Mr. Patrick McGrath reports

BLUE MOON RESPONDS TO DISSIDENTS

Blue Moon Metals Inc. has updated its shareholders on current plans for Blue Moon and to address the McClintock Group's press release dated April 27, 2023.

The current team has a plan for Blue Moon shareholders, including adding a proven technical team member, seeking new and alternative financing initiatives, advancing the company's current project and identifying acquisitions that add value.

There are no agreements or plans to sell the Blue Moon project, as incorrectly implied in the McClintock Group letter.

After almost 15 years of John McClintock's involvement with Blue Moon, shareholders should be looking to the current team for a new direction and not the McClintock Group.

After resigning once in 2015 and again in 2023, John McClintock has had his chance.

The bottom line is John McClintock has led Blue Moon for 14.5 of the last 16 years without success. He resigned as director and chief executive officer abruptly in 2015 and resigned again in February, 2023. If Blue Moon shareholders want a different plan than the last 16 years, they should be looking to the current team. If shareholders want the same approach as the last 16 years, then they should support John McClintock and the McClintock Group.

Blue Moon welcomes technical adviser

The company has welcomed Tom Henricksen as its key technical adviser. John Henricksen is a geologist and the recipient of the Colin Spence Award by the AME (Association for Mineral Exploration) for Excellence in Global Mineral Exploration in 2018 for his role in the discovery of the Hod Maden volcanogenic massive sulphide/epithermal deposit in Turkey. The company is excited about the opportunity to work with John Henricksen considering his recent success of Hod Maden, which was acquired by Sandstorm Gold in 2017 for approximately $175-million (U.S.).

New financing initiatives

Two thousand twenty-two 2022 was a tough year for the junior mining sector, and this included Blue Moon. This was coupled with a longer-than-expected reclamation work plan on the Blue Moon project following the 2021 drill program, which took the better part of 2022 to complete.

For the financing plan, the company's management has been active in identifying potential strategic investors while also reviewing the Department of Energy's funding in the United States for the advancement of domestic critical metals. These funding opportunities offer a longer-term approach for the advancement of the Blue Moon project. During Patrick McGrath's tenure with the company, he closed approximately $3.7-million in equity financings.

To address the McClintock Group's letter

John McClintock has led Blue Moon for 14.5 of the last 16 years without any material success

Blue Moon went public in 2007 at 35 cents per share with John McClintock as the founding chief executive officer. John McClintock abruptly resigned as chief executive officer and director on Oct. 5, 2015, to pursue other business interests when the share price was five cents. John McClintock held the position as chief executive officer for eight years with no material advancement or success with any of the company's projects.

John McClintock teamed up with Mr. McGrath in February, 2017, and took over the board and management of the company in April, 2017. John McClintock continued to lead the technical activity from his appointment in 2017, until he again resigned in February, 2023.

If shareholders are looking for a change in vision and direction, they should not consider supporting the McClintock Group as it has led the company and its technical direction for 14.5 of the last 16 years.

Prior meetings and proposal with Michael McClintock

The company met with Michael McClintock on multiple occasions during 2022 and 2023 and discussed Michael McClintock's proposals, none of which included a meaningful business plan and no indications of access to capital nor any prior public company experience. Michael McClintock's proposals came with onerous terms on the company that the board would not accept. The company offered a compromise for Michael McClintock to accept an officer or director role with the company, which he rejected. In the McClintock's Group press release, it indicated Michael McClintock will be the interim chief executive officer, falling short of a full commitment to the role of chief executive officer, with no indication of who will be leading the company.

Current management is committed to Blue Moon

Blue Moon directors and officers collectively hold 13 per cent of the company's shares and have further unsolicited support of other shareholders, for a total of approximately 21 per cent of the company's shareholders. In addition, Mr. McGrath personally financed a $306,000 loan to the company to ensure expenses were paid to protect and maintain the company and its assets; and Mr. McGrath participated in equity financings/debt settlements of approximately $244,000. During this same period, John McClintock invested zero funds in Blue Moon financings as the lead technical director of the company.

With the McClintock Group, there is no recent evidence of any record of raising funds and no mention in their news release of how it will finance Blue Moon.

McClintock's are incorrect on plans to sell the Blue Moon project

The company has no agreement to sell the Blue Moon project nor any plans to sell the Blue Moon project, as incorrectly implied by the McClintock Group. John McClintock was a director until Feb. 13, 2023, and participated in board discussions; it does not match with this narrative. The company needs additional capital to maintain and advance the Blue Moon project. The company's current team has financed the company. To date, the McClintock Group has provided no answers on how it intends to finance the company.

Open to working with the McClintock Group

The Blue Moon directors remain open to working with the McClintock Group to advance the company and the Blue Moon project for the interests of all shareholders.

About Blue Moon Metals Inc.

Blue Moon Metals is currently advancing its Blue Moon polymetallic deposit, which contains zinc, gold, silver and copper. The property is well located with existing local infrastructure, including paved highways three miles from site, a hydroelectric power generation facility a few miles from the site, a three-hour drive to the Oakland port and a four-hour drive to the service centre of Reno. Zinc is currently on the U.S. Geological Survey list of metals critical to the U.S. economy and national security. A National Instrument 43-101 resource report is available on the company's website and was filed on SEDAR on Nov. 20, 2018. The company also holds the Yava polymetallic project in Nunavut, which is in the same volcanic lithologies and south of Glencore's Hackett River deposit.

We seek Safe Harbor.