Blue Moon Metals Closes Previously Announced Acquisition of the Springer Tungsten and Critical Metals Mine and Processing Plant Located in Nevada in Line with Recent Initiatives Under Section 232 of the Trade Expansion Act

Core Viewpoint - Blue Moon Metals Inc. has successfully completed the acquisition of the Springer tungsten and critical metals mine and processing plant in Nevada, aligning with U.S. initiatives to strengthen domestic supply chains for critical minerals [1] Group 1: Acquisition Details - The acquisition includes fee lands and mineral claims with a historically mined tungsten deposit and a flotation mill previously used for tungsten ore processing [1] - The total consideration for the acquisition was US$18.5 million, comprising an initial deposit of US$500,000 and a final cash payment of US$18 million [1] - The transaction closed upon satisfaction of customary closing conditions [1] Group 2: Strategic Importance - This acquisition is a significant milestone for Blue Moon, supporting its long-term growth strategy to establish a critical metals hub in the U.S. [1] - The company aims to accelerate confirmatory drilling to update historical resources and support a redevelopment plan for the Springer Mine [1] - The acquisition aligns with recent U.S. initiatives under Section 232 of the Trade Expansion Act, which focuses on enhancing domestic processing capacity for critical minerals [1] Group 3: Operational Updates - Blue Moon has initiated a logistics study and plans to convert part of the Springer Mine and Mill to process materials from the Blue Moon mine in California [1] - The Blue Moon mine is currently under construction, with an underground exploration decline reaching 128 meters (422 ft) from the surface as part of a US$16.5 million phase 1 development program [1] - Underground drilling has commenced, with the first drill hole of 379 meters (1244 ft) completed on February 6, 2026 [1] Group 4: Market Context - Since the announcement of the acquisition on October 14, 2025, tungsten prices have more than doubled, indicating a favorable market environment for the company's operations [1] - The Springer Mine has the potential to significantly contribute to the U.S. tungsten supply needs [1] Group 5: Investor Relations - The company has entered into an investor relations agreement with SRC Swiss Resources Capital AG for its European outreach program, which will continue for one year with automatic monthly renewals [1]