Blue Moon Zinc Corp. (TSXV: MOON; US: BMOOF) ("Blue Moon" or the "Company") is pleased to announce that its recently completed drill program intersected multiple massive sulphides at its 100% controlled Blue Moon Zinc deposit.

Hole No. BMZ78 intersected over 11.5 meters (~38 feet) of massive sulphides. True width of the zone is estimated to be 55-65% of drilled width, and assaying results are pending and expected in January 2019. Historically the deposit was mined by Hecla Mining Company with an average grade of 12.3% zinc during the second world war. Blue Moon recently updated its 43-101 Mineral Resource(*) to 7.8 million inferred tons at 8.07% zinc equivalence, which includes 771 million pounds of 4.95% zinc, 71 million pounds of 0.46% copper, 300,000 ounces of gold at 0.04 oz/t, and 10 million ounces of silver at 1.33 oz/t(*please refer to press release dated November 20, 2018 for full details). 

Patrick McGrath, Blue Moon CEO, commented"Receiving the key multi-year drill permit earlier in 2018 is a project milestone and we recently completed our first phase of drilling on the Blue Moon deposit, which included very encouraging massive sulphide mineralization over a large width. The Company continues to take the steps to further advance the high-grade zinc deposit and looks forward to receiving the final assays for the 2018 drilling program and planning our follow-on drilling program to continue to expand and explore the current Blue Moon deposit."

Zinc Equivalents (ZnEq)

The Mineral Resource has been stated in terms of ZnEq. The ZnEq formula and the underlying parameters used in its formulation are set out below.

Metal

Price (US$)

Recovery (%)

Factor

Zinc

1.30/lb

95

24.70

Silver

17.00/oz

65

11.05

Copper

3.00/lb

93

55.80

Gold

1,250.00/oz

70

875.00

Lead

1.00/lb

95

19.00

 

The metal prices and the recoveries selected represent reasonable estimates of long term metal prices and potential recoveries of metal in concentrate. The Mineral Resource estimate is summarized above at a range of ZnEq cut-off grades. The equation to calculate ZnEq is as follows:

ZnEq = (Zn%*24.70 + Cu % * 55.80 + Pb% * 19.00 + Ag(oz/t) * 11.05 + Au(oz/t) * 875.00) / 24.70

About Blue Moon

Blue Moon (TSXV: MOON; US:BMOOF) is currently advancing its 100%-controlled Blue Moon zinc deposit which also contains copper, silver and gold. The deposit is open at depth and along strike. More information is available on the company's website (www.bluemoonmining.com). The Company plans to advance the Blue Moon Project through to feasibility, permitting and ultimately production.

Qualified Persons

Peter A. Herrera, P. Geo, is a qualified person as defined by NI-43-101, and has reviewed the scientific and technical information that forms the basis for this news release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Resource estimates included in this news release are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions set forth in the relevant technical report and otherwise, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices for zinc, the results of future exploration, uncertainties related to the ability to obtain necessary permits, licenses and titles, changes in government policies regarding mining, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this press release, and the Company undertakes no obligation to update publicly or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable securities laws.

The securities referenced in this news release have not and will not be registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Patrick McGrath, CEO, 1-832-499-6009, [email protected]

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