Blue Moon Acquires the Turner Copper-Gold VMS Deposit to Further Advance its Western U.S. Critical Mineral Hub and Spoke Model

Blue Moon Metals Inc. has signed a definitive agreement to acquire 100% of the Turner Copper-Gold VMS deposit in Oregon for approximately $31.7 million in cash and equity. The transaction structure includes a $4.7 million upfront cash payment, which includes a $500,000 deposit, and 4,778,761 common shares valued at approximately $27 million based on a 20-day VWAP of $5.65 per share. Additionally, the deal includes $7 million in milestone payments tied to permitting and production.

The asset carries a 1.5% NSR royalty and historical resource data from a 2010 PEA, consisting of 2.447 Mt Indicated and 2.084 Mt Inferred resources. Management explicitly notes that this data is not yet verified by a Qualified Person. The strategic rationale centers on a "Hub and Spoke" model, aiming to integrate Turner with the Blue Moon Mine and Springer complex to leverage nearby rail infrastructure and a planned 1,800 tpd mill at Springer.

Future plans include initiating permitting for exploration and development, a process expected to take 12-18 months. The company will also conduct metallurgical studies to verify comingling potential and is targeting a PEA completion by the end of 2027.

Blue Moon Metals Inc. (MOON) has moved forward with an acquisition that serves as an incremental step in its aggressive "Hub and Spoke" expansion strategy, following recent purchases of Springer, Apex, and a 33-project portfolio. The transaction involves the issuance of approximately 4.78 million shares and requires an immediate cash outlay. However, the company recently closed a $156.25 million bought-deal offering and secured a $150-175 million strategic investment package from The Elmet Group, providing sufficient liquidity to absorb the cost.

The historical resource associated with the deal is unverified, and metallurgical synergy with Springer remains theoretical until test work is completed. Permitting in Oregon is expected to take 12-18 months, which will delay any near-term cash flow contribution from the asset.

Blue Moon Metals Inc. (MOON) is a mineral exploration and development company advancing polymetallic brownfield projects in Norway and the United States. Its flagship asset is the Nussir project in Norway, which features a 13-year mine life and a 6,000 tpd underground mine. A feasibility study for Nussir indicates an after-tax net present value (NPV) of $235 million and an internal rate of return (IRR) of 19%. The company approved its Final Investment Decision in April 2026, with production targeted for the fourth quarter of 2027.

The company’s U.S. portfolio centers on the Springer Tungsten complex in Nevada, which was acquired in February 2026 and serves as the regional metallurgical hub. Other key assets include the Blue Moon Mine in California, the Apex Germanium-Gallium Mine in Utah, and the newly acquired Turner VMS deposit in Oregon. Blue Moon Metals is executing a "Hub and Spoke" model, utilizing Springer’s 1,200 tpd mill and APT plant to process ore from smaller, high-grade underground mines across the western U.S.