Blue Moon Metals : Q3 2021 Unaudited Financials

Blue Moon Metals Inc.

(formerly Blue Moon Zinc Corp.)

Condensed Interim Consolidated Financial Statements

For the three and nine months ended September 30, 2021

(Unaudited - prepared by management) (Expressed in Canadian dollars)

NOTICE TO READER:

These condensed interim consolidated financial statements have not been reviewed by the Company's external auditors. These statements have been prepared by and are the responsibility of the Company's management. This notice is being provided in accordance with National Instrument 52-102 - Continuous Disclosure Obligations.

Blue Moon Metals Inc. (formerly Blue Moon Zinc Corp.)

Condensed Interim Consolidated Financial Statements (Unaudited - prepared by management)

(Expressed in Canadian dollars)

CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

			September 30, 2021	December 31, 2020
ASSETS			$		$
Note	1,210,265		267,015
Cash
Receivables	10b		14,009		4,175
Prepaid expenses			12,042		5,000
Restricted cash	10b		13,864		13,864
CURRENT ASSETS		1,250,180		290,054
Mineral property interests	3		698,007		698,007
ASSETS		1,948,187		998,061
LIABILITIES			132,382		98,507
Accounts payable and accrued liabilities
Due to related parties	7		345,713		460,629
LIABILITIES		478,095		559,136
SHAREHOLDERS' EQUITY			11,362,875		10,279,967
Share capital	4
Contributed surplus			1,949,627		1,157,245
Deficit			(11,842,410)		(11,008,287)
SHAREHOLDERS' EQUITY		1,470,092		428,925
LIABILITIES AND SHAREHOLDERS' EQUITY		1,948,187		988,061
Nature of operations and going concern	1

Approved by the Board of Directors
Douglas Urch (signed) Director	Patrick McGrath (signed)	Director
The accompanying notes are an integral part of these consolidated financial statements	- 2 -

Blue Moon Metals Inc. (formerly Blue Moon Zinc Corp.)

Condensed Interim Consolidated Financial Statements (Unaudited - prepared by management)

(Expressed in Canadian dollars)

CONSOLIDATED STATEMENTS OF LOSS AND COMPREHENSIVE LOSS

		Three Months Ended		Nine Months Ended
		September 30,		September 30,
	2021		2020	2021		2020
		$		$		$		$
General exploration expenses		348,997		-		393,353		7,772
Filing and regulatory		2,657		863		51,880		12,189
General administrative costs		2,688		719		6,960		2,967
Professional fees		-		4,231		11,277		3,559
Share-based payments		23,275		-		96,382		-
Shareholder communication and travel		34,519		560		194,333		2,485
Consulting fees		20,000		18,000		56,000		54,000
Foreign exchange (gain) loss		1,516		-		1,051		119
Interest expense		7,713		7,713		22,887		22,971
LOSS AND COMPREHENSIVE LOSS	441,365		32,086	834,123		106,012
Basic and diluted loss per share		0.00		0.00		0.01		0.00
Weighted average number of common		148,080,995		109,350,707		134,800,995		109,350,707
shares outstanding

The accompanying notes are an integral part of these consolidated financial statements	- 3 -

Blue Moon Metals Inc. (formerly Blue Moon Zinc Corp.)

Condensed Interim Consolidated Financial Statements (Unaudited - prepared by management)

(Expressed in Canadian dollars)

CONSOLIDATED STATEMENTS OF CASH FLOWS

For the nine months ended September 30,			2021		2020
Cash flows provided by (used in)	Note		$		$
OPERATING ACTIVITIES					(106,012)
Loss and comprehensive loss			(834,123)
Items not affecting cash			96,382		-
Share-based payments
Interest expense			7,713		22,971
			104,095		22,971
Change in non-cash working capital items			(105,630)		27,793
OPERATING ACTIVITIES			(835,658)		(55,248)

FINANCING ACTIVITIES
Issuance of securities	4b
Issuance costs	4b
Subscriptions received in advance

1,906,346-

(127,438)-

• 70,019

FINANCING ACTIVITIES			1,778,908		70,019
INVESTING ACTIVITIES			-		(29,055)
Buyback Net Smelter Royalty	3
INVESTING ACTIVITIES			-		(29,055)
CHANGE IN CASH			943,250		(14,284)
Cash - Beginning			267,015		95,927
CASH - ENDING			1,210,265		81,643

The accompanying notes are an integral part of these consolidated financial statements	- 4 -

Blue Moon Metals Inc. (formerly Blue Moon Zinc Corp.)

Condensed Interim Consolidated Financial Statements (Unaudited - prepared by management)

(Expressed in Canadian dollars)

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY

	Note	Number of	Share	Subscriptions	Contributed	Deficit	Shareholders'
		Shares	Capital	received in	Surplus		Equity
			$	advance	$	$	$
DECEMBER 31, 2019		109,350,707	9,945,688	-	1,075,014	(10,744,950)	275,752
Subscriptions received in advance		-	-	70,019	-	-	70,019
Loss and comprehensive loss		-	-	-	-	(106,012)	(106,012)
SEPTEMBER 30, 2020		109,350,707	9,945,688	70,019	1,075,014	(10,850,962)	235,759
Private placement	4b	8,589,557	257,686	(70,019)	42,948	-	230,615
Private placement issuance costs	4b	-	(3,311)	-	-	-	(3,311)
Shares issued in debt settlement	4c	1,613,714	80,686	-	-	-	80,686
Debt settlement costs	4c	-	(782)	-	-	-	(782)
Share-based payments	6	-	-	-	39,283	-	39,283
Loss and comprehensive loss		-	-	-	-	(157,325)	(157,325)
DECEMBER 31, 2020		119,553,978	10,279,967	-	1,157,245	(11,008,287)	428,925
Private placement	4b	28,527,017	1,210,346	-	696,000	-	1,906,346
Private placement issuance costs	4b	-	(127,438)	-	-	-	(127,438)
Share-based payments	6	-	-	-	96,382	-	96,382
Loss and comprehensive loss		-	-	-	-	(834,123)	(834,123)
SEPTEMBER 30, 2021		148,080,995	11,362,875	-	1,949,627	(11,842,410)	1,470,092

The accompanying notes are an integral part of these consolidated financial statements	- 5 -