Blue Moon to acquire Gage project for shares, NSR

Executive Summary

• Blue Moon Metals Inc. has entered into an agreement to acquire the Gage project, a germanium and gallium district in southern Utah, from a subsidiary of Liberty Gold Corp.
• The acquisition is structured as a share issuance and a net smelter return (NSR) royalty, intended to bolster Blue Moon's land position around its recently acquired Apex mine.
• The transaction is subject to TSX Venture Exchange approval, with completion expected by the end of March 2026.

Key Details

• Transaction Structure: Blue Moon is acquiring 100% of the Gage project free and clear of encumbrances (except for a 4% royalty on SITLA leases).
• Consideration:
  • Equity: Issuance of 420,935 common shares of Blue Moon to Liberty Gold.
  • Royalty: A 2.0% net smelter return (NSR) royalty on mineral production from the Gage project (excluding SITLA lease land).
  • Royalty Buyback Option: Blue Moon holds an option to repurchase 1.0% of the NSR prior to commercial production for a cash payment of $2 million USD.
• Asset Details:
  • Location: Washington County, southern Utah, USA.
  • Land Package: 181 unpatented mining claims on Bureau of Land Management lands and two Utah School and Institutional Trust Lands Administration (SITLA) leases.
  • Total Area: 5,916 hectares.
  • Geology: Located along a northwest-trending critical metal belt >5 km in length, surrounding the Apex mine. Contains similar breccia pipe styles to the Apex mine.
  • Exploration Status: No modern exploration conducted on other mapped breccia pipes (10 mapped) or regional prospects (9 mapped). Previous drilling (1980, Musto) covered only a 600-foot vertical section of a single pipe. Up to 10 pipes may be present.
• Strategic Context: CEO Christian Kargl-Simard states the acquisition bolsters the land position around the Apex mine (acquired from Teck Resources, closed March 16, 2026) and secures control of what is believed to be the most important germanium and gallium district in North America.
• Conditions and Timeline:
  • Condition Precedent: TSX Venture Exchange approval.
  • Agreement Date: March 18, 2026.
  • Expected Completion: End of March 2026.
  • Fees: No finders' fees are being paid.

Notable Quotes

• "Post the acquisition of the Apex mine from Teck Resources that closed on March 16, 2026... this acquisition bolsters our land position around the mine and control of what we believe to be the most important germanium and gallium district in North America." — Christian Kargl-Simard, CEO