Blue Moon Clarifies State of Nussir Project

Blue Moon Metals Inc. (" Blue Moon " or the " Company ") (TSXV: MOON) (NASDAQ: BMM ) today responds to and categorically refutes a series of inaccurate statements and misinformation published about the Company by Viceroy Research Group (" Viceroy ") in a self-serving short seller report. The Company believes this report (the " Viceroy Report ") amounts to nothing more than a typical "short-and-distort" campaign, and cautions investors that this report contains numerous false, unfounded and meritless statements about the Company. Short seller arguments have been derived from speculation rather than facts and formed without any effort to interact with the Company to gain a fulsome understanding of its business plan and prospects. The authors disregard the far more considered opinions of not only Company management, but also the informed views of various leading investment banks, each of which have, unlike the authors, conducted their own extensive due diligence including site visits alongside dozens of institutional investors, including some of the largest shareholders in the Company.

Blue Moon believes the sole purpose of Viceroy's campaign is to profit from a decline in the price of Blue Moon common shares at the expense of its long-term shareholders. Viceroy itself has disclosed that it may benefit from a decline in the price of the Company's securities. Shareholders should consider Viceroy's direct financial interest in a decline in the price of the Company's securities when assessing the credibility, objectivity and reliability of the Viceroy Report. The Company reiterates that its disclosure record remains complete and current, including properly identifying risks to an investment in the Company, and such disclosure will be promptly updated as developments occur in the future.

Nussir's Permits and Construction – All Permits in Good Standing and Construction on Track The Viceroy Report claims that that the June 17, 2026, decision of the Supreme Court of Norway (the " Engebø Judgment "), which concerned the environmental permit of an unrelated mining project approximately 1,300 km away, may have implications for the Company's brownfield Nussir copper-silver-gold project (" Nussir " or the " Project "). All permits at Nussir are in good standing. The Company is fully aware of developments in Norway and remains in regular contact with the relevant permitting authorities and ministries, including the Norwegian Environment Agency.

"This project has all the necessary permits. Nussir is an important project, not least because it involves the extraction of copper—a critical and strategic raw material. The fact that the EU Commission has also designated Nussir as a strategic project for Europe demonstrates the project's importance," says Minister of Trade and Industry Cecilie Myrseth. "This government places a high priority on the minerals industry, and we want to realize more high-quality mineral projects that create jobs and generate value," Myrseth emphasizes. The assertion that the Project's tailings disposal permit "will be revoked" as a result of the Engebø Judgment is blatantly unfounded and inaccurate. The Engebø Judgment does not (i) involve or apply to Nussir ASA, the subsidiary of Blue Moon which holds the extraction licences and exploration licences associated with the Project, or (ii) stand for a blanket prohibition on the sea disposal of tailings as posited in the Viceroy Report. The Supreme Court of Norway narrowly found only that the justification underlying the 2016 Engebø permit issued to that project's owner, Nordic Mining ASA (" Nordic Mining "), did not satisfy the requirements of the EU Water Framework Directive and required the Government of Norway to reassess that permit; that reassessment is now underway. Nordic Mining continues to operate the Engebø project during this period of reassessment. As par...