Blue Moon Metals Completes Feasibility Study For Its Nussir Project, In Northern Norway

Strong Economic Results, Including Average Annual Free Cash Flow of $77M using Consensus Prices

TORONTO, April 16, 2026 /PRNewswire/ - Blue Moon Metals Inc. ("Blue Moon" or the "Company") (TSXV:MOON) (NASDAQ:BMM) is pleased to announce the completion of a feasibility study ("Feasibility Study" or "FS") for its Nussir project ("Project"), located in northern Norway. The Feasibility Study results are supported by an independent technical report (the "Technical Report") prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101"), which is expected to be filed on SEDAR+ at www.sedarplus.ca within 45 days. 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 (JORC), 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 (as amended and restated on September 12, 2025) with an effective date of January 20, 2025, prepared by Adam Wheeler, B.Sc., M.Sc., C.Eng., Eur Ing., FIMMM. This Feasibility Study considers only the underground resource estimate in the Nussir deposit and not the Ulveryggen deposit. All financial figures herein are presented in United States dollars.

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 (and approximately $125 million at spot prices on March 4th, 2026). 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.