Mr. Christian Kargl-Simard reports

BLUE MOON METALS ANNOUNCES C$60 MILLION BOUGHT DEAL PUBLIC OFFERING

Blue Moon Metals Inc. has entered into a letter agreement with Bank of Nova Scotia and Canaccord Genuity Corp., acting as joint bookrunners on behalf of a syndicate of underwriters, including Cormark Securities Inc., acting as co-lead underwriter, pursuant to which the underwriters have agreed to purchase, on a bought deal basis from the company, 18.2 million common shares of Blue Moon, at a price of $3.30 per common share, for aggregate gross proceeds of $60.06-million.

Blue Moon has granted the underwriters an overallotment option to purchase, on the same terms and conditions of the offering, up to an additional 15 per cent of the common shares issued in connection with the offering. The overallotment option is exercisable, in whole or in part, by the underwriters at any time until and including 30 days after closing of the offering. The maximum gross proceeds raised under the offering will be $69,069,000 in the event the overallotment option is fully exercised.

The offering is expected to close on or about Oct. 1, 2025, and is subject to customary closing conditions, including all necessary stock exchange and other regulatory approvals.

The net proceeds from the offering are expected to be used to develop the Blue Moon project in California, confirm the ideal processing solution for the mineralized material from the Blue Moon project, additional exploration at the Blue Moon, Nussir and NSG projects, working capital, and general and administration and corporate activities, as further described in the supplement (as defined below).

In connection with the offering, the company intends to file a prospectus supplement to the company's short form base shelf prospectus dated Sept. 23, 2025, with the securities regulatory authorities in each of the provinces and territories of Canada (except Quebec). Copies of the shelf prospectus can be found, and the supplement to be filed in connection with the offering will be available, under the company's profile on SEDAR+. The shelf prospectus contains, and the supplement will contain, important detailed information about the company and the offering, including the proposed use of proceeds therefrom. Prospective investors should read the supplement and accompanying shelf prospectus, and the documents incorporated by reference therein, before making an investment decision.

The common shares may also be sold in the United States on a private placement basis pursuant to one or more exemptions from the registration requirements of the United States Securities Act of 1933, as amended, and in such other jurisdictions outside of Canada and the United States, in each case in accordance with all applicable laws, provided that no prospectus, registration statement or similar document is required to be filed in such jurisdiction.

About Blue Moon Metals Inc.

Blue Moon is advancing three brownfield polymetallic projects, including the Nussir copper-gold-silver project in Norway, the NSG copper-zinc-gold-silver project in Norway and the Blue Moon zinc-gold-silver-copper project in the United States. All three projects are well located with existing local infrastructure, including roads, power and historical infrastructure. Zinc and copper are currently on the United States Geological Survey (USGS) and European Union list of metals critical to the global economy and national security.

We seek Safe Harbor.