Mr. Paul Parisotto reports

MOON RIVER MOLY LTD. CLOSES $3.6 MILLION LIFE OFFERING

Moon River Moly Ltd. has closed its best efforts private placement offering previously announced by the company on Feb. 11, 2026, pursuant to which 4,246,716 units of the company were issued at a price of 85 cents per unit for gross proceeds of approximately $3,609,709.

Each unit consists of one common share of the company and one-half of one common share purchase warrant. Each warrant entitles the holder thereof to acquire one common share at price of $1.15 per warrant share at any time until Feb. 26, 2028, provided that the warrants may not be exercised prior to April 27, 2026.

All units distributed in connection with the offering were issued and sold: (i) pursuant to the listed issuer financing exemption under Part 5A of National Instrument 45-106, Prospectus Exemptions, as amended and supplemented by Coordinated Blanket Order 45-935, Exemptions from Certain Conditions of the Listed Issuer Financing Exemption, of the Canadian Securities Administrators, in each of the provinces of Canada, other than Quebec; and (ii) in the United States and other offshore jurisdictions, pursuant to available exemptions from the prospectus, registration or other similar requirements in such offshore jurisdictions, such that no prospectus, registration statement or similar document is required to be filed in any such offshore jurisdiction, in each case, in accordance with applicable laws.

The securities issued under the LIFE (listed issuer financing exemption) will not be subject to a statutory hold period in Canada pursuant to applicable Canadian securities laws. The offering remains subject to the final acceptance of the TSX Venture Exchange.

The offering was completed pursuant to the terms of an agency agreement dated Feb. 26, 2026, among the company, Canaccord Genuity Corp. as lead agent and ATB Cormark Capital Markets. As consideration for their services in connection with the offering, the company paid the agents a cash commission totalling approximately $252,670 and issued an aggregate of 297,270 non-transferable broker warrants of the company to the agents. Each broker warrant is exercisable to acquire one unit at a price of 85 cents per broker warrant unit at any time until Feb. 26, 2028, subject to adjustment in certain circumstances. The broker warrants, and the common shares and warrants underlying the broker warrant units, are subject to a statutory hold period of four months and one day pursuant to applicable Canadian securities laws, expiring on June 27, 2026.

The company intends to use the net proceeds of the offering to commence baseline environmental studies and further engineering studies to advance and derisk the Davidson molybdenum-copper-tungsten project, located near Smithers, B.C., as recommended in the updated preliminary economic assessment released on Dec. 23, 2025, and to continue to do further studies to derisk and advance the Endako mine, located in central British Columbia, as well as for general working capital and corporate purposes, as further described in the company's offering document under the LIFE dated Feb. 11, 2026.

Certain directors and officers of the company subscribed for an aggregate of 1,272,416 units under the offering on the same terms as arm's-length investors. The participation of the directors and officers in the offering constitutes a related party transaction for the purposes of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The company is exempt from the requirements to obtain a formal valuation or minority shareholder approval in connection with the offering in reliance on sections 5.5(a) and 5.7(1)(a) of MI 61-101, as neither the fair market value of the securities issued to the directors or officers nor the fair market value of the consideration for the securities issued to the directors or officers exceeds 25 per cent of the company's market capitalization as calculated in accordance with MI 61-101. The company did not file a material change report containing all of the disclosure required by MI 61-101 more than 21 days before the expected closing date of the offering as the aforementioned insider participation had not been confirmed at that time and the company wished to close the offering as expeditiously as possible for sound business reasons.

About Moon River Moly Ltd.

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, B.C. The company also holds 25 per cent of one of the largest molybdenum mines in North America, the Endako mine complex, also located in British Columbia.

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