Blue Moon Metals Reports Significant Development Momentum on its Norwegian Projects

Executive Summary

• Blue Moon Metals reports steady underground decline advancement at the Nussir project (656 m to date) and completion of Phase 1 early works, with Phase 2 underway.
• A 4,000‑metre directional drilling campaign has begun at Nussir targeting a high‑grade historic intersection and aiming to expand the mineral resource estimate; initial results could add 8.5–16.5 Mt at 0.7%–1.3% Cu with notable Pd/Pt grades.
• At the NSG Copper‑Zinc project, tunnelling work has resumed, detailed geological mapping is complete, and a 10,000‑metre underground exploration program is slated to start soon on an inferred 9.23 Mt resource.

Key Details

• Nussir Underground Decline: 656 m of decline constructed as of 27 Nov 2025; contractor LNS continues work on Phase 2 surface preparations and substation pad.
• High‑Voltage Transformer Secured: Long‑lead equipment procured, reducing schedule risk for underground access and early‑stage infrastructure.
• Feasibility Study: Major design reviews completed; full NI 43‑101 compliant study expected in February 2026, updating May 2023 JORC study with revised operating & capital cost assumptions.
• Directional Drilling Campaign (Nussir):
• Total planned length: ~4,000 m from a single mother hole (max depth ≈1,250 m).
• Targeting 650 m gap to historic high‑grade intersection NUS‑DD‑14‑001 (9.7 m @ 0.93% Cu, 1.35 g/t Pd, 0.28 g/t Au, 0.61 g/t Pt, 11.5 g/t Ag).
• Six daughter holes to be drilled with wedge points at 400–700 m; spacing ~200 m for potential inferred resource conversion under CIM guidelines.
• Exploration target: 8.5‑16.5 Mt @ 0.7%‑1.3% Cu, 9‑17 g/t Ag, 0.1‑0.15 g/t Au; also testing for elevated Pt/Pd at depth.
• Current Nussir Mineral Resource Estimate (as of Jan 2025):
• Indicated: 28.72 Mt @ 1.02% Cu, 0.12 g/t Au, 12.3 g/t Ag.
• Inferred: 32.0 Mt @ 1.01% Cu, 0.14 g/t Au, 14.6 g/t Ag.
• NSG Copper‑Zinc Project – Infrastructure: Contractor Fauskebygg mobilized Sep 2025; portal face improvements completed; first 50 m of tunnel slashing underway to correct cross‑section irregularities.
• Geological Mapping & Core Relogging (NSG): Completed detailed mapping across all permit areas; historic Rupsi drill core being relogged at NGU National Core Archive, identifying new exploration targets.
• Planned NSG Underground Exploration: 10,000 m program targeting infill and expansion drilling on a 9.23 Mt inferred resource (1.19% Cu, 0.31% Zn); potential to add Au, Ag, S, Co.
• RSU Grant: 385,415 Restricted Share Units awarded to officers; vest over two years, each RSU convertible into one common share.

Notable Quotes

(No direct quotes were provided in the release.)