Toronto, Ontario--(Newsfile Corp. - May 17, 2024) - Moon River Moly Ltd. (TSXV: MOO) ("Moon River" or the "Company") is pleased to announce that, further to its press release dated May 14, 2024, it has filed Articles of Amendment effective market open on May 17, 2024 to change its name to Moon River Moly Ltd. The Company's trading symbol will remain "MOO". The Company expects its shares will commence trading under the new name and CUSIP at market opening on Friday May 17, 2024.

No action will be required by existing shareholders with respect to the name change. Certificates representing common shares of the Company will not be affected by the name change and will not need to be exchanged. The Company encourages any shareholder with any questions or concerns to contact the Company or to discuss any of the foregoing with their broker or agent. A new CUSIP number has been obtained to replace the previous CUSIP number.

About Moon River Moly
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 and its acquisition of the 25% interest in the Endako Mine Complex currently held by Sojitz Moly Resources Inc. ("SMR"), a wholly owned subsidiary of Sojitz Corporation expected to close by June 2024.

For further information please contact:
Paul Parisotto, President, Chief Executive Officer and Director, at (416) 800-1753 or info@moonrivermoly.com.

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 contains forward-looking statements concerning the trading of the Company's common shares under its new name. 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 are based on certain assumptions that the Company has made in respect thereof as at the date of this press release.

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. The forward-looking statements contained in this document speak only as of the date of this document. 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.