Moonbound Mining Ltd. announced that, it has entered into a joint venture and shareholder agreement with Alfeus Tomas and Paulus Nghifikepunye, whereby the parties have agreed to establish a joint venture in respect of certain mining claims, on the terms and conditions set out in the JV Agreement. The JV Agreement includes seven mining claims located in Namibia, referred to as the Strathmore mining claims, which are located in the Cape Cross - Uis area Pegmatite Belt (CUPB). The CUPB stretches 115km from Cape Cross in the West to Uis in the East and can be as wide as 24km.

The JV Agreement specifies that certain cash payments and share issuances need to be completed upon achievement of specified milestones, all as set forth in the JV Agreement.