Blue Moon Reports Assay of 0.18% Germanium, 0.027% Gallium and 1.96% Copper from Bulk Sample at Apex and Provides Apex Project Update

This initial sampling program represents the first results following the closing of the acquisition of Apex from a subsidiary of Teck Resources Limited on March 16, 2026. A 100 kg sample was obtained from Apex and sent to the laboratory for analysis ahead of metallurgical testing. The sample was crushed and blended, with assay results highlighting 0.180% germanium, 0.0273% gallium and 1.96% copper. With assay results in hand, Blue Moon will continue with its planned metallurgical program to determine its own flowsheet options and also explore near term commercialization options.

Prices of germanium and gallium have seen material increases in recent months, with Fastmarkets estimating current spot prices for Rotterdam delivery of germanium and gallium metal of $10,500/kg Ge and $2,650/kg Ga. At spot prices, including CME Group spot copper prices of approximately $6.00/lb Cu, one ton of Apex ore at the above grades would have an in-situ value of ~$18,000, prior to accounting for recoveries and payability.

A historical reserve estimate by Ken Krahulec in 2018 estimated 1 Mt @ 0.087% Ge, 0.033% Ga, 1.8% Cu and 41 g/t Ag. As at the date of this news release, a qualified person has not completed sufficient work to classify the historical estimate above as current mineral resources or mineral reserves in accordance with NI 43-101 and Blue Moon is not treating the historical estimate as current mineral resources or mineral reserves. In order to verify the historical estimates, the Company needs to engage a qualified person to review the historical data, review any work completed on the property since and complete a new technical report. Blue Moon views this historical data as an indicator of the potential size and grade of the mineralized deposits, and this data is relevant to Company’s future plans with respect to the property.

In parallel with site activities, Blue Moon is exploring the potential to sell direct shipping ore (“DSO”) from Apex. This possibility of selling DSO owes to the exceptionally high-grade nature of the primary germanium-gallium mineralization mined historically at the Project, and the very tight germanium market ex-China. The Company has received unsolicited interest from several major users and producers of germanium products. Permitting activities are also ongoing, following a small mine permitting process in Utah, targeting a Q2-2027 completion of mine permitting. Discussions on contract mining have also begun, with the view of potentially starting DSO from Apex as soon as Q3-2027. At a mining rate of 150 tpd and utilizing the historical resource grades, the in-situ germanium could supply nearly 100% of the domestic U.S. germanium demand from one U.S. supply source.

Sampling and Analytical Method

The samples reported in this news release are samples collected from exposed mineralization at Apex. These samples are selective in nature and are not necessarily representative of the average grade or size of the mineralized zone. All samples were stored and shipped using industry best practices and were delivered to Blue Coast Research Ltd. ("Blue Coast"), Parksville, British Columbia, for sample preparation and analyses using Peroxide Fusion. Blue Coast is an independent commercial, accredited laboratory.

Qualified Persons

The technical and scientific information of this news release has been reviewed and approved by Mr. Simon Cooper, P.Eng., a Blue Moon employee, and a non-Independent Qualified Person, as defined by NI 43-101.

About Blue Moon

Blue Moon is advancing 5 brownfield polymetallic projects, including the Nussir copper-gold-silver project in Norway, the NSG copper-zinc-gold-silver project in Norway, the Blue Moon zinc-gold-silver-copper project in the United States, the Springer tungsten-molybdenum project in the United States and the Apex germanium-gallium-copper project in the United States. All 5 projects are well located with existing local infrastructure including roads, power and historical infrastructure. Zinc, copper and tungsten are currently on the USGS and EU lists of metals critical to the global economy and national security, and germanium and gallium are also on the USGS list of critical metals. Major shareholders include Teck Resources Limited, funds managed by Oaktree Capital Management, Hartree Partners, LP, Wheaton Precious Metals, Altius Minerals Corporation, Baker Steel Resources Trust, LNS and Monial. More information is available on the Company’s website (www.bluemoonmetals.com).

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY DISCLAIMER – FORWARD LOOKING STATEMENTS

This news release contains forward-looking statements and forward-looking information (collectively "forward-looking information") within the meaning of applicable Canadian and United States securities laws. All statements included herein, other than statements of historical fact, may be forward-looking information and such information involves various risks and uncertainties. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions.

Without limiting the generality of the foregoing, this news release contains forward-looking information pertaining to the following: the advancement of Blue Moon’s operations across multiple jurisdictions; and other matters ancillary or incidental to the foregoing.

A number of risks, uncertainties and other factors could cause actual results and events to differ materially from those expressed or implied in the forward-looking information or could cause the Company’s current objectives, strategies and intentions to change. These risks and uncertainties include but are not limited to the ability to obtain permits on a timely basis, engaging a mining contractor on a timely basis, if the bulk sample is representative of the overall orebody, if the historical resources can be validated and if a commercial flowsheet or DSO agreement can be achieved. A comprehensive discussion of other risks that impact Blue Moon can also be found in its public reports and filings which are available at www.sedarplus.ca and on the website of the U.S. Securities and Exchange Commission at www.sec.gov.

The forward-looking information is based on certain key expectations and assumptions made by Blue Moon’s management, including but not limited to: expectations concerning prevailing commodity prices; the ability to obtain permits as required; estimates of resources; and the potential commercialization of the DSO concept.

Any forward-looking information contained in this news release represents management’s current expectations and is based on information currently available to management and is subject to change after the date of this news release. Accordingly, the Company warns investors to exercise caution when considering statements containing forward-looking information and that it would be unreasonable to rely on such statements as creating legal rights regarding the Company’s future results or plans.

The Company cannot guarantee that any forward-looking information will materialize and readers are cautioned not to place undue reliance on this forward-looking information. Except as required by applicable securities laws, the Company is under no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by law. All of the forward-looking information in this news release is qualified by the cautionary statements herein.