Blue Moon Metals : March 1, 2022Blue Moon Assay Results Confirm Discovery of New Massive Sulphide Zone, West of Current Mineral Zone

MOON:TSX-VBMOOF:OTCQB 8SX0:FRANKFURT

Blue Moon Assay Results Confirm Discovery of New Massive Sulphide Zone, West of Current

Mineral Zone

March 1, 2022 - Blue Moon Metals Inc. (TSXV: MOON; OTCQB: BMOOF) (the "Company") is

pleased to report on the results of last Fall's exploration program at its property, a polymetallic project containing zinc, silver, gold, and copper located in Mariposa County, California. Two key outcomes of the 2021 program are:

• The discovery of an additional massive sulphide zone located west of the current resource, referred to as the South Zone, which remains open to the south and up dip;
• Extension of the American Eagle Zone from surface to a depth of over 700 metres.

Patrick McGrath, Chief Executive Officer, stated, "We are excited to announce the discovery of a promising new lens. We believe that this new lens has excellent potential to significantly increase our resource base and holds great promise for more massive sulphide lenses to be found south of our newly discovered South Zone. Our priority will be to continue to delineate the South Zone discovery with additional drilling. The American Eagle hole shows above cut-offgrades in this zone not only extends to the surface, but also is traceable down plunge for over 700 metres. The South Zone and American Eagle Zone have the potential to add additional ore bodies and the Company could mine ore from multiple shafts."

South Zone (New Discovery)

The newly discovered South Zone was made testing a geophysics conductor target, located west of the three previously discovered mineral zones and south of the American Eagle workings. This new Zone was discovered deep and lateral to the previous mineral system. The Zinc Sulfide (Sphalerite) encountered in this new discovery has sphalerite of a different hue from the other zones which may indicate a separate emplacement pulse with slightly different timing. The mineralization cut in BM21-83 consists of bands and massive intervals of sphalerite along with blebs of other sulphides including pyrite, chalcopyrite and galena. Additional drilling is required to define the full extent and grade of this new massive sulphide lens. The mineralization cut in BM21-83 is similar to that found at the margins of other massive sulphide lens on the property and the Company believes BM21-83 could be at the northern edge of this new massive sulphide lens.

Assay Highlights New South Zone (Drill - hole BM21-83)

Drill-hole	From ft	To ft	Thickness	Zn%	Cu%	Pb %	Ag opt	Au opt	ZnEq%(*)
BM21-83	2408	2458	50	2.4	0.12	0.06	0.13	0.009	3.13
							(4.5gpt)	(0.31gpt)
including	2413	2423	10	3.4	0.09	.05	0.17	0.005	3.90
							(5.8 gpt)	(0.17 gpt)
including	2443	2453	10	4.3	0.34	0.01	0.13	0.009	5.46
							(4.5 gpt)	(0.31 gpt)

The above thicknesses are core lengths. The estimated true thicknesses are approximately 50% of the core length

Hole BM21-83 also intersected a gold-rich horizon to the west of the South Zone, which is possibly an extension of the American Eagle Zone.

Drill-hole	From ft	To ft	Thickness	Zn%	Cu%	Pb%	Ag opt	Au opt	ZnEq%(*)
BM21-83	1829	1839	10	1.1	0.04	0.3	0.33	0.11	5.3
							(11.3 gpt)	(3.62 gpt)
including	1834	1839	5	1.2	0.03	0.3	0.44	0.20	8.8
							(15.2 gpt)	(6.96 gpt)

Drill hole BM21-81 tested the area between the American Eagle adit and the closest hole beneath the workings. BM21-81 confirmed the mineralization is continuous from surface and the American Eagle Lens has now been shown to be traceable for over 700 metres down plunge.

Assay Highlights American Eagle Zone (Drill - hole BM21-81)

Drill-hole	From ft	To ft	Thickness	Zn%	Cu%	Pb%	Ag opt	Au opt	ZnEq%(*)
BM21-81	504	514	20	3.8	0.12	.17	.15	0.002	4.4
							(5.1 gpt)	(.07 gpt)
including	509	514	10	5.0	.08	.22	.15	0.002	5.5
							(5.1 gpt)	(.07 gpt)

The above thicknesses are core lengths, true thicknesses are approximately 60% of the core length

Drill hole BM21-82 was terminated early after the hole failed to flatten sufficiently and was re-drilled with BM21-83 that hit its target. BM21-84 was attempting to test the southern extension of the American Eagle lens but deviated too far to the north and shallowed such that it missed the planned test site. Drilling on the Blue Moon property can be challenging due to the alternating hardness of the rock and even with special bits the holes often deviate excessively and do not reach their planned targets.

Plan Map of the Current Zones

Long Section showing pierce points of BM21-81, 83 and 84

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Drill Table

Collar Locations for the drill holes are outlined below:

Drill Hole	East	North	Azimuth	Dip	Hole Depth (ft)
BM21-81	742879	4160871	238	-65	719
BM21-82	742448	4160397	084	-80	577
BM21-83	742448	4160391	238	-65	2809
BM21-84	742679	4160871	256	-56	1768

Cross sections of BM21-81 and BM21-83

Quality Assurance/Quality Control

Drilling completed on the project in 2021 was supervised on-site by Richard Walker CPG. Mr. Walker collected and tracked samples and implemented a full QA/QC program using blanks, standards and duplicates to monitor analytical accuracy and precision. Drill core was logged and sampled in a secure core processing and storage facility located at the Blue Moon site in Mariposa County, California. Core samples from the program were cut in half using a diamond bladed rock saw, sealed onsite, and were