Exploration and drill program expected in Q4. Advanced stage zinc asset in safe jurisdiction; Prior producer during WWII. Prior work completed by Boliden/Imperial/Barrick. Resource is roughly 10% zinc equivalent (6% zinc plus significant credits for copper, gold and silver). Key advisor is Lutz Klingmann, Golden Queen's former CEO, who permitted and achieved commercial production of the Soledad project (California) in 2016. Excellent local infrastruture

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Dear Alphastox Subscribers,
I wanted to send out a quick note a new company I wanted to feature called Blue Moon Zinc
(TSXV:MOON). As most of you know, I’m very bullish on Zinc so I wanted to get positioned with a solid
management team, with a quality deposit that know how to create value for their shareholders.
Why Blue Moon?
 Exploration and drill program expected in Q4
 Advanced stage zinc asset in safe jurisdiction; Prior producer during WWII
 Prior work completed by Boliden/Imperial/Barrick
 Resource is roughly 10% zinc equivalent (6% zinc plus significant credits for
copper, gold and silver)
 Key advisor is Lutz Klingmann, Golden Queen's former CEO, who permitted
and achieved commercial production of the Soledad project (California) in
2016
 Excellent local infrastruture
Why Zinc?
 Existing mine reserves globally are not being replaced
 Declining average grades in current operations
 Limited number of new projects being brought into production
 Political and jurisdictional risk are high for other projects, along with geographical risk, where a
number of larger projects are in remote locations that lack infrastructure and access
 Timing is everything: Zinc prices increased 50% and processing fees have decreased
The way all this came about was actually very interesting. Patrick McGrath, MOON’s current CEO,
started out as a regular shareholder in the company. He bought the stock as a long-term hold based on
the Blue Moon zinc asset and its potential. After watching the stock dwindle down to new lows as Zinc

2. prices increased, he decided to take matters into his own hands, assemble a new team and take it over,
and that’s exactly what he did.
Patrick isn’t doing this because he has a bunch of cheap paper in the deal, or options below market or a
massive salary to protect. On the contrary, he’s buried in the deal and has no choice but to make this
thing a success. Since he decided to take an active role and take control of the company, Patrick and his
team acquired their position in the market…and paid for it all. Once they had a big enough position to
draw some attention, they pushed for a change of management, rebranded the company to Blue Moon
Zinc, changed the symbol from “SVT” to “MOON” raised a little bit of cash to position a couple strategic
investors and off they went. The story makes sense and I love hearing how shareholders take control of
what’s theirs. He’s got a major feat ahead of him but he’s got the right team, asset and market to
accomplish his goals.
Even though there’s already over 90 million shares outstanding, I look at this as a re-start. They didn’t
roll it back because insiders themselves own over 21% of the company so they didn’t need to. It’s fairly
tightly held among like minded individuals who will work tirelessly to develop their deposit and create
value for their investors.
Before we move onto anything else, let’s take a few moments to go through their asset.
The Company is focused on the advanced stage 100% owned Blue Moon zinc project. The Blue Moon
project is subject to a NI 43-101 resource assessment with approximately 2.62 million tons with a grade
of 6.01% zinc in the Indicated category and 2.68 million tons with a grade of 5.98% zinc in the Inferred
category plus significant bi-products of copper, silver and gold. The resource is open at depth and along
strike and has favourable metallurgy. A report detailing the resource is available here and filed on SEDAR
on February 21, 2008. The Company plans to expand the resource through an exploration and
development drill program and advance the project to feasibility and permitting.
Location

3. The Blue Moon Deposit is wholly-owned by the Company and is located in east central California within
Mariposa County in the Foothills. The property is accessible by gravel roads off nearby paved highway.
There are active mines in the region and was part of the original California gold rush.
Infrastructure

4. The main transmission lines and a hydroelectric power generation facility are both within one mile of
the property. Sea ports, rail and trucking routes are all accessible.
History
Mining by Hecla Mining Company during 1943-1945 produced 55,656 tons grading 12.3% zinc, 0.36%
copper, 0.48% lead, 3.75 oz/ton silver and 0.062 oz/ton gold. The property was actively explored by
Colony Pacific Explorations Ltd. (now Imperial Metals), Westmin Resources Limited (Now Boliden) and
Lac Minerals (now Barrick) in the 1980s and 1990s.
Resource and Upside

5. Review, verification and analysis of the historical data has provided a preliminary NI 43-101 compliant
resource estimate of the poly metallic massive sulphide deposit at its Blue Moon project. The 2008
technical report was co-authored by Moose Mountain Technical Services and Giroux Consultants Ltd.
(“GCL”). The resource estimate estimated by GCL at Blue Moon has been classified as indicated and
inferred.
For resource calculations purposes, it has been assumed that the Blue Moon Deposit would likely be
mined by underground methods. The results of the resource estimate are as follows:

6. Exploration Upside

7. Remodelling of the deposit using the digitized data shows the deposit is open both to depth and to the
south. The potential to expand the current resources is considered excellent.
Metal Prices and Estimated Recoveries (Metallurgy)
As the Blue Moon is a multi-variable deposit with all variables contributing to the economic value a
method of combining the grades into one variable was required. A gross recoverable value “GRV” was
chosen making use of reasonable metal prices and estimated recoveries. The 2008 parameters used
were as follows:
Zinc $0.75/pound 95% Recovery
Copper $2.00/pound 93% Recovery

8. Lead $0.78/pound 95% Recovery
Silver $8.50/ounce 65% Recovery
Gold $600 /ounce 70% Recovery
The equation to calculate GRV was as follows:
GRV (US$) = Zn% * 14.25 + Cu % * 37.20 + Pb% * 14.82 + Ag(oz/t) * 5.525 + Au(oz/t) * 420.0
Recoveries used in the calculation are based on metallurgical testing of drill core undertaken by
Lakefield Research on samples of mineralization.
The NI 43-101 report was produced by Gary Giroux, P.Eng. MASc and Robert J. Morris, MSc. P.Geo. who
are Qualified Persons as defined by NI-43-101 and are responsible for the technical material related to
the resource calculation. The NI 43-101 report is available here and on SEDAR (February 21, 2008)
So there you have it. This is going to be my first report of many to come so make sure you stay tuned.
As always, if you have any questions, please don’t hesitate to get in touch with me anytime. I look
forward to hearing from you.
Best,
Etienne
Disclosure: Transcend Capital Inc. is a shareholder of Blue Moon Zinc and has been paid a fee
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