Blue Moon Metals closes acquisition of Gage project

Executive Summary

• Blue Moon Metals Inc. has officially closed the acquisition of the Gage Project from Liberty Gold USA Inc. (a subsidiary of Liberty Gold Corp.).
• The transaction involved the issuance of 420,935 common shares to Liberty Gold and the assumption of specific royalty obligations.
• The company simultaneously appointed Reza Ehsani as Senior Vice President, Projects, citing his extensive experience in mining, oil and gas, and infrastructure project execution.

Key Details

• Transaction Structure: The acquisition was conducted at arm's length with no finders' fees paid.
• Asset Details: The Gage Project consists of 181 unpatented mining claims on Bureau of Land Management lands and two Utah School and Institutional Trust Lands Administration (SITLA) leases, totaling 5,916 hectares.
• Equity Consideration: Blue Moon issued 420,935 common shares to Liberty Gold as part of the acquisition.
• Royalty Obligations (SITLA Leases): Blue Moon assumes a 4.0% production royalty for non-fissionable materials, which increases to 8.0% for fissionable materials.
• Royalty Obligations (Claims): Blue Moon granted a 2.0% Net Smelter Return (NSR) royalty on mineral production from the claims (excluding SITLA land) in favor of Liberty Gold USA.
• NSR Repurchase Option: Blue Moon holds an option to repurchase 1.0% of the NSR royalty prior to achieving commercial production for a cash payment of $2 million (U.S.).
• Executive Appointment: Reza Ehsani appointed as Senior Vice President, Projects. He has over 29 years of experience and has been with the company for the past year, playing a key role in advancing the project portfolio.

Notable Quotes

• "We are pleased to announce Mr. Ehsani's appointment to senior vice-president, projects... His technical expertise and execution-focused approach will be key as we progress our projects toward construction and operations." — Christian Kargl-Simard, Chief Executive Officer