Blue Moon Metals Inc. (TSX-V: MOON) (NASDAQ: BMM) is pleased to announce that it has closed its previously announced “bought deal” public offering and concurrent “bought deal” private placement of common shares of the Company. Scotiabank, ATB Cormark Capital Markets and Canaccord Genuity Corp. acted as joint bookrunners on behalf of a syndicate of underwriters, including Haywood Securities Inc., Titan Partners Group LLC, a division of American Capital Partners, LLC, Maxim Group LLC and Red Cloud Securities Inc. in connection with the Offerings, pursuant to which the Company issued an aggregate of (i) 10,625,000 common shares of the Company at an issue price of C$10.00 per Prospectus Share for aggregate gross proceeds of C$106,250,000 (including the partial exercise of the Underwriters’ over-allotment option of an additional 625,000 Prospectus Shares) in connection with the Public Offering, and (ii) 5,000,000 common shares of the Company at an issue price of C$10.00 per Private Placement Share for aggregate gross proceeds of C$50,000,000 in connection with the Concurrent Private Placement. In consideration for their services, the Underwriters received an aggregate cash commission in connection with the Offerings of C$7,756,250.

The Public Offering was completed under a prospectus supplement dated April 29, 2026 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 the United States pursuant to a U.S. prospectus supplement to the Base Shelf Prospectus forming part of the Company’s U.S. registration statement on Form F-10.

The Concurrent Private Placement was completed (i) in each of the provinces and territories of Canada pursuant to available exemptions to the prospectus requirement under applicable Canadian securities laws, (ii) in the United States on a private placement basis pursuant to one or more exemptions from the registration requirements of the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act“), and (iii) in such other jurisdictions outside of Canada and the United States, in each case in accordance with all applicable laws, provided that no prospectus, registration statement or similar document is required to be filed in such jurisdiction. Private Placement Shares sold pursuant to the Concurrent Private Placement are subject to a statutory four month hold period in Canada under applicable Canadian securities legislation. Private Placement Shares sold pursuant to the Concurrent Private Placement in the U.S. are restricted securities under applicable U.S. securities laws.

The net proceeds from the Offerings are expected to be used for construction capital at the Nussir and Blue Moon projects, development capital for the Springer Tungsten and Apex projects, additional exploration at the foregoing projects, working capital, U.S. growth activities and general and administrative and corporate activities, as further described in the Prospectus Supplement and the U.S. Prospectus Supplement.

The Offerings remain subject to the final approval of the TSX Venture Exchange. No new insiders, or control persons of the Company were created as a result of the Offerings.

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. Copies of the Prospectus Supplement and the corresponding Base Shelf Prospectus are available on SEDAR+ at www.sedarplus.ca under the Company’s issuer profile. Copies of the Registration Statement (including the U.S. Prospectus Supplement and Base Shelf Prospectus) are available on EDGAR at www.sec.gov under the Company’s issuer profile.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any security, nor shall there be any sales of securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

An electronic or paper copy of the Prospectus Supplement, U.S. Prospectus Supplement, Registration Statement, the corresponding Base Shelf Prospectus and any amendment to the documents may be obtained, without charge (i) in Canada, 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, and (ii) in the United States, from Scotia Capital (USA) Inc. by mail at 250 Vesey Street, 24th Floor, New York, NY 10281, Attention: Equity Capital Markets, or by telephone at (212) 255-6854, or by email at us.ecm@scotiabank.com, by providing the contact with an email address or address, as applicable.

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 gallium, germanium, copper, and silver project in United States. All 5 projects are well located with existing local infrastructure including roads, power and historical infrastructure. Zinc, copper, tungsten, gallium and germanium 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.