Mr. Christian Kargl-Simard reports

BLUE MOON METALS CLOSES PREVIOUSLY ANNOUNCED ACQUISITION OF THE GAGE PROJECT LOCATED IN WASHINGTON COUNTY, SOUTHERN UTAH AND APPOINTS REZA EHSANI AS SENIOR VICE PRESIDENT, PROJECTS

Blue Moon Metals Inc. has successfully closed its previously announced acquisition of the Gage project, located in Washington county, southern Utah, United States, from Liberty Gold USA Inc., a subsidiary of Liberty Gold Corp., as described in the press release on March 18, 2026.

In connection with the closing of the acquisition, Blue Moon wishes to highlight the following:

• The acquisition is at arm's length between the company and Liberty Gold USA with no finders' fees being paid on the acquisition.
• The Gage project consists of 181 unpatented mining claims located on Bureau of Land Management lands and two Utah School and Institutional Trust Lands Administration (SITLA) leases, for a total area of 5,916 hectares.
• As part of the acquisition, Blue Moon issued 420,935 common shares of Blue Moon to Liberty Gold.
• As part of the acquisition, Blue Moon assumes a 4.0-per-cent production royalty in respect of the SITLA leases for non-fissionable materials mined, which increases to 8.0 per cent for fissionable materials.
• As part of the acquisition, Blue Moon granted a 2.0-per-cent net smelter return royalty on mineral production from the claims in the Gage project, excluding the land subject to SITLA leases, in favour of Liberty Gold USA, with an option in favour of the company to repurchase 1.0 per cent of the NSR royalty at any time prior to achieving commercial production for a cash payment of $2-million (U.S.).

Appointment of Reza Ehsani to senior vice-president, projects

The company is pleased to announce the appointment of Mr. Ehsani as senior vice-president, projects. Mr. Ehsani has been with the company over the past year, where he has played a key role in advancing the company's project portfolio and supporting critical development initiatives. Mr. Ehsani is a seasoned project executive with over 29 years of experience across the mining and metals, oil and gas, and infrastructure sectors. He has led the delivery of complex projects from early-stage studies through EPCM (engineering, procurement and construction management) and construction, managing large, multidisciplinary teams. His experience spans project execution, contract negotiation, stakeholder and regulatory engagement, and full life-cycle cost and risk management.

"We are pleased to announce Mr. Ehsani's appointment to senior vice-president, projects," said Christian Kargl-Simard, chief executive officer of Blue Moon. "Over the past year, Reza has been instrumental in advancing our project pipeline, and this appointment reflects both his contributions to date and the critical role he will continue to play as we move into the next phase of development. His technical expertise and execution-focused approach will be key as we progress our projects toward construction and operations."

About Blue Moon Metals Inc.

Blue Moon is advancing five brownfield polymetallic projects, including the Nussir copper-gold-silver project in Norway, the NSG copper-zinc-gold-silver project in Norway, the Blue Moon zinc-gold-silver-copper project in the United States, the Springer tungsten-molybdenum project in the United States and the Apex germanium-gallium-copper project in the United States. All five projects are well located with existing local infrastructure, including roads, power and historical infrastructure. Zinc, copper and tungsten are currently on the USGS (U.S. Geological Survey) and EU (European Union) lists of metals critical to the global economy and national security and germanium and gallium are also on the USGS list of critical metals. Major shareholders include Teck Resources Ltd., funds managed by Oaktree Capital Management, Hartree Partners LP, Wheaton Precious Metals Corp., Altius Minerals Corp., Baker Steel Resources Trust, LNS and Monial AS.

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