Mr. Christian Kargl-Simard reports

BLUE MOON METALS AND ALPHA FUTURE FUNDS S.C.S. ANNOUNCE NON-BINDING AGREEMENT TO COMBINE HOLDINGS IN THE SULITJELMA MINING DISTRICT, NORWAY

Blue Moon Metals Inc. and Alpha Future Funds SCS (AFF) have entered into a non-binding letter of intent (LOI) on April 2, 2026, to combine their wholly owned subsidiaries, Nye Sulitjelma Gruver AS (NSG) and VMS Explorations AS (VMS), into a single entity. AFF is a private fund based in Luxembourg investing in innovative technologies and mining projects.

NSG and VMS hold extraction and exploration permits over the historic Sulitjelma mining district in the Fauske municipality of Norway. The Sulitjelma mine produced over 470,000 tonnes copper and 120,000 ounces gold over a 100-year life until 1991 and benefits from excellent existing surface and underground infrastructure ready to be refurbished, including connection to abundant clean hydropower. A 2025 exploration campaign undertaken by VMS also made two new copper-gold discoveries and identified a further 18 drill targets based on a district-scale AEM survey.

Combining NSG and VMS is expected to allow for an integrated development opportunity prioritizing mining of targeted high-grade zones and centralized haulage and processing to strengthening project economics and streamline advancement toward production.

The LOI contemplates up to a four-month period to complete due diligence and negotiate a definitive agreement. Blue Moon and AFF are committed to restart the historic Sulitjelma mining district and re-establish Norway as a hub for metals and mining in Europe.

Qualified persons

The technical and scientific information of this news release has been reviewed and approved by Shawn Crispin, an employee of Orefinder Mining Consultants LLC FZ, and an independent qualified person as defined by National Instrument 43-101. This news release references the combined NSG and VMS holdings of the Sultijelma project.

About Blue Moon Metals Inc.

Blue Moon is advancing five brownfield polymetallic projects, including the Nussir copper-gold-silver project in Norway, the NSG copper-zinc-gold-silver project in Norway, the Blue Moon zinc-gold-silver-copper project in the United States, the Springer tungsten-molybdenum project in the United States and the Apex germanium-gallium-copper project in the United States. All five projects are well located with existing local infrastructure including roads, power and historical infrastructure. Zinc, copper and tungsten are currently on the USGS and EU (European Union) lists of metals critical to the global economy and national security, and germanium and gallium are also on the USGS list of critical metals. Major shareholders include Teck Resources Ltd., funds managed by Oaktree Capital Management, Hartree Partners LP, Wheaton Precious Metals, Altius Minerals Corp., Baker Steel Resources Trust, LNS and Monial.

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