Blue Moon Metals Acquires the Oyen Industrial Land, Operating Aggregate Quarry, Shiploading Equipment and Adjacent Properties to Nussir, and Closes a C$5.25 Million Follow on Equity Investment by Hartree Partners

TORONTO, March 10, 2025 (GLOBE NEWSWIRE) -- Blue Moon Metals Inc. (“Blue Moon” or the “Company”) (TSXV: MOON) is pleased to announce the acquisition of all the shares in Repparfjord Eiendom AS (“REAS”) from Wergeland Eigedom AS (“WG”), a private Norwegian Company, along with associated ship loading equipment and infrastructure related to aggregate mining, port area and adjacent properties to Blue Moon’s Nussir Project in Norway (the “Nussir Project”) (together the “Transaction”). Through a series of transactions, Blue Moon has paid 180 million NOK (~US$16 million) as consideration, comprised of 42.1 million common shares of Blue Moon (the “Consideration Shares”) (at C$0.30 per Consideration Share) and approximately US$7.2M in cash. WG now owns approximately 8% of the issued and outstanding common shares of Blue Moon (the “Blue Moon Shares”). REAS has a ground lease agreement with the Finnmark Estate, a legal entity established by law in Norway, for the use of the Oyen Industrial Land. Under the terms of an agreement between Blue Moon and WG dated March 6, 2025 (the “Agreement”), WG will continue to be able to sublease part of the land for aggregate production, in consideration for annual sublease payment fees. Pursuant to the Agreement, WG has also agreed to acquire agreed upon waste rock volumes from the Nussir Project for a minimum price of 15 NOK / tonne.

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