Blue Moon Metals Inc. (NASDAQ: BMM) and Alpha Future Funds S.C.S. signed a non-binding letter of intent on April 2 to combine their wholly-owned subsidiaries that hold permits in Norway's Sulitjelma mining district.

The agreement involves merging Nye Sulitjelma Gruver AS and VMS Explorations AS into a single entity. Both subsidiaries hold extraction and exploration permits over the historic Sulitjelma mining district in Norway's Fauske municipality.

The Sulitjelma mine produced more than 470,000 tonnes of copper and 120,000 ounces of gold during its 100-year operating life until 1991. The site maintains existing surface and underground infrastructure and connection to hydropower. A 2025 exploration campaign by VMS made two new copper-gold discoveries and identified 18 additional drill targets.

The companies said the combination would enable integrated development focusing on high-grade zones with centralized processing. The letter of intent allows up to four months for due diligence and negotiation of a definitive agreement.

Blue Moon Metals operates five brownfield polymetallic projects including the Nussir copper-gold-silver project in Norway and projects in the United States. Alpha Future Funds is a Luxembourg-based investment fund focusing on critical raw materials and mining technologies across Norway, Sweden and Finland.

The technical information was reviewed by Shawn Crispin of Orefinder Mining Consultants LLC FZ, identified as a qualified person under NI 43-101 standards.