Moon River Moly Ltd. Announces Filing of Amended Technical Report

Toronto, Ontario — Moon River Moly Ltd. (TSXV: MOO) (OTCQB: MRIVF) (“Moon River” or the “Company”) has announced the filing of an amended technical report following a review by the Ontario Securities Commission (OSC) of its Davidson Project Preliminary Economic Assessment (PEA) Technical Report, originally dated April 2, 2024. The revised document, now titled the Revised Davidson Project Preliminary Economic Assessment (PEA) Technical Report, carries an effective date of February 22, 2024.

The review by the OSC prompted Moon River to address several comments and concerns, leading to significant updates in the report. These amendments include the addition of an author and modifications to expert reliance, enhanced documentation of site visits, and the inclusion of additional cautionary language regarding historical mineral resources. Furthermore, the company has clarified its geological modeling approach and provided more detailed assumptions for mineral resource estimation.

A notable revision in the report is the presentation of the MoS2 cut-off grade, which has been adjusted to reflect more accurate and current data. These changes are part of Moon River’s commitment to transparency and compliance with regulatory standards, ensuring that all stakeholders have access to the most reliable and up-to-date information regarding the Davidson Project.

Despite these positive developments, Moon River Moly Ltd. continues to face challenges in the market. As of May 4, 2025, the company’s close price stood at 0.395 CAD, significantly below its 52-week high of 0.82 CAD, recorded on May 23, 2024. The market capitalization is currently valued at 13,510,000 CAD, with a price-to-earnings ratio of -1.57, indicating ongoing financial pressures.

Moon River Moly Ltd., a capital pool company based in Toronto, specializes in identifying and evaluating businesses and assets to complete qualifying transactions. The company’s operations serve clients nationwide, and further details about their activities and offerings can be found on their website at www.moonrivercapital.net .

As Moon River navigates these updates and market conditions, investors and stakeholders will be closely monitoring the impact of the revised technical report on the company’s future prospects and strategic direction.