Mr. Christian Kargl-Simard reports

BLUE MOON METALS: NORWEGIAN MINISTRY OF TRADE, INDUSTRY AND FISHERIES UPHOLDS THE EXTENDED DEADLINE FOR START-UP OF OPERATIONS PURSUANT TO NUSSIR'S OPERATING LICENSE IN FINAL POSSIBLE APPEAL

The Norwegian Ministry of Trade, Industry and Fisheries has upheld its operating licence and the extended deadline for start-up of operations for the Nussir mine in the last possible appeal. This licence will remain in place as long as mining activities on the Nussir mine have commenced by September, 2027. Blue Moon's Nussir subsidiary in Norway has all of its required primary permits required for construction and operations (operating licence, extraction permit, environmental permit and zoning plan), with challenges to each having been exhausted in third party appeal processes. Secondary permits have either been granted or are in the application process as only required closer to operations.

Blue Moon is currently reviewing the technical aspects of the prior 2023 JORC-compliant (Joint Ore Reserves Committee) feasibility study on the Nussir mine and is engaging in basic engineering and optimization programs as well as the requested planning for preconstruction activities, which will include underground activities such as drilling for additional reserve conversion and geotechnical purposes.

Preconstruction activities are expected to commence later this year with an expected budget of approximately $30-million (U.S.), utilizing only existing brownfield surface areas. These activities are required to finalize engineering parameters as well as basic and detailed engineering activities ahead of an updated feasibility study expected in the first half of 2026. This program is fully financed through existing cash and the Hartree standby credit facility as announced on Dec. 19, 2024. More details of this plan will be announced upon commencement of the underground decline work.

Qualified person

Dustin Small, PEng, a non-independent qualified person under National Instrument 43-101, has approved the scientific and technical information related to the operations matters contained in this news release.

About Blue Moon Metals Inc.

Blue Moon is advancing three brownfield polymetallic projects, including the Nussir copper-gold-silver project in Norway, the NSG copper-zinc-gold-silver project in Norway and the Blue Moon zinc-gold-silver-copper project in the United States. All three projects are well located with existing local infrastructure, including roads, power and historical infrastructure. Zinc and copper are currently on the U.S. Geological Survey and European Union list of metals critical to the global economy and national security.

We seek Safe Harbor.