Blue Moon Announces Initial Results from Assay Campaign of Historical Drilling at Springer, Including 7.00 m of 1.28% WO3, Receives BLM Approval to Drill on Public Land and Advances Exploration Initiatives

Blue Moon Metals Inc. (MOON) has released initial assay results from a re-assay campaign of 18,000 meters of historical drill core at its Springer Tungsten Project in Nevada. The company clarified that these results stem from re-assaying existing core rather than new drilling. Approximately 64% of the historical core, totaling 11,670 meters, has been relogged, with final assays received for only 18% of the historical meterage, or roughly 3,240 meters.

Key intercepts reported, using a cutoff of 0.03% WO3, include the following:

• Surface hole NM-13: 7.00 m at 1.28% WO3 and 0.01% Mo from 160 m.
• Surface hole NM-44: 24.25 m (13.72 m true width) at 0.22% WO3 and 0.03% Mo from 249 m, including 9.55 m (5.40 m true width) at 0.53% WO3 and 0.12% Mo.
• Underground hole SU-27: 8.24 m (6.34 m true width) at 0.64% WO3 and 0.01% Mo from 59 m, including 3.09 m at 1.19% WO3.

Other intervals largely reported grades at or below 0.6% WO3. These include NM-33 (1.33 m at 2.30%; 4.63 m at 0.27%), NM-35 (2.62 m at 0.14%), NM-36 (3.10 m at 0.15%), NM-46 (3.60 m at 0.51%), NM-49 (3.29 m at 0.03%; 4.91 m at 0.06%), SU-26 (7.07 m at 0.33%), SU-30 (4.02 m at 0.14%), SU-32 (3.30 m at 0.14%), SU-34 (4.66 m at 0.18%), SU-37 (7.01 m at 0.13%), and SU-38 (5.52 m at 0.22%).

The company also completed a stockpile program consisting of 499 grab samples and 79 quality control samples from 28 stockpiles, alongside a LiDAR volume survey. Assays for this material are pending, and the material is intended to serve as initial mill feed in 2027.

On the regulatory front, the Bureau of Land Management conditionally accepted Blue Moon’s Exploration Notice on August 26 and fully approved it on September 10, 2026. The approval covers 13 pads on public land to support a 67,000-meter drill campaign, as well as auger tailings sampling.

Additionally, Elmet issued Blue Moon warrants to purchase 1,166,970 Elmet shares at US$21.423. This transaction implements the binding letter agreement dated September 14, 2026.

Blue Moon Metals Inc. (MOON) is an advanced, multi-asset developer and near-producer, distinguished by a completed Nussir feasibility study with approximately US$235 million in after-tax net present value and a final investment decision, alongside four other brownfield projects. This status as a developer rather than a grassroots explorer sets a high materiality bar for the historical re-assay of a single project.

The Springer property currently holds no NI 43-101 resource; its existing 10.7 million tonnes at 0.44% WO3 is based on 1984 historical data. This release does not create a new resource, add tonnes, change mine life, or alter net asset value. Instead, it validates existing data to enable a forthcoming drilling campaign.

Approval of the Exploration Notice by the Norwegian Environment Agency serves as a genuine enabler for the previously announced 67,000-meter program. The program was already disclosed in a July 7, 2026 release, meaning the approval represents an anticipated permitting step rather than new information regarding the scale of the work.

There is no prior Springer assay anchor to beat, as the last company update was the drill-program announcement. The stock has drifted from C$11.59 in April to approximately C$7.50 and did not re-rate following the September 14 Elmet transaction, remaining near the middle of its 52-week range. Consequently, the current price does not appear to be pricing in a repeat of these numbers, nor does this update establish new scale.

For a multi-project developer with a market capitalization of approximately C$0.8 billion, a validation-stage re-assay of one asset is considered low-impact.

Blue Moon Metals Inc. (TSXV: MOON / NASDAQ: BMM) is a critical-metals developer advancing five brownfield projects. The company holds a 94.5% interest in Nussir, a copper-gold-silver project in Norway. A feasibility study was completed in April 2026, outlining a 13-year mine life with production targeted for December 2027. The project is designed to process approximately 6,000 tonnes per day and features an after-tax net present value of roughly US$235 million and an internal rate of return of 19%. A final investment decision has been taken.

In California, Blue Moon is developing a zinc-gold-silver-copper volcanogenic massive sulphide (VMS) deposit. An underground decline is currently underway, with approximately 16,000 metres of infill drilling planned. Meanwhile, the company holds a 100% interest in the Springer tungsten-molybdenum skarn project in Nevada. This asset includes a 1,200 tonnes per day flotation mill and an ammonium paratungstate (APT) circuit. Historical, non-compliant resources indicate 10.7 million tonnes at 0.44% WO3, with a restart targeted for the fourth quarter of 2027.

Blue Moon also holds a 100% interest in the Apex germanium-gallium-copper project in Utah and the Gage land package. The company is folding the Namsos-Sunndal (NSG) copper-zinc project in Norway into a combined VMS entity. Additionally, Blue Moon has a letter of intent to acquire the Ropa Portfolio, which comprises 33 tungsten-antimony projects in the western United States. Major shareholders include Teck Resources, Oaktree, Hartree, Wheaton, Altius, Baker Steel, LNS, and Monial.