BC MOLY Closes Private Placement

BC MOLY CLOSES PRIVATE PLACEMENT

Vancouver, British Columbia – April 14, 2022 – BC Moly Ltd. (“ BC Moly” or the “ Company”) (NEX: BM.H) is

pleased to announce that further to its press releases dated February 10, 2022 and February 16, 2022, the Company

has closed the non-brokered private placement of subscription receipts (the “Offering”) for aggregate gross proceeds

of $1,000,000 at a price of $0.165 per subscription receipt.

Pursuant to the terms of the Offering, the Company issued 3,910,606 conventional unit subscription receipts of the

Corporation (each, a “Conventional Unit Subscription Receipt ”) and 2,150,000 flow-through unit subscription

receipts of the Corporation (each, a “Flow-Through Unit Subscription Receipt” and together with the Conventional

Unit Subscription Receipts, the “Subscription Receipts”).

The gross proceeds from the Offering (the “Subscription Receipt Proceeds”) are held by Garfinkle Biderman LLP

(“Garfinkle”), in its capacity as subscription receipt agent, pursuant to the terms of a subscription receipt agreement.

Upon the satisfaction and/or waiver of certain escrow release conditions (the “Escrow Release Conditions ”),

including the Reactivation, each: (i) Conventional Unit Subscription Receipt will automatically be converted into one

unit (each, a “Conventional Unit ”), comprised of one common share in the capital of the Company (each, a

“Common Share”) and one Common S hare purchase warrant (each, a “Underlying Warrant ”), with each

Underlying Warrant exercisable for the purchase of one Common Share at a price of $0.22 for a period of five years;

and (ii) Flow -Through Unit Subscription Receipt will automatically be conver ted into one unit (each, a “Flow-

Through Unit”), comprised of one Common Share, which qualifies as a “flow-through share” within the meaning of

the Income Tax Act (Canada) (each, a “Flow-Through Share”) and one Underlying Warrant.

The Subscription Receipts and any underlying securities issued pursuant to the Offering are subject to a statutory hold

period of four months and one day from the date hereof.

The net proceeds raised from the sale of Flow -Through Unit Subscription Receipts will be used to incur “Canadian

exploration expenses” that are “flow-through mining expenditures” (as such terms are defined in the Income Tax Act

(Canada)) and the net proceeds raised from the sale of the Conventional Unit Subscription Receipts will be used for

general working capital expenses.

In connection with the Offering, certain “ related part ies”, for the purposes of Multilateral Instrument 61 -101 –

Protection of Minority Security Holders in Special Transactions (“ MI 61 -101”), subscribed for an aggregate of

1,000,000 Subscription Receipts. The issuance and sale of these securities to such related parties constituted a “related

party transaction” for the purposes of MI 61-101. The Company is relying on exemptions from the formal valuation

and minority shareholder approval requirements available under MI 61-101. The Offering is exempt from the formal

valuation and minority shareholder approval requirements of MI 61-101 (pursuant to subsection 5.5(b) and 5.7(1)(b))

as the Company is not listed on the markets specified in MI 61 -101 and neither the fair market value of the

Subscription Receipts distributed to, nor the consideration received from interested parties exceeded $2,500,000.

Capitalized terms not otherwise defined herein have the meanings attributed to them in the February 10, 2022 press

release.

Early Warning Report

In connection with closing of the Offering, Pat DiCapo (the “Acquiror”), has acquired ownership and control of an

aggregate of 600,000 Flow- Through Unit Subscription Receipts, which u pon the satisfaction and/or waiver the

Escrow Release Conditions, will result in the acquisition of 600,000 Flow- Through Shares and 600,000 Underlying

Warrants. Upon conversion of the Flow- Through Unit Subscription Receipts, the Acquiror’s aggregate ownership

will represent approximately 33.49% of the issued and outstanding Common Shares on a non -diluted basis and

34.62% on a partially diluted basis. Prior to the closing of the Offering, the Acquiror beneficially owned and exercised

control and direction over 38.49% of the issued and outstanding Common Shares on a non-diluted basis and partially

diluted basis. The Acquiror acquired these securities for investment purposes and may, from time to time, acquire

additional securities of the Company or dispose of such securities as the Acquiror may deem appropriate. The address

of the Company’s head office is #3606 - 833 Seymour Street Vancouver, British Columbia V6B 0G4.

For the purpose of National Instrument 62-103 – The Early Warning System and Related Take-Over Bid and Insider

Reporting Issues, a copy of the Acquiror’s early warning report may be obtained on the Company’s SEDAR profile

or by contacting:

Andrew Todd

DSA Corporate Services Inc.

Tel: 416-848-7744

Fax: 416-848-0790

Email: [email protected]

About BC Moly Ltd.:

BC Moly Ltd. is a Canadian mineral exploration company focused on the development of its Storie Property

molybdenum deposit. The Storie Property is situated about 6 km southwest of Cassiar, British Columbia. Cassiar is

located 15 km (by paved road) west of Highway 37 which provides access to Watson Lake, Yukon, to the north and

Dease Lake and Stewart, British Columbia, to the south.

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.

Additional Information

David D’Onofrio

BC Moly Ltd.

Chief Executive Officer and Director

416.643.3880

Cautionary Statements

Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any

statements that are contained in this news 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”, “expect”, “potential”, “believe”, “intend” or the negative of these terms and similar expressions.

Forward-looking statements in this news release include b ut are not limited to: the Company’s ability to complete

Reactivation; the Company utilizing the use of proceeds as outlined herein and the ability of the Company to meet the

Escrow Release Conditions.

Forward-looking statements are based on certain assump tions regarding the Company, including expected growth

results of operations, performance, continued approval of the Company’s activities by the relevant governmental

and/or regulatory authorities, industry trends, the Company completing the Reactivation, the Company utilizing the

use of proceeds as outlined herein and the Company meeting the Escrow Release Conditions. While the Company

considers these assumptions to be reasonable, based on information currently available, they may prove to be

incorrect. Readers are cautioned not to place undue reliance on forward-looking statements.

Forward-looking statements also necessarily involve known and unknown risks, including, without limitation, risks

associated with general economic conditions; adverse industry events; marketing costs; loss of markets; future

legislative and regulatory developments; inability to access sufficient capital from internal and external sources,

and/or inability to access sufficient capital on favourable terms; income tax and regulatory matters; competition; the

inability of the Company to meet the Escrow Release Conditions and/or Reactivation; the Company not utilizing the

use of proceeds as outlined herein; and other risks. Readers are cau tioned that the foregoing list is not exhaustive.

Readers are further cautioned not to place undue reliance on forward-looking statements as there can be no assurance

that the plans, intentions or expectations upon which they are placed will occur. Such information, although

considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may

differ materially from those anticipated. Forward -looking statements contained in this news release are expressly

qualified by this cautionary statement and reflect our expectations as of the date hereof, and thus are subject to change

thereafter. The Company disclaims any intention or obligation to update or revise any forward -looking statements,

whether as a result of new information, future events or otherwise, except as required by law. This news release has

been approved by the board of directors of the Company . Factors that could cause anticipated opportunities and

actual results to differ materially include, but are not limited to, matters referred to above and elsewhere in the

Company’s public filings and material change reports that will be filed in respect of the Offering, which are and will

be available on SEDAR.