Mr. Christian Kargl-Simard reports

BLUE MOON METALS ANNOUNCES UPSIZE OF BOUGHT DEAL PUBLIC OFFERING TO C$75 MILLION

Blue Moon Metals Inc., as a result of strong investor demand, has entered into an amended 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, Haywood Securities Inc. and Fearnley Securities AS, to increase the size of its previously announced bought deal public offering from aggregate gross proceeds of $60.06-million to $75.24-million, pursuant to which the underwriters have agreed to purchase, on a bought deal basis from the company, 22.8 million common shares of Blue Moon at a price of $3.30 per common share.

Blue Moon has granted the underwriters an overallotment option to purchase, on the same terms and conditions of the upsized offering, up to an additional 15 per cent of the common shares issued in connection with the upsized 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 upsized offering. The maximum gross proceeds raised under the upsized offering will be $86,526,000 in the event the overallotment option is fully exercised.

The upsized 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 upsized 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).

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.