Critical Metals and Two Companies with Key Catalysts

Third-Party Recommendation (Art. 8 DelVO 2016/958): Unmodified reproduction of a promotional article created by a third party · Original creator: SRC swiss resource capital AG · Date of first publication (original): August 28, 2026, 5:33 a.m. Berlin/Zurich · Link to the original publication ·

Advertisement – This article is distributed on behalf of Aurania Resources Ltd. and Blue Moon Metals Inc., with which SRC swiss resource capital AG has paid investor relations consulting agreements. · Producer: SRC swiss resource capital AG · Author: freelance journalist · First published: August 28, 2026, 5:33 a.m. Zurich/Berlin ·

Dear Readers,

Europe’s commodities policy is becoming a concrete investment story. Aurania Resources offers early-stage exploration and reprocessing opportunities in Europe. Blue Moon Metals already has a copper project under construction at Nussir and plans to develop Springer into a U.S. hub for critical metals.

Security of supply is becoming an investment theme

The European Union lists antimony and tungsten on its current list of 34 critical raw materials. Tungsten is also classified as a strategic raw material under the Critical Raw Materials Act. Copper and nickel have also been included due to their strategic importance. By 2030, the EU aims to produce at least 10% of its needs domestically, process 40%, and cover 25% through recycling. At the same time, no more than 65% of the annual consumption of a strategic raw material should come from a single third country.

The U.S. is also ramping up the pressure: According to the 2026 Mineral Commodity Summaries, in 2025 the U.S. was entirely dependent on net imports for 16 non-energy raw materials and more than 50% dependent for 54 others. Chinese export restrictions, including those on antimony and tungsten, are fueling interest in Western supply chains. This is where Aurania and Blue Moon come in — albeit at very different stages of development.

Aurania Resources: Europe’s Early Commodity Option

Aurania - https://www.commodity-tv.com/ondemand/companies/profil/aurania-resources-ltd/ - is a non-producing explorer currently focusing more heavily on Europe. Exploration at its main material project, Lost Cities-Cutucú in Ecuador, has been suspended due to political and economic conditions; the company is taking a wait-and-see approach there.

Brittany: Three Permits, 851 Square Kilometers of Potential

In December 2025, Aurania received three exploration permits for Epona, Taranis, and Bélénos through its French subsidiary. Together, they cover 851.4 km² along the South Armorican shear zone. The company is searching for gold as well as, among other minerals, antimony, tungsten, tin, molybdenum, and copper. Historical discoveries and data from the French Geological Survey (BRGM) confirm indicators of mineralization.

Balangero: Critical Metals from Historic Tailings

In northern Italy, Aurania is evaluating the recovery of metals from tailings at the former Balangero asbestos mine based on a Memorandum of Understanding. According to the company, SRK is working on a Preliminary Economic Assessment (PEA); a sampling program involving approximately 450 kg of material is examining mineralogy, beneficiation, and magnetic separation.

The project partners estimate the main deposit at approximately 60 million m³. Based on this and an assumed density, Aurania has tentatively estimated the deposit to contain approximately 153 million metric tons of material. A limited exploration program reported an average of 0.15% nickel, conceptually representing approximately 229,500 metric tons of contained nickel. This rough company estimate is neither a current resource nor a reserve, nor is it a profitability forecast.

Iceland: Earn-in Creates an Additional Gold Option

Since April 2026, Aurania has held a definitive option on the Thormodsdalur project, located approximately 20 km east of Reykjavík. By incurring exploration expenditures of $5 million over four years, Aurania can acquire a 70% interest and, under certain conditions, increase this to 100% by spending an additional $2 million. Surface work and targeted drilling are planned. Historical grades are of exploratory interest but are, in some cases, not representative. True thicknesses and a modern resource estimate are still lacking.

Blue Moon Metals: Nussir Makes the Difference

Blue Moon - https://www.commodity-tv.com/play/blue-moon-metals-is-on-track-to-bring-two-mines-into-production-by-2027/ - brings together five core brownfield projects in Norway and the U.S. A recent feasibility study is available for the Norwegian copper-gold-silver project; the Board of Directors made the final investment decision in April 2026, and construction is underway. Springer, Apex, Blue Moon, and NSG, on the other hand, are in various stages of development and evaluation.

Nussir: Study, Reserves, and Ongoing Construction

The feasibility study prepared by Worley in April 2026 reports 28.72 million metric tons of measured and indicated resources with 1.20% copper equivalent, as well as 24.98 million metric tons of proven and probable reserves with 0.99% copper equivalent. In addition, there are 31.99 million metric tons of inferred resources with 1.23% copper equivalent, which are geologically less well-defined and are not included in the reserves.

The base case scenario assumes a daily throughput of 6,000 metric tons and a mine life of 13 years. Using consensus prices, the study calculated a post-tax net present value of $235 million at an 8% discount rate, an internal rate of return of 19%, and an initial capital requirement of $184 million. These are study results based on defined assumptions — not guaranteed future cash flows.

According to the study, hot commissioning is scheduled to begin in August 2027. Production and ramp-up are planned for December 2027. On August 13, 2026, Blue Moon announced that the EPC contract had been awarded and that work was proceeding according to plan. The primary permits are in effect, and additional secondary permits are currently being processed.

Springer: Strategic Hub Requiring Technical Validation

Blue Moon acquired the Springer complex in Nevada in February 2026. The site includes shaft and underground facilities, a mill with a nominal daily throughput of approximately 1,200 metric tons, and a decommissioned tungsten processing plant. The company plans to conduct confirmation drilling, technical work, and permitting procedures. The target for a potential restart is the fourth quarter of 2027.

33 U.S. Projects Aimed at Broadening the Raw Material Base

On August 11, 2026, Blue Moon signed a binding letter of intent for 33 tungsten and antimony projects in the western United States that could potentially supply Springer with material in the future. The consideration includes 2.8 million Blue Moon shares with a stated value of approximately $15.5 million, $5 million in cash, a 1% net smelter return (NSR) royalty per project, and potential milestone payments.

The transaction has not yet been completed. It is subject to TSXV approval and, according to the company’s plans, is expected to be finalized in October 2026. The historical production and grade data for several targets have not been verified using modern methods. Blue Moon must therefore first set priorities, confirm drilling targets, and demonstrate the economic viability of potential transportation and processing concepts.

Apex in Utah complements the strategy with germanium, gallium, and copper. Blue Moon in California and NSG in Norway could provide further options. The industrial logic behind the hub-and-spoke model is understandable — but economic validation for the U.S. chain is still pending.

Conclusion: Two interesting commodity stories

Aurania offers an early opportunity in European mineral resources. Blue Moon combines the Nussir construction project with an interesting U.S. platform. The key benchmarks are clear: Brittany fieldwork, the Balangero PEA, and the Thor program at Aurania; and Nussir construction progress, regulatory clarity, Springer data, and completion of the 33-project transaction at Blue Moon. If the transition from plans to solid results is successful, the respective investment thesis should become significantly more concrete.

Latest company news and press releases from Blue Moon Metals (- https://www.resource-capital.ch/de/unternehmen/blue-moon-metals-inc/ -) and Aurania Resources (- https://www.resource-capital.ch/de/unternehmen/aurania-resources-ltd/ -)

You can also find more information in our new Battery Metals Report at the following link: https://www.resource-capital.ch/de/reports/ansicht/batteriemetall-report-2026-03/.

Best regards

Yours,

Marc Ollinger

Primary sources and data as of August 27, 2026: EU Raw Materials List/CRMA · USGS MCS 2026 · Aurania AIF 2025 · Aurania Projects · Nussir Feasibility Study · Nussir FID/Springer · Nussir Clarification · 33 U.S. Projects LOI

MANDATORY DISCLOSURES | DISCLOSURE | RISK WARNINGS

Disclosure, Conflicts of Interest, and Disclaimer

Paid Publication and Relationship with the Issuers. This article is a paid advertisement and is distributed on behalf of Aurania Resources Ltd. and Blue Moon Metals Inc. SRC swiss resource capital AG (“SRC”) has paid IR consulting agreements with both issuers and receives compensation for the preparation and distribution of communications services. This financial conflict of interest may influence the selection of topics, their emphasis, and the positive framing of the content. The compensation is not contingent upon the achievement of specific price targets or the success of any individual transaction, unless the editorial team has been provided with information to the contrary.

Creator, Author, Date, and Management Review. The creator and responsible publisher is SRC swiss resource capital AG. The article was written by a freelance journalist and first published on August 28, 2026, at 5:33 a.m. (Zurich/Berlin). It is based exclusively on publicly available information cited in the list of sources, with data current as of August 27, 2026. No management review or prior approval by Aurania Resources Ltd. or Blue Moon Metals Inc. took place. Facts, study results, corporate objectives, and editorial assessments are presented separately to the best of our knowledge; however, errors or subsequent changes cannot be ruled out.

Personal Positions and Other Interests. According to information available to the editorial team, the author holds no positions in the issuers discussed. The net long or net short positions held by SRC and the persons involved in the preparation of this report or affiliated with it are less than 0.5% of the issued share capital for each issuer discussed. According to the available information, none of the issuers discussed holds a stake of at least 5% in SRC. SRC, its governing bodies, employees, or affiliated persons may hold, acquire, or dispose of securities of the issuers discussed; this may give rise to additional conflicts of interest. Updates are provided only as events warrant, not on a fixed schedule.

Classification of this article. This article constitutes journalistic, editorial, and commercial corporate communications. It is neither independent financial analysis nor investment advice, an individual recommendation, research in the regulatory sense, an offer, a solicitation to buy or sell, a prospectus, nor any other basis for an investment decision. It contains no price targets and makes no statements regarding the current or future value of a financial instrument. Every investment decision is made at one’s own risk and should be based only on a review of the original documents, one’s personal financial circumstances, and, if necessary, after consulting independent professional advice.

Forward-Looking Statements. This article contains statements regarding plans, objectives, expectations, potential commencement of production, permits, financing, exploration programs, resource development, and financial results. Such statements are forward-looking and are based on assumptions that may prove to be inaccurate. Actual results may differ materially. Words such as “plans,” “should,” “expects,” “could,” “would,” “target,” or similar expressions do not constitute a guarantee. Readers should not place undue reliance on forward-looking statements.

Mineral Projects, Resources, Reserves, and Historical Estimates. Mineral resources are not mineral reserves and, by themselves, do not demonstrate economic viability. Inferred resources have a lower degree of geological certainty. Results from PEA, pre-feasibility, or feasibility studies depend on commodity prices, exchange rates, metallurgical assumptions, costs, permits, financing, and other parameters. Historical estimates and historical production or grade data should not be treated as current resources or reserves unless they have been verified by a qualified person in accordance with applicable standards. The editorial team has not conducted its own sampling, data verification, or technical assessments; the original publications and technical reports of the issuers remain authoritative.

Specific Risks. Shares of small exploration and mining companies are highly speculative, often volatile, and may have low liquidity. Risks include, in particular, total loss, dilution due to capital actions, financing and refinancing risks, fluctuations in commodity prices and exchange rates, geological and metallurgical uncertainties, deviations from resource and cost assumptions, construction and commissioning risks, delays, cost overruns, operational disruptions, missing or revoked permits, legal and regulatory proceedings, environmental regulations, the rights of indigenous groups and other stakeholders, political risks, and the absence of economically mineable deposits. The ongoing regulatory reassessment of the potential impact of the Engebø ruling on Nussir is a project-specific regulatory risk factor; conversely, its existence does not mean that the Nussir permit has been revoked.

Transactions and Financing. Announced acquisitions, letters of intent, financing facilities, and timelines may be subject to conditions, approvals, due diligence reviews, milestones, or closing risks. In particular, according to the company, the transaction involving 33 U.S. projects announced on August 11, 2026, is still subject to TSXV approval and closing. Financing commitments, non-binding components, and amounts not yet drawn down should not be equated with freely available liquidity.

Sources, Timeliness, and Liability. The information is derived primarily from the issuers and public authorities and was selected at the editorial team’s discretion. Company statements are driven by vested interests and are subject to change. Despite careful review, no express or implied warranty is provided regarding completeness, accuracy, timeliness, or fitness for a particular purpose. To the extent permitted by law, SRC, the publisher, the author, and affiliated parties are not liable for any direct or indirect damages arising from the use or non-use of the information. Mandatory statutory liability provisions, in particular those relating to willful misconduct and gross negligence, remain unaffected.

Legal Framework and Regulatory Classification. The presentation is based on the principles of objective reporting and transparent disclosure of interests in accordance with Article 20 of the Market Abuse Regulation (MAR) and Delegated Regulation (EU) 2016/958, as well as the BCSC principles on the clear and prominent disclosure of investor relations and the NI 43-101 principles applicable to technical mining disclosures. This does not imply any official review or approval, nor does it constitute a guarantee of full legal compliance in every individual case. The legal classification may depend on the content, method of distribution, target audience, and specific circumstances.

Copyright and Links. The content is protected by copyright. External links are provided for the purpose of citing sources and providing additional information; the operators of external websites are solely responsible for their content and any subsequent changes. The currently published original documents of the issuers and regulatory authorities are authoritative.

Use of AI-Supported Systems:

AI-supported systems may be used as editorial tools in the creation and editing of our articles, particularly to assist with research, analysis, structuring, and linguistic revision. All content intended for publication undergoes a thorough human and editorial review prior to publication, is revised as necessary, and is approved by the responsible editorial team. Editorial responsibility for the published content remains solely with the respective publisher.