Mr. Christian Kargl-Simard reports

BLUE MOON APPOINTS CHRISTIAN KARGL-SIMARD AS CEO AND FRANCES KWONG AS CFO, AS WELL AS GARFIELD MACVEIGH AND CHRISTIAN ARAMAYO AS ADVISORS TO THE BOARD

Blue Moon Metals Inc. has made additional management changes following the annual general meeting on Oct. 17, 2024, announcement (see Oct. 17, 2024, press release). Christian Kargl-Simard, who was elected then as an independent director, will replace Patrick McGrath as president and chief executive officer. Frances Kwong, former vice-president, finance, chief financial officer and corporate secretary at Adventus Mining Corp., will replace Varun Prasad as the company's chief financial officer and corporate secretary. Both changes are effective immediately. Additional management appointments are expected in due course as the Blue Moon project advances through the previously announced preliminary economic assessment (see Oct. 10, 2024, release).

Blue Moon also is adding two non-executive advisers to the board -- Garfield MacVeigh and Christian Aramayo -- to increase the team's experience.

Mr. Kargl-Simard, incoming chief executive officer, stated: "I am very pleased to be starting as president and CEO of Blue Moon, and bringing together some of the team we had at Adventus Mining Corp., where we advanced a similar type of project from the exploration stage to permitted for construction. With our previously announced board of directors, we are excited to advance the Blue Moon deposit but are also actively looking to add additional copper or big zinc projects to augment our already strong base. Frances and I worked through over $350-million (U.S.) in equity and project financings at Adventus. Christian Aramayo worked closely with Dustin Small at Adventus through technical studies. Garfield MacVeigh has spent the most time as a geologist on the Blue Moon project, going back 35 years, and will be an invaluable addition to the team. We thank Patrick McGrath for his services, and he will remain on the board through our transition."

The respective resumes are as follows:

Mr. Kargl-Simard -- president, chief executive officer and director

Mr. Kargl-Simard has over 20 years of experience in the mining industry, having worked both in technical and finance roles. He recently led Adventus Mining on its acquisition by Silvercorp Metals in a deal worth $235-million after starting with a $2-million exploration-focused asset base in December, 2016. Prior to starting Adventus Mining, he worked for 10 years in investment banking roles at Raymond James Ltd. and Haywood Securities Inc. During his tenure in investment banking, Mr. Kargl-Simard was involved in financings, raising more than $7-billion, and he assisted in completing over 35 M&A (merger and acquisition) transactions. Mr. Kargl-Simard also worked for Dynatec up to its sale to Sherritt International Corp. in 2007, both in metallurgical engineering and corporate development roles. Mr. Kargl-Simard holds a BASc in metallurgical engineering from the University of British Columbia. Mr. Kargl-Simard also serves as the non-executive chairman of Surge Copper Corp.

Ms. Kwong -- chief financial officer and corporate secretary

Ms. Kwong is a financial professional with over 40 years of international experience from finance and strategy planning to management of financial systems implementation in mining and other industries. She has over 18 years of experience in the global mining sector, ensuring compliance with financial and regulatory requirements, and has been involved in numerous financing as well as transactions both at asset level and corporate level, serving as chief financial officer of Adventus Mining (for seven years up to its $235-million sale to Silvercorp Metals in the summer of 2024) and Vaaldiam Mining Inc. and as senior consultant for a major mining-focused equity and royalty fund. Prior to the mining sector, Ms. Kwong worked in the telecommunications and information technology industries. Ms. Kwong is a fellow of the Institute of Chartered Accountants in England and Wales and a CPA and holds a BSocSc (honours) from the University of Hong Kong.

Mr. MacVeigh -- adviser to board of directors

Mr. MacVeigh grew up in a mining family in Northern Ontario and graduated from Queen's University at Kingston in 1972 with a BSc (first-class honours) in geology. He has many years of successful exploration and development for base metal and gold deposits in Canada, the United States and Central America. Mr. MacVeigh has contributed to the discovery of the Hoyle Pond gold mine in Timmins with TexasGulf and the exploration and discovery of the large HW copper-zinc-gold-silver (volcanogenic massive sulphide) deposit with Westmin Resources on Vancouver Island. He spent several years (1983 to 1987 and 1990 to 1991) exploring and drilling the Blue Moon VMS deposits in Mariposa county, California. Most recently, he was a founding member and president and chief executive officer of Constantine Metal Resources from 2006 until his retirement in 2022. He was intimately involved in the large Palmer-RW VMS deposit discoveries (2007) and subsequent AG deposit discovery in southeastern Alaska, which continue to be explored/developed in a joint venture with Dowa Metals & Mining Ltd.

Mr. Aramayo -- adviser to board of directors

Mr. Aramayo has more than 19 years of experience in the mining industry in North America, South America, the Caribbean, Europe and Africa. Throughout his career, he has been closely associated with the practices that make for world-class mining operations and projects including challenging operations as Pueblo Viejo, Paracatu, Fruta del Norte and Tasiast. Mr. Aramayo is a chartered engineer who holds a master's degree in science from the University of Manchester (United Kingdom) in decision sciences and a master's degree in metallurgy. He currently is the chief operating officer of Kuya Silver. He was also a technical adviser to Adventus Mining's board of directors.

Annual grant of equity incentive awards and share-based compensation

The company has awarded a total of 1,775,000 restricted share units and deferred share units to various directors, advisors and consultants of the company pursuant to the company's share compensation plan. The restricted share units will vest annually over a three-year period from the award date and the deferred share units awarded to non-executive directors will vest upon their departure from the company. It has also granted an aggregate of 1.15 million incentive stock options under the company's share compensation plan to officers and advisers, with an exercise price of 34 cents per stock option, exercisable for a period of five years from the date of grant and vesting over three years.

About Blue Moon Metals Inc.

Blue Moon Metals is 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 and copper are currently on the U.S. Geological Survey list of metals critical to the U.S. economy and national security.

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