Moon River Moly Ltd. Announces Engagement of Concentrator Support Ltd. as Project Manager for the Davidson Molybdenum-Copper-Tungsten Deposit and Grant of Stock Options

Moon River Moly Ltd. has engaged Concentrator Support Ltd. (CSL) to serve as project manager for the Davidson Molybdenum-Copper-Tungsten Deposit. Cameron Lilly, P.Eng., President of CSL, has been appointed as Project Manager for Davidson and Technical Advisor for the company's 25% interest in the Endako Mine.

Mr. Lilly was granted 400,000 stock options to acquire common shares at $0.72 per share, exercisable over a ten-year term. The appointment supports ongoing engineering studies, specifically tungsten flotation test work at Base Metallurgical Laboratories Ltd. and development planning following the updated Preliminary Economic Assessment (PEA) completed in late 2025. Mr. Lilly is designated as the Qualified Person (QP) under NI 43-101 for the technical information in this release.

Moon River Moly Ltd. (MOO) has appointed a new technical advisor, a move that follows the preliminary economic assessments (PEAs) released in December 2025 and February 2026. This appointment marks a transition from preliminary economic modeling to detailed engineering and metallurgical planning.

The company confirmed that there is no new financial data, revised economics, or change to the capital requirements outlined in the PEAs. The associated stock option grant is dilutive but immaterial relative to the approximately 37.5 million share count and represents standard compensation for external technical advisors. The news does not alter the fundamental risk profile, timeline, or capital needs of the company.

Moon River Moly Ltd. is a pre-revenue exploration and development company focused on molybdenum, copper, and tungsten in British Columbia. The company’s Davidson Project is wholly owned and located near Smithers, BC. An updated preliminary economic assessment (PEA) from February 2026 outlines a 20-year underground mine with a pre-tax net present value (NPV) of C$1.75 billion, an internal rate of return (IRR) of 42%, and capital expenditures (capex) of C$672 million. The project utilizes an all-electric mining fleet and dry-stack tailings.

Moon River also holds a 25% indirect interest in the Endako Mine, with Centerra Gold holding the remaining 75%. A restart PEA from January 2026 outlines a 10-year open-pit operation with a pre-tax NPV of $1.1 billion, an IRR of 46%, and capex of $494 million. The Endako Mine is currently on care and maintenance. Both projects are in the advanced development stage, awaiting detailed engineering, permitting, and capital.