BMM News & Events

Blue Moon Metals announced the completion of a feasibility study for its Nussir project, located in northern Norway. The Feasibility Study results are supported by an independent technical report prepared in accordance with National Instrument 43-101 - Standards of Disclosure for Mineral Projects. The Feasibility Study was commissioned by Blue Moon and carried out by Worley Europe Limited with an effective date of April 14, 2026. The Feasibility Study provides an update to certain previously prepared studies on the Project, including a 2023 study of feasibility prepared in accordance with the Joint Ore Reserves Committee Code, and the technical report titled "Report 43-101 Technical Report On The Mineral Resources Of The Nussir And Ulveryggen Projects, Norway", dated January 24, 2025 with an effective date of January 20, 2025, prepared by Adam Wheeler. This Feasibility Study considers only the underground resource estimate in the Nussir deposit and not the Ulveryggen deposit. The Company believes the results of the Feasibility Study confirm the Project's potential as a robust, long-life asset with strong economics, including base case average annual free cash flow of $77 million. The FS outlines a 13-year mine life, while the deposit remains open to the west and at depth, providing significant upside potential for future resource growth and mine life extension. The opportunities section as outlined below, shows the economics of adding 5 years to the mine life utilizing 50% of the inferred resources adds 52% to the base case consensus pricing after-tax NPV 8%. The Feasibility Study provides strong support to allow Blue Moon to make a final investment decision and it confirms the timeline to hot commissioning of the process plant is Q3 2027. Highlights: Total measured and indicated resource for Project is 28.72 Mt at 1.20% CuEq grade. Total proven and probable reserve estimate is 24.98 Mt at 0.99% CuEq grade. Life of mine is 13 years with nominal mill throughput of 6,000 tonnes per day. Life of Mine average annual production of 19 kt of CuEq including an average of 3,600 ounces of gold and 546,000 ounces of silver in the consensus price scenario. LOM total cash costs of $0.95 per pound of copper and all-in sustaining costs of $2.05 per pound of copper resulting in an all-in sustaining cost cashflow margin of 43% utilizing consensus pricing. After-tax Net Present Value of $235 million at a long-term copper price of $4.78 per pound, gold price of $3,515 per ounce and silver price of $45.26 per ounce. At consensus pricing the payable metal mix breakdown is 77% copper, 6% gold and 13% silver. After-tax Internal Rate of Return of 19% for the 13 year mine life and consensus pricing and 31% at spot pricing. Initial capital expenditures of $184 million. Additionally, the Company has advanced the basic engineering for the Project and has placed purchase orders for the long lead equipment required for the process plant. The Company has also purchased the main power transformer for the project to de-risk Project execution schedule. So far, approximately $46.7 million has been spent by Blue Moon on the Project; the decline advance is 1,548 meters as of April 15, 2026, and is expected to be in proximity to the target mineralized material in mid-2026.

Liberty Gold (LGDTF) announces that, through its subsidiary Liberty Gold USA Inc., it has entered into an asset purchase agreement with a subsidiary of Blue Moon Metals (BMM), whereby Liberty Gold will divest its copper-gallium-germanium Gage Project located in southern Utah, for consideration of 420,935 common shares in Blue Moon plus a 2.0% net smelter return royalty. The Project, which is comprised of interests in certain unpatented critical minerals focused mining claims and School and Institutional Trust Lands Administration leases, was deemed a non-core asset and was the subject of a review of divestiture options as announced by the Company in late December 2025. Under the terms of the Agreement, on closing of the Transaction, Liberty Gold will receive total consideration comprised of: Approximately $2M via the receipt of 420,935 common shares of Blue Moon; and A 2.0% net smelter return royalty, payable on mineral production on the Project, excluding land subject to SITLA leases, and subject to an option in favour of Blue Moon to repurchase 1.0% of the NSR at any time prior to achieving commercial production for a cash payment of $2M. The Agreement contains certain representations and warranties, covenants and indemnities customary for a transaction of this nature. All shares of Blue Moon received as consideration in the Transaction will be subject to a hold period under applicable Canadian securities laws, which will expire four months plus one day from closing of the Transaction. Closing of the Transaction remains subject TSX-V regulatory approvals, as well as customary closing conditions for a transaction of this nature, and is expected to occur within 30 days. No advisory fees have been paid in relation to the Transaction.

Blue Moon Metals announces that it has entered into an agreement to acquire the Gage Project, located in Washington County, Southern Utah, USA, from a subsidiary of Liberty Gold for consideration of 420,935 common shares of Blue Moon and a 2.0% net smelter return royalty on certain concessions. Christian Kargl-Simard, CEO of Blue Moon states, "Post the acquisition of the Apex Mine from Teck Resources that closed on March 16, 2026, this Acquisition bolsters our land position around the mine and control of what we believe to be the most important germanium and gallium district in North America. The Gage Project contains similar style breccia pipes as at the Apex Mine, which hosts the only historic primary germanium and gallium mine in the western world."