Moon River Moly Ltd. Announces Filing of Amended Technical Report

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Toronto, Ontario--(Newsfile Corp. - May 7, 2025) - Moon River Moly Ltd. (TSXV: MOO) (OTCQB: MRIVF) ("Moon River" or the "Company") announces that, as a result of a review (the "Review") of the Davidson Project Preliminary Economic Assessment (PEA) Technical Report dated April 2, 2024 (the "Davidson Technical Report") by staff of the Ontario Securities Commission (the "OSC"), the Company is issuing the following news release regarding disclosure on its Davidson Project.

In connection with the Review, the Company has filed an amended technical report entitled the Revised Davidson Project Preliminary Economic Assessment (PEA) Technical Report (the "Revised Davidson Technical Report") dated April 2, 2024 with an effective date of February 22, 2024.

The Company is amending the Davidson Technical Report to address comments raised by the OSC in the course of their review. The Revised Davidson Technical Report includes changes and additions to disclosure regarding the PEA including the addition of an author on the cover page and amendment of the expert relied upon by the authors, details regarding how the site visit was undertaken, addition of required cautionary language regarding disclosure of historical mineral resource estimates and adjacent property disclosure, addition of a statement regarding the Davidson Project geology and its relevance to the QP's judgement that a detailed geological model based on lithological units is not required, addition of further language confirming that the survey quality met industry standards and was sufficient for use in constructing a block model, addition of details on the assumptions used to estimate the mineral resource, including the assumed $100 per tonne total all-in operating costs, that justify the >0.3% MoS2 cut-off grade used; highlighting of the base case >0.3% MoS2 cut-off grade and removal of the estimate for >0.0% - 0.01 % MoS2 cut-off grade material from certain tables and removal of the term "NI 43-101 resource estimate" and replacing it with "mineral resource".

The changes made to the Technical Report are disclosure changes. There are no technical changes to the estimates and results for the mineral resources or the preliminary economic analysis of the Davidson Project.

In addition to filing the Revised Davidson Technical Report, the Company has revised its website and corporate presentations to conform to the changes made to the report.

The Revised Davidson Technical Report is available under the Company's profile on SEDAR+ at www.sedarplus.ca and on the Company's website at www.moonrivermoly.com.