Blue Moon Metals and Alpha Future Funds Announce Signing of Binding Agreement to Combine Holdings in the Sulitjelma Mining District, Norway

Blue Moon Metals Inc. and Alpha Future Funds (AFF) have signed a binding share purchase agreement to merge their Norwegian subsidiaries, Nye Sulitjelma Gruver AS (NSG) and VMS Explorations AS (VMS), into a single consolidated entity. The transaction values the acquisition of NSG at US$15 million, payable entirely in new VMS shares, granting Blue Moon a 30% pre-listing ownership stake in the combined company. An anti-dilution provision ensures Blue Moon maintains its 30% interest if additional VMS shares are issued prior to completion.

Completion is strictly contingent upon raising a minimum of C$10 million in new capital and successfully listing the combined entity on a recognized stock exchange within 18 months. The Sulitjelma district historically produced over 470 kt of copper and 130 koz of gold over a century, featuring existing surface and underground infrastructure and access to clean hydropower. The strategic rationale centers on prioritizing high-grade zone mining, centralized haulage, and processing to improve project economics and accelerate advancement toward production. The transaction was conducted at arm's length with no finder's fees or advisory fees payable.

Blue Moon Metals Inc. (MOON) issued this announcement as a direct follow-up to the non-binding Letter of Intent signed on April 21, 2026. The move represents an expected, incremental step rather than a surprise market event.

The binding agreement de-risks the Norwegian portfolio by creating a focused, investable vehicle for the Sulitjelma district. Securing a 30% stake provides Blue Moon with significant upside exposure to the combined entity's potential, particularly given the district's historical output and recent 2025 exploration successes, which included two new Cu-Au discoveries and 18 drill targets.

A C$10 million capital raise condition serves as a near-term catalyst but also introduces a minor liquidity and dilution event. Management must execute this raise to unlock the consolidation.

While strategically sound and aligned with the company's brownfield development thesis, the news does not alter the primary value driver, which remains Nussir's path to production in late 2027, nor does it introduce fundamentally new valuation metrics.

Blue Moon Metals Inc. (MOON) is a mineral exploration and development company advancing a diversified portfolio of brownfield projects across Norway and the United States. Its flagship asset is the Nussir Copper-Gold-Silver project in northern Norway. A NI 43-101 Feasibility Study released in April 2026 outlines a 13-year mine life featuring a 6,000 tpd processing facility. Base case economics indicate an after-tax net present value of $235 million at an 8% discount rate and an internal rate of return of 19%. The project’s life-of-mine C1 cash cost is projected at $0.95 per pound of copper. Following the approval of the Final Investment Decision, production is targeted for the fourth quarter of 2027.

The company’s secondary assets include the Blue Moon Polymetallic project in California, the Springer Tungsten project in Nevada, the Apex Germanium-Gallium project in Utah, and the Sulitjelma district in Norway. Strategically, Blue Moon Metals is building a "hub-and-spoke" system. This model utilizes the Springer mill as a central processing hub for smaller, high-grade underground critical metals mines in the western US, while simultaneously advancing Nussir as a major copper producer.