TORONTO, Sept. 14, 2026 /PRNewswire/ -- Blue Moon Metals Inc. ("Blue Moon" or the "Company") (TSXV: MOON) (NASDAQ: BMM), along with The Elmet Group Co. ("Elmet" or "TEG") (NASDAQ: ELMT), and EQ Resources Limited ("EQ") (ASX: EQR) (together the "Parties" or "Party"), are pleased to announce signing a binding letter agreement dated September 11, 2026 regarding a series of strategic transactions intended to unlock the value of Blue Moon's Springer Tungsten Complex ("Springer"), located in Imlay, Nevada.
Springer historically was one of the largest tungsten mines in the United States, and consisting of open pit and underground mines, a 1,200 Tpd mill and an Ammonium Paratungstate ("APT") plant capable of potentially producing up to 4,000 Tpa (collectively, the "Springer Project"). The facility is permitted for construction and received approval of its bonding requirements from the State of Nevada to start construction and redevelopment of the mine on August 20, 2026.
The facility is largely on fee lands, and contains a historical mineral resource from General Electric and Utah International Inc. of 10.7 MT of 0.45% WO3 based on historical data and reports prepared by the prior operators in 1984, as well as access to water, electricity, natural gas and tailings capacity and is a few miles away from the Union Pacific rail-line and the I-80 highway. The Company has not completed the work necessary to have the historical mineral resource estimate verified by a QP. The Company is not treating the estimate as a current NI 43-101 defined resource and the historical resource estimate should not be relied upon. Further drilling this year and next year will be used to update the resource estimate, which will subsequently be reported in accordance with NI 43-101 standards. On September 3, 2026, Blue Moon acquired additional water rights and land to access the Union Pacific rail-line, with the potential to install a load-on/out facility.
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