Approval For Underground Exploration Program At Blue Moon Project

TORONTO - Blue Moon Metals Inc. announced approval by the Bureau of Land Management (BLM) for a portal and tunnel to enable underground mineral exploration activities at the Blue Moon volcanogenic massive sulphide (VMS) deposit, located in Mariposa County, California. The BLM’s approval represents a significant permitting milestone for development of the Project, as the initial portal and decline will provide access for infill and exploration drilling, allow for examination of geology, rock mechanics, and underground mining conditions, and be utilized once the mine moves into production as the main haulage route. The BLM’s approval allows for immediate commencement of the underground exploration program.

As a result of this development, management has commenced the detailed exploration decline engineering and has initiated an RFP (request for proposal) process to select a mining contractor. The decline is expected to start construction in Q3-2025 and support a feasibility study which is expected to be completed in 24 months.

CEO Christian Kargl-Simard, said, "This project was identified by Westmin in the 1980s as a high-grade VMS project with strong metallurgy, which they completed a historical prefeasibility study on and advanced permitting. The project is now advancing rapidly with the focus on domestic production of critical metals. The PEA results announced summarized top decile economics for a mining project, and at current spot prices the after-tax rate of return is over 50%. We are grateful for the support of multiple layers of government in the US to dedicate resources and expediency to advancing critical metals projects. With the strong economics of the project, we can deliver the Blue Moon Project using the highest environmental and social standards, and demonstrate to the county, where the California Gold Rush took place, what modern responsible mining looks like. With this approval, all three of Blue Moon’s critical metals projects have permits for underground exploration and development activities.”