Blue Lagoon Receives Final Mine Permits for its Dome Mountain Gold Project in British Columbia - Poised To Become BCs Next Gold Producer

Blue Lagoon Receives Final Mine Permits for its Dome Mountain Gold Project in British Columbia - Poised To Become BCs Next Gold Producer

(TheNewswire)

Blue Lagoon Resources Inc.

February 6, 2025 TheNewswire - Vancouver, British Columbia Blue Lagoon Resources Inc. (the "Company") (CSE: BLLG; FSE: 7BL; OTCQB: BLAGF) is pleased to announce that it has received its mining permit from the Ministry of Mining and Critical Minerals and its effluentdischarge permit from the Ministry of Environment and Parks for its 100% owned Dome Mountain Gold Project, an all-year road accessible project located a short 50-minute drive from Smithers, British Columbia, Canada. The achievement of this milestone truly marks a transformative moment for the Company as it transitions from an exploration-focused company to a near-term gold and silver producer.

"It is incredibly rare for a junior mining company to evolve from pure exploration into production, and today, we proudly stand on the brink of that transformation," said Rana Vig, President and CEO of Blue Lagoon Resources . "Securing the final mine permit is not just a milestone - it's a testament to the relentless dedication of our team, the strength of our partnerships, our extensive collaboration with Lake Babine Nation, and our unwavering commitment to responsible resource development in our beautiful Province. Blue Lagoon is now poised to become British Columbia's next gold producer, and this is just the beginning of an exciting new chapter for our Company and our shareholders," he added.

Blue Lagoon's chief geologist, Bill Cronk , said, "what makes this accomplishment even more remarkable is that we are delivering to our shareholders one of only a handful of mining permits granted in British Columbia over the last decade. This speaks to the exceptional quality of the high-grade Dome Mountain Gold Project, our commitment to meeting the highest environmental and regulatory standards, and the trust we've earned from both the provincial government and local communities. It's an extraordinary achievement that positions Blue Lagoon Resources for lasting growth in one of the world's most mining-friendly jurisdictions."

Key Highlights:

  • Final Mine Permits Secured: Authorizes full-scale underground mining operations at Dome Mountain, British Columbia. Initial production is limited to 55,000 tonnes per year with expected recovery of approximately 15,000 ounces Au per year.

  • Operational Readiness: The Company is preparing to initiate mining operations as early as July 2025.

    • Infrastructure, equipment, technical staff /consultants, mining contractor and operational plans being finalized and put in place.

  • Toll Milling Agreement: The Company holds an active toll-milling agreement with Nicola Mining and will ship its mined mineralized material to their milling facilities at Merritt, B.C. for processing.

  • Near-Term Production: The Company is now focused on finishing last preparatory activities and tasks related to the safe and secure opening of Dome Mountain, including the required installation of our planned water treatment facility at site, expected to be completed within three months.

Valuable Toll Milling Partnership

Pictures above show first truck load of Dome mineralized material arriving at Nicola Mining in

April 2021 that was sent by the Company to refine logistics and finalize optimal trucking routes.

" We are proud to support Blue Lagoon Resources as they transition into production at the Dome Mountain Gold Project," said Peter Espig, President of Nicola Mining Inc. "Our collaboration in 2021, which involved processing 5,000 tonnes of Dome Mountain material at our mill, provided both teams with invaluable operational insights. This hands-on experience helped optimize logistics, improve processing efficiency, and fine-tune key aspects of the milling process. We look forward to continuing our partnership as Blue Lagoon embarks on this exciting new chapter as British Columbia's next gold producer."

Nicola Mining's President, Peter Espig (left) with Blue Lagoon Resources President & CEO, Rana Vig,

standing at mill site next to Dome Mountain's high-grade mineralized material


Click Image To View Full Size

Blue Lagoon Resources President & CEO, Rana Vig, standing next to conveyer transporting

Dome Mountain mineralized material from Nicola's primary crusher to its secondary crusher during testing phase in 2021

As the Company transitions into production, its strategic focus will be on generating and investing cash from operations to self-fund further exploration across the expansive Dome Mountain property that has 15 known high grade gold veins with 90% of the nearly 21,000 hectare property yet to be explored (see the Company's news release dated May 4, 2020). This disciplined approach is designed to unlock the district-scale potential of the project while minimizing shareholder dilution. Additionally, the Company will allocate funds toward infill drilling the Boulder vein to expand the known resource, improve resource classification, and extend the mine's life, ensuring sustainable growth and long-term value creation for its shareholders.

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.

Dome Mountain Gold Project

The Dome Mountain Project (Figure 1) covers an historical area of high-grade precious metal bearing veins centred on the past-producing Dome Mountain gold-silver mine which exploited the Boulder Main vein (1989-1992). The Project area is predominantly underlain by the Lower to Middle Jurassic Hazelton Group Island arc assemblage. The Boulder Main Vein, as well as its subsidiary veins (Figure 2), are characterized as steeply dipping, base metal rich, quartz carbonate veins embodied within an overall Alkali Gold System (mesothermal). The overall carbonate content can range as high as 30% and underlies the unit as a natural pH buffer and non-acid generating (NAG) system. Near term goals will include permitting the Argillite vein which will add additional high-grade value to the overall mine plan.


Click Image To View Full Size

Figure 1 : Location of key areas of the Dome Mountain property

Boulder Vein System Resource

To date the Company has drilled 94 drill holes (25,275 meters) into the Boulder Vein System since 2020, but historically almost 90,000 meters of drilling has been drilled on the Property since 1985. The current resource estimate includes drilling from the 2020 and 2021 Phase 1 infill campaigns (Table 1) as well as historical drilling.


Click Image To View Full Size

Figure 2: Map showing various veins that comprise the Boulder Vein System.

Note that veins are not to scale and represent approximate surface expression of the vein traces.

Table 1: Summary of drilling by the Company on Boulder Vein System since 2020.

Year / Phase

No. Drill Holes

No. Meters

2020

26

3,786

2021 Phase 1

28

6,839

2021 Phase 2

1

509

2022 Phase 1

10

4,149

2022 Phase 2

19

7,083

2023 Phase 1

10

2,909

Through the initial programs of infill drilling the Company was able to increase the total gold ounces in the indicated category by 145%, or 102,582 ounces. In addition, 45,000 ounces of gold were moved into the measured category, which was a first for the project. The current mineral resource statement (see News Release, February 3, 2022) discloses a mineral resource of:

Table 2: Mineral Resource Statement at 3.5 g/t cut-off, Dome Mountain Project, British Columbia, October 15, 2021

Class

Tonnes

Au (g/t)

Ag (g/t)

Au Oz

Ag Oz

Measured

136,000

10.32

57.31

45,000

250,000

Indicated

662,000

8.15

41.19

173,000

876,000

Inferred

85,000

6.02

26.13

16,000

71,000

(1) Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability.

(2) The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.

(3) The Inferred Mineral Resource in this estimate has a lower level of confidence than that applied to Measured and Indicated Mineral Resource and must not be converted to a Mineral Reserve. It is reasonably expected that the majority of the Inferred Mineral Resource could be upgraded to an Indicated Mineral Resource with continued exploration.

(4) The Mineral Resources in this report were estimated using the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), CIM Standards on Mineral Resources and Reserves, Definitions and Guidelines prepared by the CIM Standing Committee on Reserve Definitions and adopted by the CIM Council.

Arseneau, G. 2022. Mineral Resource Estimate for the Dome Mountain Gold Project, Smithers, British Columbia, Canada, prepared for Blue Lagoon Resources Inc. by Arseneau Consulting Services, effective date, October 15, 2021, NI 43-101 compliant technical report date January 31, 2022.

The two principal goals of the Company for the Boulder Vein System were:

  • to infill drill in the previously reported inferred resource in order to increase the defined resource into an indicated and/or measured category and;

  • to explore for more Boulder Style mineralization on strike and down dip from the resource and outline the potential for a Blue Sky 1M+ ounce resource there.

Both goals have been met.

Boulder Main Vein Size Potential

The Boulder Main Vein resource has a strike length of 530 meters and 200 meters down dip. Drilling to date has tested strike in both directions and down dip another 200 meters and has successfully shown the Boulder Vein mineralization continues for at least another 550 meters along strike (200+ meters west and 350+ meters east) and, 200+ meters down dip. Though sufficient infill drilling has not yet been completed to define a much larger resource, company geologists conclude that the drilling outlines potential for at least 1 million ounces gold and over 4 million ounces silver, given the consistency in gold and silver grades. In addition, deep holes at depth such as DM-22-273 showing increasing significance of copper mineralization (5.73 g/t Au, 80.9 g/t Ag and 1.21% Cu over 16.55 meters; including 5.65 meters returning 11.02 g/t Au, 115.8 g/t Ag and 2.31% Cu (see News Release dated January 16, 2023). Note that the potential resource range described above is conceptual in nature, there has been insufficient drilling to define such a conceptual range, and it is uncertain if further exploration will result in a resource within that range.  The conceptual range was determined based on a review of historical and company data described above.

The next phase(s) drilling will focus on expanding the known mineralization further along strike and at depth as well as infill drilling to add ounces to the growing resource. The identification of zones of wide, well-mineralized veins in all directions indicates the ability to continue to grow the resource quickly (Figure 3, yellow). Successful on-strike and down-dip drilling in the next phase(s) would indicate the potential to add further Au ounces resulting in a total potential deposit resource of greater than 1M+ ounces Au. Infill drilling would commence and be financed by funds generated from production of the Boulder Vein.

With systematic drilling the Company targets to show that the Boulder Main Vein resources can be successfully improved to a world class gold resource (Figure 3).


Click Image To View Full Size

Figure 3: Long section showing Current Boulder Main Vein resource in Black, dashed line shows extent of Boulder Vein Mineralization identified by recent drilling. Yellow bands are 100 meters step outs for further drilling targeting expanded Boulder Vein mineralization along strike and at depth. White circles are targeted pierce points. Figure also shows the existing resource with locations of both portals and already mined out portions.

Blue Lagoon looks forward to a new era for the overall development of the Dome Mountain Gold Project, the challenges ahead, but most importantly the Company remains committed to the responsible development of Dome Mountain in harmony with the Province, community and First Nations interests.

The scientific and technical disclosure in this news release was approved by Ted VanderWart, P.Geo , a Qualified Person as defined in NI 43-101 and a consultant to the Company.

For further information, please contact:

Rana Vig

President and Chief Executive Officer

Telephone:  604-218-4766

Email: rana@ranavig.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.

Copyright (c) 2025 TheNewswire - All rights reserved.

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Summer 2025 production ready gold producer in British Columbia with significant exploration upside

Blue Lagoon Resources to Participate in Canada's Premier Mining Investor Conference in Quebec City

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(TheNewswire)

Blue Lagoon Resources Inc.

April 16, 2025 Vancouver, British Columbia TheNewswire - Blue Lagoon Resources Inc. (the " Company ") (CSE: BLLG; FSE: 7BL; OTCQB: BLAGF) is pleased to announce that it will be completing a final tranche of its previously announced private placement financing (see news releases Feb 24 and March 31) by issuing up to 7,200,000 units (" Units ") at a price of $0.25 per Unit for gross proceeds of up to $ 1,800,000 (the " Offering "). The Offering is in addition to the $2,646,750 raised across three previous tranches for a total of $4,446,750 to be raised by the Company.

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(TheNewswire)

Blue Lagoon Resources Inc.

March 31, 2025 TheNewswire - Vancouver, British Columbia Blue Lagoon Resources Inc. (the "Company") (CSE: BLLG; FSE: 7BL; OTCQB: BLAGF) is pleased to announce that it has closed a third tranche of its previously announced non-brokered private placement (the "Offering"), bringing the total funds raised across the three tranches to $2,646,750 .

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B2Gold Releases its Ninth Annual Responsible Mining Report and its Fourth Annual Climate Strategy Report

B2Gold Releases its Ninth Annual Responsible Mining Report and its Fourth Annual Climate Strategy Report

B2Gold Corp. (TSX: BTO) (NYSE AMERICAN: BTG) (NSX: B2G) ("B2Gold" or the "Company") is pleased to announce that it has published its ninth annual Responsible Mining Report entitled "Raising the Bar" (the "Report"), which details B2Gold's global economic contributions and its environmental, social, and governance ("ESG") management practices, together with the Company's performance against key indicators in 2024. Highlights of the Report are presented below, and full details are outlined in the Report, which is available to view or download at the link provided below. All dollar figures are in United States dollars unless otherwise indicated.

B2Gold is also pleased to announce that it has published its 2024 Climate Strategy Update. The Climate Strategy Update presents stakeholders with information on how B2Gold manages its climate-related risks and impacts and is the Company's fourth annual report in line with the recommendations of the Task Force on Climate-related Financial Disclosures.

To view or download a copy of the Responsible Mining Report and Climate Strategy Update, and all other documents referred to in this press release, please visit www.b2gold.com/sustainability/esg-reporting-portal

In announcing the release of the Report and the Climate Strategy Update, Clive Johnson, President & CEO of B2Gold, states "As I reflect on the achievements and challenges of the past year, I am particularly proud of the dedication of our people, who continue to drive B2Gold forward. We have successfully navigated dynamic capital markets, regulatory changes, and evolving ESG expectations while maintaining our high standards of responsible mining. Together, we strive to continue to create long-term value for all of our stakeholders, while upholding the level of operational excellence, environmental stewardship, and social responsibility that define B2Gold."

Highlights from the 2024 "Raising the Bar" Responsible Mining Report

Economic Contribution

As a responsible gold miner, B2Gold aims to create and distribute economic value among its stakeholders. B2Gold's economic performance is measured by the economic value that it generates for others, including payments to governments through taxes and royalties, local hiring and procurement and investment in communities. In 2024, B2Gold:

  • Achieved total consolidated gold production of 804,778 ounces (including 19,644 ounces of attributable production from Calibre Mining Corp.);

  • Generated $1.9 billion in annual revenue;

  • Paid $283 million in employee wages and benefits;

  • Invested $12.8 million in its local communities 1 ; and

  • Paid $564 million to governments (through taxes and royalties).

B2Gold is committed to maximizing local and national economic benefits from its contracting and purchasing. The Company is conscious of the high priority that host communities and governments place on local procurement. In sourcing the goods and services necessary to run its operations, B2Gold gives preference to local businesses where possible, provided they meet minimum safety, quality, ethical, and cost requirements. In 2024, over $600 million of goods and services were procured from local and host-country businesses. Several 2024 success stories are outlined in the Report.

People

As a reputable corporate citizen, B2Gold generates national employment and opportunities for people to develop their careers, trains employees to acquire new skills, and opens doors to women, under-represented groups and previously disadvantaged people. The Company fosters positive and productive engagement with employees, provides safe workplaces, and believes that investing in people attracts and retains talented individuals and assists in their abilities to provide for themselves, their families and their futures.

At the end of 2024, B2Gold employed 6,478 2 people across all operations. The Company continues to maintain high local employment rates by targeting recruitment efforts at regional and national levels. Across all operations, 97% of the total workforce, and 58% of Senior Management 3 were comprised of national 4 employees.

B2Gold values a diverse workforce. In recent years, the Company has made significant strides in advancing its Equity, Diversity and Inclusion initiatives. In 2021, the adoption of a Diversity Policy by the Company's Board established a target of 30% female representation on the Board and in management-level positions, underscoring its commitment to promoting and achieving gender diversity at all levels of the organization. B2Gold is pleased to report that as of the end of 2024, 40% of Company directors identify as gender diverse.

Health and Safety

As a result of B2Gold's focus on injury prevention, the Company is once again pleased to report that for the ninth consecutive year, it has maintained a zero-fatality workplace. Additionally, B2Gold's injury rates remain amongst the lowest in the mining industry, with a Lost Time Injury Frequency Rate of 0.05 5 in 2024. These achievements underscore the Company's position as a leader in safety performance within the industry.

Communities

B2Gold maintains its social licence to operate by building trust-based relationships, actively engaging with stakeholders, and implementing community investment activities based on local ownership and development priorities. Highlights of the 2024 community investment programs include:

  • At the Fekola Complex, the 70-hectare Goungoubato Agricultural Project is supporting over 250 households affected by resettlement, directly addressing food insecurity whilst fostering small- and medium-sized enterprise growth through newly formed farmers' associations. Additionally, B2Gold continued its partnership with Global Affairs Canada and its support of the FEMA Project, which aims to improve conditions for women and children living in artisanal mining communities within the Fekola Mine's area of influence. The FEMA Project was initiated in March 2022 and will continue until 2027.

  • At the Masbate Gold Project, investment continued to focus on education, access to health services and facilities, and programs that enhance local economic opportunities, including skills training and small enterprise support. The Training for Employment Program reached its fifth year of partnership in 2024 and remains a powerful driver of economic mobility by equipping individuals with the skills and training needed to build sustainable livelihoods. Over the lifetime of the project, 1,521 individuals have received training and over 600 participants have secured employment.

  • At the Otjikoto Mine, B2Gold Namibia achieved significant milestones that reflect the Company's commitment to meeting critical needs, supporting long-term development, and fostering resilience beyond the life of the mine. Notable achievements include the completion of the Ombili Clinic, which will improve access to healthcare in the region, and the Otavi Water Project, which enhances water security through the construction of a tower and water distribution system.

  • At the Back River Gold District, B2Gold Nunavut continues to strengthen its close relationships with the Kitikmeot Inuit Association and communities across Canada's Arctic. The Company is investing in collaborative projects throughout the Kitikmeot region that promote community wellness, support youth through sports, recreation, and education, and advance initiatives focused on women and Elders. A standout initiative is the Inuit Workplace Experience Program, delivered in partnership with the Redfish Arts Society, which provides Kitikmeot Inuit youth with hands-on training in welding and fabrication—equipping them with valuable skills for employment in Nunavut's growing mineral development sector. B2Gold Nunavut remains committed to working alongside the Kitikmeot Inuit Association to advance further initiatives that ensure the benefits of the Back River Gold District reach the communities of Cambridge Bay, Kugluktuk, Gjoa Haven, Taloyoak, and Kugaaruk.

Environment

B2Gold's remains firmly committed to reducing greenhouse gas ("GHG") emissions, with a target to reduce Scope 1 and 2 emissions by 30% by 2030 against a 2021 baseline. The completion of the Fekola solar plant expansion in early 2025 underscores this commitment by advancing the decarbonization of operations through innovative and sustainable energy solutions. The expanded Fekola facility is expected to supply approximately 30% of the site's electricity demand and reduce annual emissions by an estimated 63,000 tonnes of carbon dioxide equivalent (CO 2 e).

Approach to Reporting

B2Gold is committed to the transparency of its sustainability risks, management and performance. The Report is aligned with the Global Reporting Initiative Sustainability Reporting Standards and the Sustainability Accounting Standards Board Mining and Metals Sustainability Accounting Standard . The Company firmly believes that the mining industry has an opportunity to contribute positively to the United Nations Sustainable Development Goals and it has reported its contribution in this regard since 2018.

Highlights from the 2024 Climate Strategy Update

2024 Highlights

  • B2Gold is committed to a GHG emissions reduction target of a 30% reduction in Scope 1 and 2 emissions by 2030 against a 2021 baseline.

  • The Company continued evaluation of financial impacts of key climate risks identified at sites during previous climate scenario analysis workshops.

  • The total Scope 1 and 2 GHG emissions (for the Fekola, Masbate and Otjikoto operations) remained relatively stable in 2024, with a slight decrease to an estimated 699 thousand tonnes CO 2 e compared to 701 thousand tonnes in 2023. The Company's consolidated GHG emissions intensity was 0.89 tonnes CO 2 e per gold ounce produced in 2024 (compared with 0.71 in 2023), a modest increase driven in part by a reduction in total gold production.

  • The proportion of electricity consumed at B2Gold operations from renewable sources was 21.7% in 2024. At Otjikoto, the proportion of electricity consumed from renewable sources was over 70%.

Looking Forward – 2025 and Beyond

In 2025, B2Gold looks forward to strengthening its global partnerships and deepening its commitment to the diverse communities in which it operates. The Company will continue investing in initiatives that expand vocational training and promote job creation, improve access to education, and enhance healthcare services. B2Gold believes that by building local capacity and fostering strong alignment among governments, communities, stakeholders, and the Company, it can help create resilient, healthy, and prosperous communities throughout the mining lifecycle.

As part of its climate strategy, B2Gold will continue to advance renewable energy initiatives across its operations, supporting its target to reduce Scope 1 and 2 GHG emissions by 30% by 2030 against a 2021 baseline. At the Masbate Gold Project, an 8.2-megawatt ("MW") solar plant is scheduled for installation in 2025, which will further reduce emissions and heavy fuel oil ("HFO") consumption. In Nunavut, following regulatory approvals received in 2024, B2Gold is finalizing project plans and environmental commitments for the proposed Back River Energy Centre—a renewable energy facility that could include up to thirteen wind turbines, solar panels, and battery storage, with the potential to deliver more than 55 MW of clean energy. This facility is expected to significantly reduce reliance on HFO, as well as the number of fuel barges and fuel truck trips along the winter ice road.

Beyond increasing the share of renewable energy in its operations, B2Gold is actively assessing a range of additional carbon reduction opportunities, including energy efficiency improvements, the use of alternative fuels, and optimization of materials movement. The Company remains committed to innovation by working closely with industry-leading partners and staying prepared to adopt emerging technologies that align with its decarbonization goals.

About B2Gold

B2Gold is a responsible international senior gold producer headquartered in Vancouver, Canada. Founded in 2007, today, B2Gold has operating gold mines in Mali, Namibia and the Philippines, the Goose Project under construction in northern Canada and numerous development and exploration projects in various countries including Mali, Colombia and Finland.

ON BEHALF OF B2Gold Corp.

"Clive T. Johnson"
President and Chief Executive Officer

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Refinery Settlement   #2
LBS. (WET) 265
MOISTURE 16.20%
LBS (DRY) 222
DST 0.111
Au oz/dst 5.614
Ag oz/dst 2.506
Au: 0.623 oz
Ag: 0.278 oz
Metal Price May 20, 2025
Au $3,261.55
Ag $32.50
Total Value $1,836.88


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Brixton Metals Commences Drilling at its Thorn Copper-Gold Project

Brixton Metals Commences Drilling at its Thorn Copper-Gold Project

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2025 Thorn Exploration Plan Highlights:

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