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The Nussir underground diminish continues to exit incessantly. The Corporate’s mining contractor, Leonhard Nilsen & Sønner AS (“LNS”), which started building in June has complicated a complete of 656 metres as of November twenty seventh. This stable move marks a big step towards settingup underground get entry to for day mine construction, infill drilling, and early-stage infrastructure set up.

The Corporate has tied the principle high-voltage transformer, some of the mission’s key long-lead pieces, which reduces time table possibility and helps the deliberate building order.

Early Works Building – Segment 1 has been effectively finished, settingup the preliminary building grounds and enabling next construction actions. Segment 2 is now underway and contains preparation of supplementary floor grounds required for building and the house for the principle substation and the incoming transformer.

Upgrades of the management construction, housing, and procedure plant construction are underway, making sure that very important on-site amenities move in coordination with underground construction.

Engineering Replace

The feasibility learn about is progressing on time table, with main design evaluations now finished. The Corporate remainder on the right track to post the total NI 43-101 compliant feasibility learn about leads to February. This learn about will probably be an replace of the Would possibly 2023 JORC compliant feasibility learn about at the mission and is essentially an replace on working and capital prices, capital spent to time and commodity costs.

Lengthy-lead apparatus programs had been issued to the marketplace for formal affectionate to preserve alignment with procurement timelines and assistance the whole building time table.

Moreover, the geotechnical investigation program for the method facility has now been finished, offering remarkable knowledge to assistance next engineering actions. A last funding choice remains to be on the right track for March 2026.

Nussir Exploration: Directional Drilling Program Underway

A floor directional drilling marketing campaign at Nussir began in October. This system is designed to seriously enlarge the flow mineral useful resource estimate (“MRE”), era trying out for extensions of high-grade mineralization at intensity. The Nussir geological device is the oldest sediment copper reserve on this planet. The flow MRE at Nussir is an indicated useful resource of 28.72 Mt of one.02% Cu, 0.12 g/t Au and 12.3 g/t Ag and an inferred useful resource of 32.0 Mt of one.01% Cu, 0.14 g/t Au and 14.6 g/t Ag inauguration from floor. See the technical record entitled “Report 43-101 Technical Report On The Mineral Resources Of The Nussir And Ulveryggen Projects, Norway, dated January 24, 2025 (as amended and restated on September 12, 2025) with an effective date of January 20, 2025 (the “Nussir Technical Record”), prepared by Adam Wheeler, B.Sc., M.Sc., C.Eng., Eur Ing., FIMMM.

The initial 4,000 metre directional drilling campaign is being conducted from one mother drill hole, with the deepest extending to approximately 1,250 metres depth. The goal is to infill a 650 metre gap between the current MRE and a historical high-grade intersection recorded in drillhole NUS-DD-14-001, which returned 9.7 metres at 0.93% Cu, 1.35 g/t Pd, 0.28 g/t Au, 0.61 g/t Pt and 11.5 g/t Ag.

The drilling will utilize advanced directional techniques to efficiently test the western extent of the deposit while minimizing surface disturbance and total drilled metres. Six daughter holes will be drilled from the existing mother hole (NUS-DD-14-001, 1,101 m deep), with wedge points placed between 400–700 metres. Drill spacing of approximately 200 metres is expected to support potential conversion to inferred resources under CIM guidelines.

This targeted campaign is designed to:

• Check the ban of subject matter shape the deeper intersections, which represents an exploration goal with an estimated tonnage between 8.5 Mt and 16.5 Mt, grading between 0.7% and 1.3% Cu, 9 to 17 g/t Ag, and zero.1 to 0.15 g/t Au. This doable bundle and grade territory is according to a geological fashion incorporating earlier drill effects that outlined the approximate territory, thickness, intensity and grade of the portion of the mineral useful resource estimate.  It’s conceptual in nature, and it’s unsure if additional exploration will consequence within the goal being delineated as a mineral useful resource (Category 1.7.1 of Nussir Technical Record).
• Examine increased platinum and palladium ranges at intensity and probably come with within the MRE
• Amplify mineralization from the decrease prohibit of the flow useful resource (460 m) to a intensity of over 1,000 metres
• Checking out down-dip extensions to depths of over 1,000 metres, with step-out capability to at least one,250 metres
• Amassing geotechnical and metallurgical knowledge to assistance day learn about levels, together with for platinum and palladium

NSG PROJECT UPDATE

On the NSG Copper-Zinc mission, actions proceed to ramp up. The Corporate’s mining contractor, Fauskebygg AS (“Fauskebygg”), mobilized to web site in September and has since finished the vital enhancements to the portal face and front. Fauskebygg is these days acting slashing of the primary 50 metres of the tunnel to proper irregularities within the present cross-section. This paintings is needed to safeguard apparatus can transit within the tunnel safely and successfully as construction progresses.

At the exploration entrance, the technical group is reviewing and relogging historical Rupsi drill core on the NGU Nationwide Core Archive in Løkken. In parallel, the Corporate has just lately finished evocative geological mapping throughout all mine allow grounds. This paintings has considerably complicated the geological figuring out of the district and has resulted within the identity of supplementary exploration goals for follow-up.

A ten,000 metre underground exploration program on the Rupsi reserve from underground is predicted to start out in a while. This system is taken with infill drilling and enlargement drilling on the 9.23 Mt inferred useful resource of one.19% Cu and zero.31% Zn. See the technical record entitled “Report 43-101 Technical Report On The Mineral Resources Of The Sulitjelma Project, Norway, dated February 20, 2025 (as amended and restated on September 12, 2025) with an effective date of May 20, 2025 (the “NSG Technical Record”), prepared by Adam Wheeler, B.Sc., M.Sc., C.Eng., Eur Ing., FIMMM.

There is strong potential to add gold, silver, sulfur and cobalt in the resource. Figure 2 outlines the existing 400 metre long tunnel that is in the process of being extended, and the location of the mineralization at the Rupsi deposit.

RESTRICTED SHARE UNITS (“RSU”) AWARD

The Company has also granted an aggregate of 385,415 RSUs under the Company’s share compensation plan to certain officers. Each RSU represents a right to receive one common share of the Company, following the vesting of such RSUs over a two-year period.

Qualified Persons

The technical and scientific information of this news release has been reviewed and approved by Mrs. Boi Linh Doig, P.Eng., a Blue Moon Officer, and a non-Independent Qualified Person, as defined by NI 43-101.

About Blue Moon

Blue Moon is advancing 3 brownfield polymetallic projects, including the Nussir copper-gold-silver project in Norway, the NSG copper-zinc-gold-silver project in Norway and the Blue Moon zinc-gold-silver-copper project in the United States. All 3 projects are well located with existing local infrastructure including roads, power and historical infrastructure. Zinc and copper are currently on the USGS and EU list of metals critical to the global economy and national security. Major shareholders include 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 knowledge”) within the meaning of applicable Canadian 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 “search”, “watch for”, “plan”, “proceed”, “estimate”, “be expecting”, “would possibly”, “will”, “mission”, “expect”, “doable”, “concentrated on”, “intend”, “may”, “would possibly”, “will have to”, “imagine” and similar expressions.

This news release contains forward-looking information, pertaining to, among other things, the advancement by the Company of multiple projects across jurisdictions. The Company cautions that all forward-looking information is inherently subject to change and uncertainty and that actual events, results and performance may differ materially from those expressed or implied by the forward-looking information. 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. 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.

Any forward-looking information contained in this news release represents management’s current expectations and are based on information currently available to management, and are 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. The Company is under no obligation (and expressly disclaims any intention or obligation) to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law. All of the forward-looking information in this news release is qualified by the cautionary statements herein.

SOURCE Blue Moon Metals

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