Blue Moon Metals Inc. (TSX-V: MOON) (OTCQX: BMOOF), is pleased to announce that it has closed its previously announced “bought deal” public offering of common shares of the Company. Scotia Capital Inc. and Canaccord Genuity Corp., acted as joint bookrunners on behalf of a syndicate of underwriters, including Cormark Securities Inc., acting as co-lead manager, Haywood Securities Inc. and Fearnley Securities AS, in connection with the offering, pursuant to which the Company issued an aggregate 26,220,000 Common Shares at an issue price of C$3.30 per Common Share for aggregate gross proceeds of $86,526,000 (including the exercise in full of the Underwriters’ over-allotment option). In consideration for their services, the Underwriters received an aggregate cash commission of C$5,191,560.

The Offering was completed pursuant to a prospectus supplement dated September 26, 2025 to the Company’s short form base shelf prospectus dated September 23, 2025, in each of the provinces and territories of Canada, other than Québec, and in those other jurisdictions outside Canada pursuant to exemptions from prospectus and registration requirements.

The net proceeds from the Offering are expected to be used to develop the Blue Moon project in California, confirm the ideal processing solution for the mineralized material from the Blue Moon project, additional exploration at the Blue Moon, Nussir and NSG projects, working capital, and general and administration and corporate activities, as further described in the Prospectus Supplement. The Offering remains subject to the final approval of the TSX Venture Exchange.

The Common Shares have not been and will not be registered under the U.S. Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements under the U.S. Securities Act and applicable states securities laws. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

Access to the Prospectus Supplement, the corresponding Base Shelf Prospectus and any amendment to the documents is provided in accordance with securities legislation relating to procedures for providing access to a prospectus supplement, a base shelf prospectus and any amendment thereto. The Prospectus Supplement and the corresponding Base Shelf Prospectus are available on SEDAR+ at www.sedarplus.ca, and amendments thereto, if any, will be within two business days.

No new insiders, or control persons, were created as a result of the Offering.

An electronic or paper copy of the Prospectus Supplement, the corresponding Base Shelf Prospectus and any amendment to the documents may be obtained, without charge, from Scotia Capital Inc. at 40 Temperance Street, 6^th Floor, Toronto Ontario, M5H 0B4, Attention: Equity Capital Markets, or by phone at (416) 863-7704 or by email at equityprospectus@scotiabank.com, or from Canacccord Genuity Corp. by email at ecm@cgf.com, by providing the contact with an email address or address, as applicable.

Insider Participation

Certain insiders of the Company have subscribed for 2,105,000 Common Shares under the Offering for aggregate gross proceeds of $6,946,500. Each subscription by an “insider” is considered to be a “related party transaction” for the purposes of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions. The Company did not file a material change report more than 21 days before the expected closing date of the Offering as the details of the Offering and the participation therein by each “related party” of the Company were not settled until shortly prior to the closing of the Offering, and the Company wished to close the Offering on an expedited basis for sound business reasons. The Company is relying on exemptions from the formal valuation and minority shareholder approval requirements available under MI 61-101. The Company is exempt from the formal valuation requirement in section 5.4 of MI 61-101 in reliance on section 5.5(a) of MI 61-101 as the fair market value of the transaction, insofar as it involves interested parties, is not more than 25% of the Company’s market capitalization. Additionally, the Company is exempt from minority shareholder approval requirement in section 5.6 of MI 61-101 in reliance on section 5.7(1)(a) of MI 61-101 as the fair market value of the transaction, insofar as it involves interested parties, is not more than 25% of the Company’s market capitalization.

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. More information is available on the Company’s website (www.bluemoonmetals.com).