Blue Moon Metals Closes Previously Announced Acquisition of the Gage Project Located in Washington County, Southern Utah and Appoints Reza Ehsani as Senior Vice President, Projects

The most recent news (April 2, 2026) confirms the closing of the Gage Project acquisition in Southern Utah from Liberty Gold USA. Blue Moon issued 420,935 common shares as consideration. The project includes 181 mining claims and two SITLA leases. Key royalty terms involve a 4% production royalty on SITLA leases (8% for fissionable materials) and a 2% NSR on other claims, with a US$2 million buyback option for 1% of the NSR. Additionally, the company appointed Reza Ehsani as Senior Vice President, Projects, to oversee the transition toward construction and operations.

The news is Routine - Positive. While the acquisition is strategic, it was previously announced on March 18, 2026, and the share issuance is relatively small (less than 0.5% dilution). - Strategic Fit: This consolidates the "Apex District," following the March 16 closing of the Apex Mine purchase from Teck. It secures a dominant land position in a rare Germanium/Gallium district. - Execution: The appointment of a dedicated SVP for Projects suggests management is shifting focus from "deal-making" to "mine-building," which is necessary given the company now manages four major projects across two continents. - Financials: The US$2M royalty buyback option provides a clear path to improving future project economics, though it represents a future cash outflow.

Blue Moon Metals is a diversified developer of critical minerals (Zinc, Copper, Tungsten, Germanium, Gallium). - Flagship Project: The Nussir Copper-Gold-Silver Project in Norway. It is an advanced-stage project with a "Strategic" designation from the EU. - Secondary Flagship: The Blue Moon VMS project in California, currently undergoing underground decline construction to access high-grade Zinc-Gold-Silver-Copper ore.