Blue Moon Closes the Purchase of the Apex Germanium and Gallium Mine from Teck
Blue Moon Metals Inc. (TSX-V: MOON) (NASDAQ: BMM) is pleased to announce that we have closed the acquisition of the Apex Mine from Teck American Incorporated, a subsidiary of Teck Resources Limited. The Transaction was previously announced on February 27, 2026. Teck has been issued 7,031,959 common shares of Blue Moon representing 8.0% of Blue Moon’s issued and outstanding common shares on an undiluted basis. Blue Moon has received TSX-V approval for the Transaction.
In connection with the closing of the Transaction, Blue Moon wishes to highlight the following:
The Transaction is at arms’ length between Teck and the Company and no finders fees are being paid on the Transaction.
The Apex mine consists of 24 patented claims (rather than 26 indicated in the February 27, 2026 press release), and 9 unpatented claims.
As part of the Transaction, Blue Moon is granting a 0.5% net smelter returns royalty in favour of Teck on the Property.
As part of the Transaction, Blue Moon has entered into an investor rights agreement in favour of Teck, which includes, among other things, equity participation rights, top-up rights and information rights.
As part of the Transaction, Blue Moon is assuming a 3.0% NSR royalty obligation on the Apex Mine claims.
For the zinc off-take Teck is receiving for the life of mine from the Blue Moon Mine, zinc payabilities and treatment charges are consistent with prevailing industry benchmarks.
The marketing agreement as disclosed in the February 27, 2026 press release has been replaced by an offtake agreement on the Apex Mine claims, Teck to pay the Company the market value of the products minus a fixed percentage, such market value to be assessed annually.
Qualified Persons
The technical and scientific information of this news release has been reviewed and approved by Mrs. Boi Linh Doig, P.Eng., a Blue Moon Officer, and a non-Independent Qualified Person, as defined by NI 43-101.
About Blue Moon
Blue Moon is advancing 5 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 and the Apex germanium-gallium-copper in the United States. All 5 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 funds managed by Oaktree Capital Management, Hartree Partners LP, Teck Resources Limited, Wheaton Precious Metals, Altius Minerals Corporation, Baker Steel Resources Trust, LNS and Monial.
