Blue Moon Metals and Alpha Future Funds to combine holdings in Norway mine

Blue Moon Metals (BMM) and Alpha Future Funds have entered into a non-binding letter of intent on April 2 to combine their wholly-owned subsidiaries, Nye Sulitjelma Gruver – NSG – and VMS Explorations – VMS – into a single entity. AFF is a private fund based in Luxembourg investing in innovative technologies and mining projects. NSG and VMS hold extraction and exploration permits over the historic Sulitjelma mining district in the Fauske municipality of Norway. The Sulitjelma mine produced over 470 kt copper and 120 koz gold over a 100 year life until 1991 and benefits from existing surface and underground infrastructure ready to be refurbished. A 2025 exploration campaign undertaken by VMS also made two new copper-gold discoveries and identified a further 18 drill targets based on a district scale AEM survey. Combining NSG and VMS is expected to allow for an integrated development opportunity prioritizing mining of targeted high-grade zones and centralized haulage and processing to strengthening project economics and streamline advancement toward production. The LOI contemplates up to a four-month period to complete due diligence and negotiate a definitive agreement.