Mr. Paul Parisotto reports

MOON RIVER CAPITAL LTD. ANNOUNCES ENGAGEMENT OF A-Z MINING PROFESSIONALS LTD. AND COMMENCEMENT OF WORK ON A PRELIMINARY ECONOMIC ASSESSMENT ON THE DAVIDSON MOLYBDENUM DEPOSIT

Moon River Capital Ltd. has engaged A-Z Mining Professionals Ltd. (AMPL) to complete a preliminary economic assessment (PEA) to determine the economic potential for the Davidson molybdenum deposit near Smithers, in west-central British Columbia, Canada.

The PEA will utilize the latest Mineral Resource Estimate completed by AMPL and contained in the Technical Report titled National Instrument NI 43-101 Technical Report for the Davidson Project Resources Update (the "Mineral Resource Estimate") dated September 13, 2023 and will assess the potential economic viability of the mineral resources at the Davidson Project when mined by underground methods. The purpose of the study is to provide an overall technical and financial opinion on the project to aid Moon River in making the appropriate decisions regarding the advancement of the Davidson Project.

Paul Parisotto, President, and CEO stated, "We have elected to undertake a Preliminary Economic Assessment to further de-risk the Davidson Project. Establishing economic parameters around the recently updated Mineral Resource Estimate is a critical step in confirming the commercial viability of the Davidson Project. Given the location and high grade of the Davidson Project, we believe the PEA will demonstrate the very high quality of the Davidson Project."

The PEA will include a review of the historic work completed to date. The recent Mineral Resource Estimate will be used for determination of mining areas and potentially mineable resources. The PEA is expected to be completed in Q1 of 2024.

In addition, the following technical aspects of the project will be considered:Conceptual mine design including stoping areas, plan and development and production schedule;Metallurgical test-work to date;Mineral processing including flowsheet and preliminary plant sizing;Infrastructure, particularly electricity and water sources;Project development/construction schedule;Environmental, Social and First Nations;Capital and Operating cost estimates;Financial cashflow modelling;Sensitivity analysis; andRisk assessment.

About A-Z Mining Professionals Ltd.

AMPL is a mining consulting group of professionals and associates, each with over 30 years of industry experience worldwide. The Principals and Senior Associates of AMPL have extensive experience in the design and operation of both open pit and underground mining and processing facilities. AMPL will bring this collective knowledge to bear on this PEA of the Davidson Molybdenum Project.

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.

NI 43-101 Technical Report

A PEA Technical Report will be prepared by AMPL and will be filed on SEDAR within 45 days following disclosure of the results of the PEA.

Qualified Persons

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) 560-4526 or pparisotto@coniston.ca.

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.

We seek Safe Harbor.