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March 24, 2025 TheNewswire - Vancouver, British Columbia Blue Lagoon Resources Inc. (the "Company") (CSE: BLLG; FSE: 7BL; OTCQB: BLAGF) is pleased to announce the addition of Peter Bojtos, P.Eng to its recently formed Mining Committee that is tasked with successfully guiding the Company's transition from an exploration-focused company to a near-term gold and silver producer at its 100%-owned Dome Mountain Gold Project in British Columbia.
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.
"As we transition Blue Lagoon Resources from an exploration company to a near-term producer, assembling a team of proven industry leaders is critical to our success," said Rana Vig President and CEO of Blue Lagoon Resources. "Peter's extensive experience in mine development, financing, and operations makes him an invaluable addition to our Mining Committee. His deep understanding of what it takes to bring mines into production and maintain profitable operations, will provide us with strategic guidance as we focus on responsibly and efficiently advancing the Dome Mountain Gold Project . We are excited to welcome Peter to the team and look forward to his contributions as we move into this next chapter of growth," he added.
A Strong Foundation for Growth
The Mining Committee has been strategically assembled to provide technical guidance, operational oversight, and strategic planning expertise as Blue Lagoon moves forward towards production. While Dome Mountain remains a highly prospective district-scale property with 15 known high-grade gold veins and less than 10% of the land package explored , the Company's primary focus is on safely, responsibly and efficiently mining its fully permitted deposit while self-funding future exploration and resource expansion .
With the addition of Mr. Bojtos and further strategic appointments that will be announced in the coming weeks, Blue Lagoon Resources is well-positioned to accelerate its transition to gold and silver production and build shareholder value.
Any production decision in advance of obtaining a feasibility study of mineral reserves demonstrating economic and technical viability of the project is associated with increased uncertainty and risk of failure .
About Blue Lagoon Resources Inc.
Blue Lagoon Resources is a Canadian based publicly listed mining company (CSE: BLLG; FSE: 7BL; OTCQB: BLAGF) focused on building shareholder value through the aggressive development of its 100% owned Dome Mountain Gold project. The Company is run by professionals with significant finance and mining experience and operates within a prime mining jurisdiction in British Columbia, Canada. With the granting of a full mining permit, a key milestone achieved in February 2025 - one of only nine such permits issued in British Columbia since 2015 - Blue Lagoon is now focused on last preparatory activities and tasks related to the safe and secure opening of the Dome Mountain Gold Mine, targeting Q3 2025 as the start of gold production . The Company's primary objective has always been to become a cash-flowing mining company, to ultimately deliver tangible monetary value to shareholders, state, and local communities.
For further information, please contact:
Rana Vig
President and Chief Executive Officer
Telephone: 604-218-4766
Email: ranavig@bluelagoonresources.com
The CSE has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Statement Regarding Forward-Looking Information: This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Blue Lagoon Resources Inc. (the "Company") expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "targets", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential", "mine", "production" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include results of exploration activities may not show quality and quantity necessary for further exploration or future exploitation of minerals deposits, volatility of gold and silver prices, delays in mine development activities, future cash flow expectations and continued availability of capital and financing, permitting and other approvals, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward- looking statements are based on the beliefs, estimates and opinions of the Company's management, contractors and consultants on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's, contractor's and consultants' beliefs, estimates or opinions, or other factors, should change.
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Abcourt Mines Inc. ("Abcourt" or the "Corporation") (TSX Venture: ABI) is pleased to announce a non-brokered private placement of a combination of a maximum of 60,000,000 units of the Corporation (each, a " Unit ") at a price of $0.05 per Unit and a maximum of 50,000,000 common shares of the Corporation that qualify as "flow-through shares" within the meaning of subsection 66(15) of the Income Tax Act (Canada) and section 359.1 of the Taxation Act (Québec) (each, a " FT Share ") at a price of $0.06 per FT Share, for aggregate gross proceeds of up to $3,000,000 (the " Private Placement ").
It is expected that the proceeds from the Private Placement will be used to advance activities for development and exploration at the Sleeping Giant and Flordin gold projects in the Abitibi Greenstone belt of Quebec.
Each Unit will consist of one common share of the Corporation (a " Common Share ") and one common share purchase warrant (a " Warrant "). Each Warrant will entitle its holder to purchase one Common Share at a price of $0.08 for a period of 36 months following the closing date of the Private Placement (the " Closing Date ").
In the event that, during the period ranging between 12 months and 36 months following the Closing Date, the volume-weighted average trading price of the Common Shares exceeds $0.12 per Common Share for any period of 20 consecutive trading days, the Corporation may, at its option, following such 20-day period, accelerate the expiry date of the Warrants by delivery of notice to the registered holders (an " Acceleration Notice ") thereof and issuing a press release (a " Warrant Acceleration Press Release "), and, in such case, the expiry date of the Warrants shall be deemed to be 5:00 p.m. (Montreal time) on the 30 th day following the later of (i) the date on which the Acceleration Notice is sent to Warrant holders, and (ii) the date of issuance of the Warrant Acceleration Press Release.
The Private Placement is expected to close on or about April 3, 2025 and remains subject to final approval of the TSX Venture Exchange (the " TSXV ").
All securities issued in connection with the Private Placement will be subject to a restricted period ending on the date that is four months plus one day following the date of their issuance.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
ABOUT Abcourt Mines Inc.
Abcourt Mines Inc. is a Canadian exploration corporation with strategically located properties in northwestern Québec, Canada. Abcourt owns the Sleeping Giant mill and mine where it concentrates its activities.
For further information, please visit our website at www.abcourt.ca and consult our filings under Abcourt's profile on www.sedarplus.com , or contact:
| Pascal Hamelin President and CEO T: (819) 768-2857 E: phamelin@abcourt.com | Dany Cenac Robert, Investor Relations Reseau ProMarket Inc., T: (514) 722-2276, post 456 E: dany.cenac-robert@reseaupromarket.com |
Cautionary Statement on Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation based on expectations, estimates and projections as at the date of this news release. Such forward-looking information includes, but is not limited to, statements concerning the Corporation's expectations with respect to the completion of the Private Placement on the terms set out above; the use of the available funds following completion of the Private Placement; and expectations with respect to other activities, events or developments that the Corporation expects or anticipates will or may occur in the future. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, delays in obtaining or failures to obtain required approvals; uncertainties relating to the availability and costs of financing needed in the future; changes in equity markets; inflation; fluctuations in commodity prices; delays in the development of projects; other risks involved in the mineral exploration and development industry; and those risks set out in the Corporation's public documents filed on SEDAR+ at www.sedarplus.com. Although the Corporation believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Corporation disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.
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North Bay Resources, Inc. (the " Company " or " North Bay ") (OTC: NBRI) is pleased to announce a 2nd test shipment of 240 pounds of gold concentrate from approximately 10 tons of ore processed at the Company's Bishop Gold Mill. The gold concentrate was shipped to Just Refiners, Reno, NV, with sample splits to ALS Geochemical, Reno, NV. A prior concentrate shipment is currently in process at the Refinery (see Press Release dated March 4, 2024 ). The new shipment was comprised of centrifuge concentrate and centrifuge reconcentrated Deister Shaker Table scavenger recovery. The Company continues Mill optimization and processing of ore from the Company's Fran Gold Project with the stockpiling of gold concentrate for bulk shipment to the Refinery.
The Company has added an additional water holding tank and is installing a new pump that will allow for recirculation of water from the tailings pond allowing for an increase to near capacity of 96 tons per day. The water tower currently requires up to 8 hours to recharge but will now only be required for top up as recirculation is expected to handle greater than 80% of water use. Prior to the recirculation pump installation the Mill was limited to 4 hours of continuous operation with a capacity of 10-20 tons per day. In addition to the water storage tank and recirculation pump, upgrades and repairs to the classifier and Deister Shaker Table now allow for continuous milling operations.
Video - Continuous Gold Concentrate Production at Bishop Gold Mill
With successful and stable operation of the gravity circuit completed, and upgrading of water availability, the Company has begun implementation of the flotation circuit. Based on prior metallurgical studies, gold recovery by flotation is expected to significantly increase recovery of very fine (less than minus 200 mesh) gold and overall physical concentrate production. The Company has begun mobilization and logistics coordination for additional shipments from the Company's Fran Gold Project to provide additional feedstock to the Mill.
Fran Gold Project
Planning for near term extraction of 10,000 tons of near surface material has commenced. The development focus remains the main zone where consistent grade of 0.5 ounces per ton has been identified in trenches 100 feet in width and is further supported by drill hole data. The Property is 34,360 acres and is located 20 miles from Centerra Gold's 60,000 tonne per day / $15B in situ resource Mt. Milligan Copper, Gold Mine (299Mt @ 0.22% Cu, .45 g/t Au). To date there has been in excess of 50,000 feet of diamond drilling in 104 holes at Fran, primarily at the Bullion Alley Zone. A gold deposit, 3700 feet in length, with width of up to 120 feet, and depth of over 700 feet has been delineated. The deposit contains 3 to 4 well defined parallel gold veins grading up to 2.6 troy ounces of gold per ton as well as wide sections of low and mid-grade gold in veins and disseminated in veinlets throughout the deposit. Surface trenching has identified a near surface sub-zone where the gold bearing veins swell and are accessible from surface. There is approximately 5,000 tons of stockpiled material currently available for shipment.
On behalf of the Board of Directors of
North Bay ResourceS INC.
Jared Lazerson
CEO
X: @NorthBayRes
YouTube: North Bay Resources - YouTube
LinkedIn: North Bay Resources Inc | LinkedIn
This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws.
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CMC Metals Ltd. (TSX-V: CMB) (Frankfurt:ZM5P) ("CMC" or the "Company") CMC Metals Ltd. announces the consolidation of its common shares on the basis of a ten (10) pre-consolidation shares for one (1) new post-consolidation share (the "Consolidation") and a change of name to Walker Lane Resources Ltd. will occur on March 25, 2025 (the "Effective Date") as approved by the TSX Venture Exchange (the "Exchange").
As at the date of this news release, the Company has 164,420,419 common shares issued and outstanding. Upon completion of the Consolidation, it is expected that there will be approximately 16,442,042 common shares issued and outstanding. No fractional shares will be issued under the Consolidation and each fractional share following the Consolidation that is less than one-half of a share will be cancelled, and each fractional share that is at least one-half of a share will be rounded up to the nearest whole share. As applicable, the exercise or conversion price and the number of shares issuable under any of the company's outstanding stock options and convertible instruments will be proportionately adjusted.
Effective at the opening of trading on the Effective Date, the Company's pre-consolidated common shares will be delisted from the Exchange and the post-consolidated common shares will commence trading. The Company's new trading symbol will be WLR and the new CUSIP and ISIN are 931674105 and CA9316741052, respectively.
A letter of transmittal will be sent to registered shareholders providing instructions to surrender their pre-consolidated share certificates (the "Share Certificates") or Director Registration ("DRS") evidencing their shares for replacement Share Certificates or DRS representing the number of post-consolidated shares to which they are entitled as a result of the Consolidation. Until surrendered, each Share Certificate or DRS representing shares prior to the Consolidation will be deemed, for all purposes, to represent the number of shares to which the holder thereof is entitled as a result of the Consolidation.
The company's board of directors believes that the Consolidation is necessary to strengthen the overall position of the Company to avail new corporate development opportunities, a new corporate vision, and financing transactions.
On behalf of the Board:
"Kevin Brewer"
Kevin Brewer, President, CEO and Director
CMC Metals Ltd.
For Further Information and Investor Inquiries:
Kevin Brewer, P. Geo., MBA, B.Sc.(Hons), Dip. Mine Eng.
President, CEO and Director
Tel: (+52) 669 198 8503
kbrewer80@hotmail.com
Suite 1000-409 Granville St., Vancouver, BC, V6C 1T2
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
"This news release may contain certain statements that constitute "forward-looking information" within the meaning of applicable securities law, including without limitation, statements that address the timing and content of upcoming work programs, geological interpretations, receipt of property titles and exploitation activities and developments. In this release disclosure regarding the potential to undertake future exploration work comprise forward looking statements. Forward-looking statements address future events and conditions and are necessarily based upon a number of estimates and assumptions. While such estimates and assumptions are considered reasonable by the management of the Company, they are inherently subject to significant business, economic, competitive and regulatory uncertainties and risks, including the ability of the Company to raise the funds necessary to fund its projects, to carry out the work and, accordingly, may not occur as described herein or at all. Actual results may differ materially from those currently anticipated in such statements. Factors that could cause actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, the timing and receipt of government and regulatory approvals, the impact of the constantly evolving COVID-19 pandemic crisis and continued availability of capital and financing and general economic, market or business conditions. Readers are referred to the Company's filings with the Canadian securities regulators for information on these and other risk factors, available at www.sedar.com. Investors are cautioned that forward-looking statements are not guarantees of future performance or events and, accordingly are cautioned not to put undue reliance on forward-looking statements due to the inherent uncertainty of such statements. The forward-looking statements included in this news release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation."
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