and is currently the Chairman of the Board of Avino Silver & Gold Mines Ltd. He was also the President of Pembridge Resources plc which acquired and restarted the Minto copper mine in Yukon.

Peter Espig – Strategic Advisor & Milling Partner

Mr. Espig is a former Wall Street investment banker and mining executive with an extensive background in mine financing, restructuring, and operational turnaround. He currently serves as President & CEO of Nicola Mining Inc., Blue Lagoon’s milling partner, where he has successfully led the company’s transformation into a profitable cash-flowing mining entity – a rare achievement for a junior mining company. Since assuming the role of CEO, Nicola’s market capitalization has increased 15x, underscoring his ability to drive growth and create value.

Prior to his leadership at Nicola, Mr. Espig held key executive roles in global finance and private equity, with a focus on mining and resource investments. He was Vice-President of the Principal Finance and Securitization Group and the Asia Special Situations Group for Goldman Sachs Japan, specializing in complex financial restructuring, mergers and acquisitions, and capital investments. Before joining Goldman Sachs, he was Vice-President at Olympus Capital, a New York-based private equity firm, where he played a pivotal role in structuring multi-billion-dollar investment transactions across multiple industries, including natural resources.

His mining career comes full circle with his leadership at Nicola, as Mr. Espig originally began his career as a diamond driller in the 1980s, giving him a unique bottom-up perspective on mine development and operations. His direct hands-on experience, coupled with his expertise in scaling companies, securing financing, and driving operational efficiencies, has enabled him to successfully navigate complex mining projects, maximize shareholder value, and position companies for sustainable long-term growth.

Roy Edvardsen – Mine Manager

Mr. Edvardsen brings over 40 years of experience in the mining industry, specializing in underground mining operations and safety leadership. Over the course of his career, he has held key positions, including Mine Superintendent and Underground Mine Manager, at some of Canada’s most well-known mining operations. He played a significant role at the Wolverine Mine in the Northwest Territories, where he was responsible for safety operations overseeing a workforce of more than 120 employees, as well as serving as Mine Superintendent. Prior to that, he worked at the Ekati Diamond Mine (BHP, NWT), where he gained valuable experience in underground operations. He also spent time at the Eskay Creek Gold Mine, one of British Columbia’s most notable high-grade gold deposits. His deep knowledge of mine safety, operations management, and underground mining will be invaluable as Blue Lagoon moves forward with production at Dome Mountain.

Steve Cutler –  Principal Mining Consultant, Underground Operations

Mr. Cutler is the Founder and President of Roughstock Mining and has over 40 years of experience in underground mining. Since 1997, he has been designing and overseeing underground mining projects and previously worked as a longhole engineer for Stillwater Mining Company, where he played a key role in the startup of the East Boulder Mine in 2000.

He later became General Manager of the 1,500 t/d operation before founding Roughstock Mining in 2012 to serve underground mines throughout Western Canada and the United States. His expertise in mine planning and underground operations will be invaluable in optimizing production at Dome Mountain.

Wayne Kindrat – Underground Mining Specialist & Contractor

Wayne Kindrat brings over 40 years of experience in the mining and construction industries, having started his career in 1973 at the age of 10, working alongside his father at the Cronin Mine. His early exposure to underground mining gave him a strong foundation in mine operations, equipment handling, and safety protocols, which he has continued to refine throughout his career.

His background includes key roles at Skyline Mine, New-Hawk Mine, and Timmons Nickel, where he worked as a shrinkage stope and drift miner, gaining extensive hands-on experience in underground mine development, haulage operations, and safety coordination.

Importantly, Mr. Kindrat has a long-standing history with the Dome Mountain Mine, having worked on-site during multiple phases of its development. From 1991 to 1993, he played a pivotal role in driving the 1290 drift and overseeing haulage operations on the 1370 level. He later returned in 2016 and again from 2020 to 2023, leading bolting operations on the 1290 and 1370 drifts, conducting bolt pull testing, and working on ventilation raise installations and site preparation.

With certifications in Mine Rescue and Mine Supervision, Mr. Kindrat brings a unique combination of operational experience, safety leadership, and deep familiarity with Dome Mountain. His extensive knowledge of the site’s underground workings makes him an invaluable asset to Blue Lagoon’s Mining Committee as the company moves toward production.

Capital Structure

As of March 2025

Contact

Blue Lagoon Resources Inc.
1200 – 750 West Pender St.
Vancouver BC V6C 2T8

604-218-4766
info@bluelagoonresources.com