Moon River Moly Ltd. Announces Filing of Amended Technical Report
Moon River Moly Ltd. Announces Filing of
Amended Technical Report
Toronto, Ontario--(Newsfile Corp. - May 7, 2025) - Moon River Moly Ltd.
(TSXV: MOO) (OTCQB:
MRIVF)
("
Moon River
" or the "
Company
") announces that, as a result of a review (the "
Review
") of the
Davidson Project Preliminary Economic Assessment (PEA) Technical Report dated April 2, 2024 (the
"
Davidson Technical Report
") by staff of the Ontario Securities Commission (the "
OSC
"), the
Company is issuing the following news release regarding disclosure on its Davidson Project.
In connection with the Review, the Company has filed an amended technical report entitled the Revised
Davidson Project Preliminary Economic Assessment (PEA) Technical Report (the "
Revised Davidson
Technical Report
") dated April 2, 2024 with an effective date of February 22, 2024.
The Company is amending the Davidson Technical Report to address comments raised by the OSC in
the course of their review. The Revised Davidson Technical Report includes changes and additions to
disclosure regarding the PEA including the addition of an author on the cover page and amendment of
the expert relied upon by the authors, details regarding how the site visit was undertaken, addition of
required cautionary language regarding disclosure of historical mineral resource estimates and adjacent
property disclosure, addition of a statement regarding the
Davidson Project geology and its relevance to
the QP's judgement that a detailed geological model based on lithological units is not required, addition
of further language confirming that the survey quality met industry standards and was sufficient for use in
constructing a block model, addition of details on the assumptions used to estimate the mineral
resource, including the assumed $100 per tonne total all-in operating costs, that justify the >0.3% MoS
2
cut-off grade used; highlighting of the base case >0.3% MoS
2
cut-off grade and removal of the estimate
for >0.0% - 0.01 % MoS
2
cut-off grade material from certain tables and removal of the term "NI 43-101
resource estimate" and replacing it with "mineral resource".
The changes made to the Technical Report are disclosure changes.
There are no technical changes to
the estimates and results for the mineral resources or the preliminary economic analysis of the Davidson
Project.
In addition to filing the Revised Davidson Technical Report, the Company has revised its website and
corporate presentations to conform to the changes made to the report.
The Revised Davidson Technical Report is available under the Company's profile on SEDAR+ at
www.sedarplus.ca
and on the Company's website at
www.moonrivermoly.com
.
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. The
Company also holds 25% of one of the largest molybdenum mines in North America, the Endako Mine
Complex also located in British Columbia.
Qualified Person(s)
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.
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", "plans" and similar
expressions, which are intended to identify 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 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
the expectations and assumptions in the PEA, will prove to be correct.
The 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 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, except as required by applicable laws.
The forward-looking statements contained in this
document are expressly qualified by this cautionary statement.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/251042