Blue Moon Project MRE Provides Solid Foundation For Next Stage Review

VANCOUVER - Blue Moon Metals Inc. reported on the updated Mineral Resource estimate for its Blue Moon Project located in the United States. The Mineral Resource was updated to incorporate drilling results from the last three drill programs. The Blue Moon project is a high-quality polymetallic deposit with excellent exploration and expansion opportunities.

Increase in confidence in the geological model with the upgrade of approximately 48% of the resource to the indicated Mineral Resource category. The zinc grade of the Mineral Resource estimate has increased by approximately 22% and the zinc equivalent grade has increased by approximately 35%, respectively, as compared to the prior Mineral Resource estimate issued in 2018. The increase in grades and contained metals sets the stage for a Preliminary Economic Assessment (PEA) to better understand the economic viability of the project and determine the next steps in advancing the Blue Moon project.

Patrick McGrath, Chief Executive Officer, said, “The Company is pleased to announce a material increase in the grade and confidence of the Mineral Resource, including nearly half the Mineral Resource now in the Indicated category. The updated Mineral Resource estimate provides us with a solid foundation to review the next stage of work including a PEA for the project. In addition, we continue to have significant expansion and exploration opportunities at our Blue Moon Project. The project enjoys the benefits of being located in the United States with the primary metal, zinc, being designated as a critical metal per the United States Geological Society.”