Mr. Ian McDonald reports

MOON RIVER CAPITAL LTD. ANNOUNCES FILING OF FILING STATEMENT WITH RESPECT TO ITS QUALIFYING TRANSACTION

Moon River Capital Ltd., in connection with its previously announced proposed qualifying transaction, has received conditional approval from the TSX Venture Exchange and has filed a filing statement dated Oct. 31, 2023, prepared in connection with the proposed transaction on the company's profile on SEDAR-plus.

The completion of the Proposed Transaction, which is expected to take place on November 6, 2023, remains subject to a number of conditions, including, but not limited to, (i) receipt of all requisite corporate, and shareholder consents and approvals; (iii) receipt of third-party consents and approvals by Generation Mining Limited; and (iv) the absence of any material adverse effect, action, suit or proceeding that would result in a material adverse effect, with respect to the acquisition of the Davidson Property or the vending agreement dated April 1, 2016 relating to the Davidson Property.

Trading of the Company's common shares will remain halted until such time as the TSXV may determine. However, it is anticipated that the common shares of the Company will resume trading under the symbol "MOO" on or about November 13, 2023, following completion of the Proposed Transaction and the publication of a final exchange bulletin by the TSXV in respect of the closing of the Proposed Transaction.

Further details of the Proposed Transaction can be found in the Filing Statement. The Company will provide additional updates with respect to the Proposed Transaction in future news releases.

About Moon River

Moon River is a capital pool company ("CPC") within the meaning of the policies of the TSXV that has not commenced commercial operations and has no assets other than cash. Except as specifically contemplated in the CPC policies of the TSXV, until the completion of a Qualifying Transaction (as defined in Policy 2.4 - Capital Pool Companies of the TSXV), the Company will not carry on business, other than the identification and evaluation of companies, businesses, or assets with a view to completing a proposed Qualifying Transaction. Investors are cautioned that trading in the securities of a CPC is considered highly speculative.

We seek Safe Harbor.