Blue Moon acquires Turner copper-gold deposit

• Blue Moon (NASDAQ:BMM) agreed to acquire 100% of the Turner copper-gold VMS deposit in Oregon from Gold Coast Mining.
• The transaction includes US$4.7 million in cash, 4,778,761 Blue Moon shares, and up to US$7 million in milestone payments.
• Blue Moon plans to evaluate Turner alongside its Blue Moon Mine through future studies involving a proposed 1,800 tonnes-per-day mill at its Springer complex.

Blue Moon (NASDAQ:BMM) signed a definitive agreement to acquire the Turner copper-gold VMS deposit in Oregon from Gold Coast Mining through a combination of cash, shares, and milestone payments.

The acquisition covers approximately 634 acres of private land and 15 unpatented claims, with the Turner deposit subject to an existing 1.5% net smelter royalty.

The transaction consideration includes US$4.7 million in cash, including a US$500,000 deposit at announcement, 4,778,761 Blue Moon shares issued in four tranches over 12 months, and up to US$7 million in milestone payments linked to permitting and production.

Turner has a historical 2010 NI 43-101 resource estimate that includes 2.447 million tonnes of indicated resources and 2.084 million tonnes of inferred resources, although Blue Moon said it does not currently treat the estimate as a current resource.

Blue Moon said it plans to integrate Turner with its Blue Moon Mine in a future preliminary economic assessment involving a potential 1,800 tonnes-per-day mill at its Springer complex.