Blue Moon Announces Further Results from Assays at Springer, Including a New Intercept of 0.3 m of 7.84% WO₃

Previously unsampled mineralization will receive follow-up drilling this year, while deeper NM-30 assays remain pending.

Rhea-AI Summary

Blue Moon Metals (BMM) reported additional tungsten assay results from historical drill core at its Springer mine in Imlay, Nevada. Drillhole NM-30 returned 7.82% WO₃ over 0.3 metres from 183.5 metres, using the table's grade rather than the conflicting headline figure. WO₃ measures tungsten trioxide content. The interval was not sampled historically and is not included in mineralized-lens modelling. Blue Moon plans follow-up drilling this year; assays for NM-30's deeper section remain pending.

Approximately 77% of the 18,000 metres of historical core has been relogged. NM-45 confirmed 0.26% WO₃ across a 9.44-metre true width and identified a previously unsampled interval grading 0.18% WO₃ over 3.8 metres. Blue Moon also granted 150,000 consultant stock options with a C$6.99 exercise price, a five-year exercise period and vesting over three years.

Positive

• Minor pointNM-30 returned 7.82% WO₃ over 0.3 metres from 183.5 metres in previously unsampled core.
• Minor pointNM-45 confirmed 0.26% WO₃ across 9.44 metres true width, starting at 342.4 metres downhole.
• Minor pointNM-45's confirmed interval includes 1.08% WO₃ over 2.25 metres, with 1.74 metres true width.
• Minor pointNM-45 identified previously unsampled mineralization grading 0.18% WO₃ over 3.8 metres from 372.1 metres.
• Minor pointHistorical-core relogging is approximately 77% complete across the 18,000-metre campaign.
• Minor point. Forward-looking: it has not happened yet and may not happen.NM-30 follow-up drilling is planned this year for the newly identified interval.

Negative

• Minor point. Forward-looking: it has not happened yet and may not happen.Consultant grants of 150,000 stock options at C$6.99 create potential dilution if exercised.
• Minor pointNM-30's new interval is not included in mineralized-lens modelling, with limited vein information.
• Minor pointNM-30 assays from 230.7 to 345.3 metres remain pending.

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Details

Market move: BMM +3.80% vs previous close. Springer assay results

$4.78 – $5.10 Day Range

$531.74M Market Cap

On Oct 6, the day this news came out, the latest delayed price for BMM is 3.80% above the previous close. The latest delayed price is $5.07.

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Key Figures

NM-30 assay grade (headline): 7.84% WO₃ over 0.3 m NM-30 assay grade (detailed result): 7.82% WO₃ over 0.3 m NM-45 re-assay interval: 0.26% WO₃ over 9.44 m +2 more

NM-30 assay grade (headline)

7.84% WO₃ over 0.3 m

Springer tungsten mine; headline and announcement lead

NM-30 assay grade (detailed result)

7.82% WO₃ over 0.3 m

NM-30 at 183.5 m; detailed text and assay table

NM-45 re-assay interval

0.26% WO₃ over 9.44 m

Reported at a downhole depth of 342.4 m

New NM-45 mineralized interval

0.18% WO₃ over 3.8 m

Previously unsampled interval at a depth of 372.1 m

Historical core relogged

Approximately 77% of 18,000 m

Progress to date in the relogging campaign

Historical Context

1 past event · Latest: Sep 22

1 event

1. Sep 22

   assay results

   24h Move

   +8.7%

   Initial Springer historical-core assays reported tungsten intervals and 11,670 m relogged.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

skarn, down-dip, xrf analysis, fire assay, +1 more

5 terms

skarn technical

"It is hosted in a 1-foot-wide skarn lens in the Sutton 1 zone."

A skarn is a type of rock that forms when hot magma interacts with surrounding rocks, causing chemical changes and the creation of mineral-rich deposits. For investors, skarns can indicate areas where valuable metals or minerals might be concentrated, making them important in the search for natural resources and potential mining opportunities. Recognizing skarns helps in assessing the potential value of land or mineral rights.

down-dip technical

"The re-assay also identified a new mineralized interval further down-dip"

A down-dip is a short-lived or temporary decline in the price of a security within a broader trading period or uptrend. It describes a pullback caused by selling pressure, profit-taking, or short-term changes in demand; the size and duration are not fixed and depend on market context. The term is informal rather than a regulatory or accounting measure, so its exact meaning varies by speaker and situation.

xrf analysis technical

"include XRF analysis for WO₃, a 48-element multi-element suite"

XRF analysis is a laboratory technique that identifies the elemental makeup of a sample by shining X‑rays on it and measuring the characteristic secondary rays each element emits — like using a fingerprint scanner to tell which metals or elements are present. Investors care because XRF gives quick, non‑destructive confirmation of raw material quality, mineral grades, product composition or contamination, which can affect production costs, regulatory compliance and the value of assets.

fire assay technical

"selective fire assay for gold."

Fire assay is a laboratory process used to accurately measure the amount of precious metals, like gold or silver, in a sample of ore or material. It involves heating the sample intensely to separate the metals from other substances, much like melting and purifying metal to determine its purity. This method is important to investors because it provides precise data on the metal content, helping to assess the value of mining operations or mineral deposits.

ni 43-101 regulatory

"as defined by NI 43-101."

A Canadian regulatory standard that sets the rules for how mining and exploration companies must report mineral resources and reserves, requiring technical reports prepared or signed off by an independent, certified expert. It matters to investors because it creates a consistent, transparent “inspection report” for mining projects, making it easier to compare prospects, judge the reliability of claims, and assess geological and financial risk before investing.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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TORONTO, Oct. 6, 2026 /PRNewswire/ -- Blue Moon Metals Inc. ("Blue Moon" or the "Company") (TSXV: MOON) (NASDAQ: BMM) is pleased to announce additional assay results from its ongoing 18,000 m relogging campaign, including the second highest grade drilling result to date at the Company's Springer Tungsten Mine in Imlay, Nevada ("Springer"), assaying 7.84% WO₃ over 0.3 m.

Historical Core Re-Assay Program

The Company is continuing its thorough re-examination and re-assay campaign of previously drilled core located on the property. To date, approximately 77% of the 18,000 meters of historical core have been relogged. As part of the re-assay program: drillhole NM-30 returned a 0.3-metre sample grading 7.82% WO₃ from 183.5 m, representing the second-highest assay in drill core on the property and the highest-grade assay identified to date in the East Sutton Beds. It is hosted in a 1-foot-wide skarn lens in the Sutton 1 zone. The high-grade interval was not sampled historically when it was drilled in May of 1977 but was relogged by the current team and sent for assay in August 2026. This current intercept is not included in Skarn lens modelling and will be followed up by new drilling this year. The deeper portion of NM-30 (230.7 m to 345.3 m) is currently pending assay results as seen in the section below. The historical assay data shown on the lower part of NM-30 correlates to the recent results of neighboring NM-44 (refer to Blue Moon's press release from September 22, 2026). Full tables of new assays can be found at the end of this press release.

In addition, re-assays from drillhole NM-45 confirmed a 9.44-metre interval grading 0.26% WO₃ at a downhole depth of 342.4 metres. The re-assay also identified a new mineralized interval further down-dip that was not historically sampled, returning 0.18% WO₃ over 3.8 metres at a depth of 372.1 metres. See tables below.

Sampling and QA/QC

The Springer Mine hosts historical drill core from multiple previous owners of the property, in core diameters of BQ, NQ, and HQ sizes. The current sampling program includes quartering of previously assayed material and a large volume of previously untested, but mineralized rock.

Samples are being analyzed by ALS Geochemistry using analytical packages that include XRF analysis for WO₃, a 48-element multi-element suite, and selective fire assay for gold. ALS Global is a premier accredited, independent testing, inspection, and certification body. ALS Minerals (Geochemistry) laboratories maintain global accreditations, primarily centered around the ISO/IEC 17025:2017 standard. Comprehensive QA/QC protocols have been implemented in accordance with CIM Best Practice Guidelines, with QA/QC samples representing approximately 12.5% of all assays, or a 1:8 ratio. These protocols support a robust dataset for future exploration targeting and resource evaluation.

Options Grant

The Company has granted a total of 150,000 incentive stock options under the Company's share compensation plan to two consultants to the Company. The stock options have an exercise price of C$6.99 per stock option and are exercisable for a period of five years from the date of grant. The stock options vest over three years with a third vesting every year and are governed by the terms and conditions of the Company's stock option plan.

Qualified Persons

The technical and scientific information of this news release has been reviewed and approved by Mr. Lazaros Dalampiras, MAusIMM, CP(Geo), Blue Moon's Head of Mineral Resources, and a non-Independent Qualified Person, as defined by NI 43-101.

About Blue Moon

Blue Moon is advancing 6 brownfield polymetallic projects, including the Nussir copper-gold-silver project in Norway, the NSG copper-zinc-gold-silver project in Norway, the Blue Moon zinc-gold-silver-copper project in the United States, the Springer tungsten-molybdenum project in the United States, the Apex germanium-gallium-copper project in the United States and the Turner gold-copper-zinc-silver project in the United States. All 6 projects are well located with existing local infrastructure including roads, power and historical infrastructure. Zinc, copper and tungsten are currently on the USGS and EU list of metals critical to the global economy and national security and germanium and gallium are also on the USGS list of critical metals. Major shareholders include Teck Resources Limited, funds managed by Oaktree Capital Management, Hartree Partners LP, Wheaton Precious Metals, Altius Minerals Corporation, Baker Steel Resources Trust, LNS and Monial. More information is available on the Company's website (www.bluemoonmetals.com).

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY DISCLAIMER - FORWARD LOOKING STATEMENTS

This news release contains forward-looking statements and forward-looking information (collectively "forward-looking information") within the meaning of applicable Canadian and United States securities laws. All statements included herein, other than statements of historical fact, may be forward-looking information and such information involves various risks and uncertainties. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate", "plan", "continue", "estimate", "expect", "may", "will", "project", "predict", "potential", "targeting", "intend", "could", "might", "should", "believe" and similar expressions.

A number of risks, uncertainties and other factors could cause actual results and events to differ materially from those expressed or implied in the forward-looking information or could cause the Company's current objectives, strategies and intentions to change. A comprehensive discussion of other risks that impact Blue Moon can also be found in its public reports and filings which are available at www.sedarplus.ca and on the website of the U.S. Securities and Exchange Commission at www.sec.gov.

Any forward-looking information contained in this news release represents management's current expectations and is based on information currently available to management and is subject to change after the date of this news release. Accordingly, the Company warns investors to exercise caution when considering statements containing forward-looking information and that it would be unreasonable to rely on such statements as creating legal rights regarding the Company's future results or plans.

The Company cannot guarantee that any forward-looking information will materialize, and readers are cautioned not to place undue reliance on this forward-looking information. Except as required by applicable securities laws, the Company is under no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by law. All of the forward-looking information in this news release is qualified by the cautionary statements herein.

Drill Results Tables

Significant Intervals – Sutton 1
HOLE ID	From (m)	To (m)	True Width (m)	Length (m)	WO3 %	Mo %
NM-30	183.5	183.8	New vein - Limited information	0.3	7.82	0.01
NM-32	27.9	29.65	Limited vein information	1.75	0.08	0.02
	132.3	133.4		1.1	0.13	0.09
	154.1	154.65		0.55	0.19	0.05
	212.05	213.4		1.35	0.06	0.00
	235.9	236.5		0.6	0.14	0.00
NM-45	193.5	193.9	Limited vein information	0.4	0.16	0.00
	201.7	202		0.3	0.16	0.05
	247	248.95		1.95	0.17	0.00
	312.85	313.3		0.45	0.27	0.00
	342.4	353.9	9.44	12.15	0.26	0.02
Incl.	346.5	348.75	1.74	2.25	1.08	0.02
	372.1	375.9	New vein - Limited information	3.8	0.18	0.02
Incl.	375.55	375.9		0.35	0.98	0.01
Notes:
1. Cut-off grade used is 0.03% WO3.

Table 1: Significant Intervals – Surface Historical Holes at Sutton 1

Significant Intervals – Sutton 2
HOLE ID	From (m)	To (m)	True Width (m)	Length (m)	WO3 %	Mo %
SU-42	6.59	10	Limited vein information	3.41	0.07	0.00
	18.15	18.38		0.23	0.43	0.00
	38.08	38.62		0.54	0.23	0.00
SU-46	12.8	14.14	1.34	1.34	0.06	0.01
Notes:
1. Cut-off grade used is 0.03% WO3.

Table 2: Significant Intervals – Surface Historical Holes at Sutton 2

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SOURCE Blue Moon Metals

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What tungsten grade did Blue Moon Metals report for the new NM-30 interval at Springer?

The assay table reports 7.82% WO₃ over 0.3 metres, from 183.5 to 183.8 metres in NM-30. This differs from the 7.84% figure in the headline and opening paragraph. The interval was not sampled when the hole was drilled in May 1977.

What did Blue Moon Metals find in drillhole NM-45 at Springer?

NM-45 confirmed 0.26% WO₃ across a 9.44-metre true width from 342.4 metres downhole and identified a previously unsampled interval grading 0.18% WO₃ over 3.8 metres from 372.1 metres. The confirmed interval includes 1.08% WO₃ over 2.25 metres, with a true width of 1.74 metres.

How do Blue Moon Metals' newly granted consultant stock options vest?

The options vest over three years, with one-third vesting each year. The 150,000 options were granted to two consultants under the company's share compensation plan and are governed by its stock option plan.