Blue Moon Announces Sale of Blue Moon Norway to ACG Metals Limited

Christian Kargl-Simard, Chief Executive Officer of Blue Moon Metals

“The sale of Blue Moon Norway for equity consideration in ACG maintains our exposure to our assets while simultaneously streamlining our portfolio and eliminating the need to add debt or precious metal streams to our balance sheet. ACG's unsolicited approach has offered a compelling transaction which immediately recognizes value for our Norwegian assets, provides exposure to strong free cashflow from ACG's mines, while providing Blue Moon shareholders with the opportunity to participate in future ACG growth. We are pleased to maintain equity exposure for our shareholders to Blue Moon Norway and have full confidence in ACG's ability to complete the construction of the Nussir mine, with the goal of becoming a mid-tier diversified mining company. Meanwhile the Company's strong unlevered balance sheet will fund its four U.S. critical metals mines towards production, with shareholders having exposure to nine different commodities.”

Artem Volynets, Chairman and Chief Executive Officer of ACG Metals

“ACG is very pleased to build upon Blue Moon's progress and excited to take the Nussir mine into its next phase - production. We look forward to working together with Nussir's team and communities to fulfill our goals and commitments. We also especially welcome Blue Moon shareholders to our register and to the fast-growing copper company with a vision to consolidate the sector.”