Mr. Christian Kargl-Simard reports

BLUE MOON METALS AWARDS EPC CONTRACT FOR NUSSIR PROCESSING PLANT AND RECEIVES APPROVAL OF WASTE MANAGEMENT PLAN, FINAL MINE PLAN AND EXTENDED DISCHARGE PERMIT

Blue Moon Metals Inc. has hit several significant milestones toward advancing its Nussir copper-silver-gold project in the Hammerfest municipality, Norway: a) the award of an engineering, procurement and construction (EPC) contract for the project's processing plant, b) the approval of the waste management plan by the Norwegian Environment Agency, together with a corresponding update to the project's discharge permit, c) the approval of the project's updated mine operating plan from the Norwegian Directorate of Mines.

EPC contract -- Nussir processing plant

Blue Moon has awarded MOMEK Services AS, a company within MOMEK Group, an EPC contract for the civil, structural, mechanical and piping scope of the Nussir processing plant. The contract scope includes detailed design, construction of buildings, equipment foundations, structural steel, piping and pipe supports, and the balance of mechanical equipment not directly procured by Blue Moon, and installation of the company supplied equipment. The award is consistent with the execution plan set out in the April, 2026, feasibility study on the project and advances the project toward full-scale construction and production in Q4 2027.

MOMEK Group is a leading Norwegian industrial group established in 1998, headquartered in Mo i Rana, with over 600 employees and annual revenue of approximately 100 million euros. The group provides engineering, construction, mechanical installation and fabrication services across the mining industry, oil and gas, renewable energy, and defence sectors, and holds ISO 9001, ISO 14001 and ISO 45001 certifications.

Mine waste management plan approval and updated discharge permit

In Q2 2026 the Norwegian Environment Agency approved the mine waste management plan for the Nussir project, which included a public comment period, and issued an amendment to the discharge permit (originally granted Jan. 15, 2016, previously amended Nov. 30, 2021) incorporating the latest mine waste management plan. The approval satisfies the last outstanding regulatory condition precedent to the commencement of mine operations of the Nussir mine.

The project holds all material permits for construction and operation, including an extraction permit under the Minerals Act, an approved zoning plan under the Planning and Building Act, a discharge permit under the Pollution Control Act and an operating licence under the Minerals Act.

Mine operating plan approval

On June 18, 2026, the Norwegian Directorate of Mines approved the updated operating plan for Nussir mine as part of the operating licence awarded previously under the Minerals Act. The operating plan provides the technical details for operation and closure of the mine. In early June, underground development at Nussir exceeded the 2,000 m mark (over 1,000 m since January, 2026). Additionally, the conveyor tunnel linking the decline to the orebody and the silo tunnel to feed the mill was completed, allowing construction of the ore conveyor system between the orebody and the silo to commence.

Christian Kargl-Simard, chief executive officer of Blue Moon, stated: "The award of the EPC contract and the approval of our waste management plan and updated operating plan represent three key milestones for the advancement of the Nussir project. With our permitting framework now complete, our long-lead equipment on order, our mine decline advancing to the orebody and our key construction contracts in place, we are on track to deliver production later in 2027."

Qualified person

The technical and scientific information of this news release has also been reviewed and approved by Reza Ehsani, PEng, a Blue Moon officer, and a non-independent qualified person, as defined by National Instrument 43-101.

About Blue Moon Metals Inc.

Blue Moon is advancing five brownfield polymetallic projects, including the Nussir copper-silver-gold 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 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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