Toronto, Ontario–(Newsfile Corp. – July 16, 2026) – Moon River Moly Ltd. (TSXV: MOO) (OTCQB: MRIVF) (“Moon River” or the “Company) is pleased to announce that it has engaged Concentrator Support Ltd. (“CSL“) as consultant to provide engineering and metallurgical services for the Davidson Molybdenum-Copper-Tungsten Deposit (the “Davidson Project“) near Smithers, in west-central British Columbia, Canada. Under the Consulting Agreement, Cameron Lilly, P. Eng., President of CSL, will serve as Project Manager for the Davidson Project and as Technical Advisor for the Company’s 25% interest in the Endako Mine (“Endako“). Mr. Lilly has over 25 years of experience in the mining industry and has held various positions including contract, project and senior metallurgist; mill manager; process engineer; mill management contractor; senior process engineer; and consulting engineer.
Paul Parisotto, President, and CEO, stated, “Mr. Lilly’s experience and skills will be a great contribution as Moon River moves forward with its further engineering studies to advance and derisk the Davidson Project, including providing oversight to the ongoing tungsten flotation test work currently being undertaken at Base Metallurgical Laboratories Ltd. in Kamloops, BC and planning for development of the Davidson Project.”
Moon River completed an updated preliminary economic assessment to further de-risk the Davidson Project and determine the economic potential of the deposit in December 2025 prepared by A-Z Mining Professionals Ltd. (“AMPL“). The independent technical report entitled the National Instrument NI 43-101 Technical Report for the Davidson Mine Preliminary Economic Assessment (“PEA“) (“the Davidson Mine Technical Report”) dated February 6, 2026, with an effective date of December 23, 2025, was filed on www.sedarplus.ca. (See press releases dated December 23, 2025, and February 6, 2026) and is available on Moon River’s website www.moonrivermoly.com.
Mr. Lilly has been granted stock options under the Company’s Stock Option Plan to acquire 400,000 common shares of Moon River at $0.72 per share for a ten-year term.
About CSL
CSL is a mining engineering and metallurgical consulting firm. Mr. Cameron Lilly, the Principal of CSL has extensive engineering and operating experience in mills serving both underground and open-pit mines. CSL will bring extensive knowledge to assist Moon River with the advancement and future development of the Davidson Project and provide technical advice to the Company regarding its 25% interest in the Endako Mine.
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-copper deposit and is located near Smithers, British Columbia. The Company also holds 25% in one of the largest molybdenum mines in North America, the Endako Mine Complex also located in British Columbia.
Qualified Person
Mr. Cameron Lilly, P. Eng., President of CSL, and a “Qualified Person” (“QP”) as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects. Mr. Lilly is the QP responsible for the scientific and technical information contained in this press release.
For further information please contact:
Paul Parisotto, President, Chief Executive Officer and Director, at (416) 560-4526 or pparisotto@moonrivermoly.com.
The TSXV has in no way passed upon the merits of the Proposed Transaction and has neither approved nor disapproved the contents of this press release. 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 advancement of the Davidson Project.
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 www.sedarplus.ca. 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.
