Moon River Capital Ltd. Announces Filing of Technical Report for Davidson Molybdenum Project Preliminary Economical Assessment

April 03, 2024 6:00 AM EDT | Source: Moon River Moly Ltd.

Toronto, Ontario--(Newsfile Corp. - April 3, 2024) - Moon River Capital Ltd. (TSXV: MOO) ("Moon River" or the "Company") reports that further to its news release dated February 22, 2024 it has filed pursuant to National Instrument 43-101 Standards of Disclosure for Mineral Projects ("NI 43-101") an independent technical report titled "Davidson Project Preliminary Economic Assessment" ("PEA") (the "Technical Report"). The Technical Report prepared by A-Z Mining Professionals Ltd. ("AMPL") for Moon River dated April 2, 2024, with an effective date of February 22, 2024 is available on SEDAR+ at and on the Company's website at

Cautionary Statement Regarding PEA

The PEA is preliminary in nature and includes Mineral Resources based on the latest resource estimates calculated and reported in a study completed by AMPL and presented in an NI 43-101 Technical Report entitled "National Instrument NI 43-101 Technical Report for the Davidson Project Resources Update" dated September 13, 2023 and filed on Sedar+.

Readers are encouraged to read the Technical Report in its entirety, including all qualifications, assumptions and exclusions that relate to the Mineral Resource. The Technical Report is intended to be read as a whole, and sections should not be read or relied upon out of context.

Qualified Persons

The scientific and technical content of this news release was reviewed, verified, and approved by Mr. Brian LeBlanc, P. Eng., President of AMPL, and a "Qualified Person" ("QP") as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects. Mr. LeBlanc is the QP responsible for the scientific and technical information contained in this press release.

About Moon River

Moon River is a Canadian-based resource company focused on the acquisition, exploration and development of mineral projects. Moon River is focused on the development of the Davidson Property which hosts a large molybdenum-tungsten deposit and is located near Smithers, British Columbia.

For further information please contact:

Paul Parisotto, President, Chief Executive Officer and Director, at (416) 800-1753 or

Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

Forward-looking Statements:

This press release contains forward-looking statements and forward-looking information (collectively, "forward-looking statements") within the meaning of applicable securities laws. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as "may", "should", "anticipate", "will", "estimates", "believes", "intends", "expects" and similar expressions, which are intended to identify forward-looking statements. More particularly and without limitation, this press release and the PEA and Technical Report referred to in this press release contain forward-looking statements. These forward-looking statements reflect the current views of the Company, represent the expectations of the Company as of the date of this news release and the PEA and Technical Report, and are based on certain assumptions that the Company and its consultants have made in preparing the PEA and Technical Report. There can be no assurance that the results particularly the expected Project returns will be achieved or the Mineral Resources that are not Mineral Reserves will be economically viability. There is no guarantee that Inferred Resources can be converted to Indicated or Measured Resources, and as such, there is no guarantee the economics described herein will be achieved. The Technical Report is intended to be read as a whole, and sections should not be read or relied upon out of context.

Although the Company believes the expectations and material factors and assumptions reflected in these forward-looking statements are reasonable as of the date hereof, there can be no assurance that these expectations, factors and assumptions will prove to be correct. These forward-looking statements are not guarantees of future performance and are subject to a number of known and unknown risks and uncertainties including risks detailed in the Company's Filing Statement and continuous disclosure, which are available on SEDAR+ at Accordingly, readers should not place undue reliance on the forward-looking statements contained in this press release.

These risk factors should not be construed as exhaustive. Readers are cautioned that events or circumstances could cause results to differ materially from those predicted, forecasted or projected in the PEA and the Technical Report in respect thereof. The forward-looking statements contained in these documents speak only as of the date of the documents. The Company does not undertake any obligation to publicly update or revise any forward-looking statements or information contained herein, except as required by applicable laws. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.

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