Blue Moon Metals to acquire Turner copper-gold deposit from Gold Coast Mining

Deal Structure and Consideration

Blue Moon Metals Inc. signed a definitive agreement on September 22, 2026, to acquire 100% of the Turner Copper-Gold deposit in O'Brien, Oregon, from Gold Coast Mining Inc., with closing expected in November 2026 subject to TSX-V approval and customary conditions. Total consideration is US$4.7 million in cash and 4,778,761 Blue Moon common shares, stated to be worth approximately US$27 million based on a 20-day volume-weighted average price of US$5.65 per share, with the shares to be issued in four equal tranches over 12 months after closing.

Contingent Cash Milestones

Additional cash payments are tied to specific permitting and production events. Blue Moon will pay US$2 million upon issuance of permits for underground exploration or development, another US$2 million upon receipt of mining permits, and US$3 million six months after commercial production begins. Turner is subject to an existing 1.5% net smelter return royalty and the package includes approximately 634 acres of private land and 15 unpatented claims.

Geological Profile and Historical Estimate

Turner is described as a past-producing volcanic massive sulphide deposit near the Oregon–California border, a deposit type Blue Moon says is similar to its Blue Moon Mine near Mariposa, California. The company's filing notes a 2010 historical estimate of 2.447 million tons Indicated and 2.084 million tons Inferred, but Blue Moon states the estimate has not been verified and it is not treating it as current. The company cited limited prior exploration and unquantified cobalt potential at the site.

Hub-and-Spoke Integration Plan

Blue Moon plans to integrate Turner as a spoke feeding its Springer hub in Nevada, where it is studying a new 1,800-ton-per-day mill intended to process material from both Turner and the Blue Moon Mine. Chief Executive Officer Christian Kargl-Simard said the company will "aggressively explore and develop Turner" with surface and underground drilling to support metallurgical work, targeting potential comingling of ore from the two deposits. Permitting for exploration drilling and underground development is anticipated to take 12 to 18 months, with transportation, metallurgical, and engineering studies targeted for completion by the end of 2027 to inform a preliminary economic assessment covering both assets.

Insider Compensation Disclosed in Filing

The 6-K report also disclosed compensation grants to directors and officers, including 50,000 options exercisable for five years at C$8.10 each and vesting in thirds annually, 993,146 restricted share units vesting annually over two years, and 268,586 deferred share units for independent directors vesting on the later of 12 months after grant or departure.