VANCOUVER, British Columbia, Oct. 02, 2024 (GLOBE NEWSWIRE) -- Blue Moon Metals Inc. (TSXV: MOON; OTCQB: BMOOF) (the 'Company”) is pleased to announce that it has agreed to sell its Yava project located in Nunavut to Honey Badger Silver Inc. (TSXV: TUF). Pursuant to the definitive agreement and subject to customary closing conditions, the Company will receive 4,250,000 common shares of Honey Badger with an implied value of approximately $340,000 (being $0.08 per share reflecting a five-day moving average) (the 'Transaction”). This consideration will represent approximately 6.5% of the total issued and outstanding shares of Honey Badger. Honey Badger is a silver focused entity with a significant and growing portfolio of high-quality silver projects. The consideration will be subject to the customary four-month hold period and the Company has agreed to a twelve-month lock-up period.

Patrick McGrath, the CEO of the ‎Company, stated 'The Yava project offers an exciting silver exploration opportunity and Blue Moon will continue to participate in its future through its material ownership in Honey Badger. The Yava project is considered non-core for the Company, so we are happy to monetize the asset and continue to focus on developing our Blue Moon deposit in the United States. We are currently evaluating the next steps for Blue Moon including the commencing of a Preliminary Economic Assessment.”