Moonbound Mining Ltd. announced that, further to its news release dated December 15, 2023, it has entered into a share exchange agreement dated January 3, 2024, with 1442160 B.C. Ltd. (NumberCo), pursuant to which the company will acquire all of the issued and outstanding common shares of NumberCo from the shareholders of NumberCo (NumberCo Shareholder). Upon closing of the NumberCo Transaction, it is expected that Ann Fehr will resign as Chief Executive Officer ("CEO") of the Company and in her place James Lumley will be appointed. No other changes to the existing management or board of directors of the Company are contemplated.

James Lumley is an experienced professional in the mining and resource sectors, as well as property investment. Mr. Lumley has held various executive positions, including CEO, Business Unit Head, and Project Director. Mr. Lumley was previously the Business Unit Head of Guinea at TerraCom Resources (now TerraCom Limited), where he was responsible for managing and developing potential bauxite and iron ore projects.

Previously, he served as CEO at Anglo-African Minerals plc., RAM Resources Pty., and NAMA Resources Limited, successfully securing millions of dollars in funding and managing government relations in multiple countries. Mr. Lumley holds an MBA in finance and business studies and has completed graduate banking and financing exams. He also has a history of building strong working relationships with government bodies, investors, and financial institutions, and has successfully negotiated several major deals and memoranda of understanding throughout the African continent.