Blue Moon Metals : Q2 2022 Interim Financials

Blue Moon Metals Inc.

Condensed Interim Consolidated Financial Statements

For the three and six months ended June 30, 2022

(Unaudited - prepared by management)

(Expressed in Canadian dollars)

NOTICE TO READER:

These condensed interim consolidated financial statements have not been reviewed by the Company's external auditors. These statements have been prepared by and are the responsibility of the Company's management. This notice is being provided in accordance with National Instrument 52-102 - Continuous Disclosure Obligations.

Blue Moon Metals Inc.

Condensed Interim Consolidated Financial Statements (unaudited - prepared by management)

(Expressed in Canadian dollars)

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF FINANCIAL POSITION

			June 30, 2022		December 31, 2021
ASSETS			$		$
Note
Cash		235,830		582,073
Receivables	10b		6,947		8,361
Prepaid expenses			8,700		119,269
Restricted cash	10b		13,864		13,864
CURRENT ASSETS			265,341		723,567
Mineral property interests	3		698,007		698,007
ASSETS			963,348		1,421,574
LIABILITIES			47,470		291,030
Accounts payable and accrued liabilities
Due to related parties	7		292,000		341,425
LIABILITIES			339,470		632,455
SHAREHOLDERS' EQUITY			11,743,011		11,743,011
Share capital	4
Contributed surplus			1,574,516		1,574,516
Deficit			(12,693,649)		(12,528,408)
SHAREHOLDERS' EQUITY			623,878		789,119
LIABILITIES AND SHAREHOLDERS' EQUITY			963,348		1,421,574
Nature of operations and going concern	1

Approved by the Board of Directors

Douglas Urch (signed) Director	Patrick McGrath (signed) Director

The accompanying notes are an integral part of these consolidated financial statements	- 2 -

Blue Moon Metals Inc.

Condensed Interim Consolidated Financial Statements (unaudited - prepared by management)

(Expressed in Canadian dollars)

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF LOSS AND COMPREHENSIVE LOSS

		Three Months Ended		Six Months Ended
		June 30,		June 30,
	2022		2021	2022		2021
		$		$		$		$
General exploration expenses		1,223		22,312		49,770		44,356
Filing and regulatory		4,364		35,587		29,224		49,223
General administrative costs		1,990		2,418		4,467		4,272
Professional fees		(7,012)		9,138		(6,512)		11,277
Share-based payments		-		49,832		-		73,107
Shareholder communication and travel		4,436		142,181		38,803		159,814
Consulting fees		21,000		18,000		42,000		36,000
Foreign exchange (gain) loss		48		(209)		(5,033)		(465)
Interest expense		4,893		7,629		12,522		15,174
LOSS AND COMPREHENSIVE LOSS	30,942		286,888	165,241		392,758
Basic and diluted loss per share		-		-		-		-
Weighted average number of common		148,080,995		129,290,228		148,080,995		128,050,939
shares outstanding

The accompanying notes are an integral part of these consolidated financial statements	- 3 -

Blue Moon Metals Inc.

Condensed Interim Consolidated Financial Statements (unaudited - prepared by management)

(Expressed in Canadian dollars)

CONSENSED INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS

For the six months ended June 30,			2022		2021
Cash flows provided by (used in)	Note		$		$
OPERATING ACTIVITIES			(165,241)		(392,758)
Loss and comprehensive loss
Items not affecting cash			-		73,107
Share-based payments
Change in non-cash working capital items			(181,002)		(26,665)
OPERATING ACTIVITIES			(346,243)		(346,316)

FINANCING ACTIVITIES
Issuance of securities	4b
Issuance costs	4b

• 1,606,346
• (127,438)

FINANCING ACTIVITIES	-	1,478,908
CHANGE IN CASH	(346,243)	1,132,592
Cash - Beginning	582,073	267,015
CASH - ENDING	235,830	1,399,607

The accompanying notes are an integral part of these consolidated financial statements	- 4 -

Blue Moon Metals Inc.

Condensed Interim Consolidated Financial Statements (unaudited - prepared by management)

(Expressed in Canadian dollars)

CONDENSED INTERIM CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY

	Note	Number of	Share	Contributed	Deficit	Shareholders'
		Shares	Capital	Surplus		Equity
			$	$	$	$
DECEMBER 31, 2020		119,553,978	10,279,967	1,157,245	(11,008,287)	428,925
Private placement	4b	28,527,017	1,621,075	285,271	-	1,906,346
Private placement issuance costs	4b	-	(127,438)	-	-	(127,438)
Finder's warrants	4b	-	(30,593)	30,593	-	-
Share-based payments	6	-	-	73,107	-	73,107
Loss and comprehensive loss		-	-	-	(392,758)	(392,758)
JUNE 30, 2021		148,080,995	11,743,011	1,546,216	(11,401,045)	1,888,182
Share-based payments	6	-	-	28,300	-	28,300
Loss and comprehensive loss		-	-	-	(1,127,363)	(1,127,363)
DECEMBER 31, 2021		148,080,995	11,743,011	1,574,516	(12,528,408)	789,119
Loss and comprehensive loss		-	-	-	(165,241)	(165,241)
JUNE 30, 2022		148,080,995	11,743,011	1,574,516	(12,693,649)	623,878

The accompanying notes are an integral part of these consolidated financial statements	- 5 -