Project Development To Re-Start At Liberty 

LAKEWOOD, CO - General Moly reported the results of 33 core holes that were not previously included in the Liberty project's 2008 pre-feasibility study.

Bruce D. Hansen, Chief Executive Officer, said, "As part of our effort to re-start project development activities at the Liberty project in Nye County, Nevada this year, I am pleased to release these encouraging drill results from our second, world-class moly property. In addition to ongoing permitting achievements that we anticipate at the Mt. Hope project in the second half of the year, we are also advancing the Liberty project and anticipate releasing a revised resource estimate in the third quarter, as well as an updated pre-feasibility study early next year. Liberty is a solid project with robust economics for which we feel we receive minimal market valuation; however I am confident that we will continue to build value for our shareholders by driving both Mt. Hope and Liberty project development."

Highlights of the 33 holes include 19 holes that had at least one moly mineralization interval of greater than 200 feet and in excess of 0.100% moly contained in sulfide mineralization. These long, high-grade intervals range in length from 240 feet to 1,239 feet and range in grade from 0.1049% to 0.2419% moly contained in sulfide mineralization These 33 holes were principally focused on demonstrating in-fill continuity, increasing metallurgical understanding and examining ore body extensions to the east and at depth.These holes augment a pre-existing database containing information from 716 holes previously drilled by Anaconda, Cyprus Minerals, Equatorial, and General Moly.This drilling information, combined with updated modeling parameters, will form the basis for a revised Liberty NI 43-101 compliant resource estimate, which is anticipated to be completed in the third quarter of the year. The revised resource estimate will be utilized in an updated pre-feasibility study that is anticipated to be completed in the first quarter of 2012. The prior 2008 NI 43-101 compliant pre-feasibility study indicated 433 million minable tons at grades of 0.068% moly contained in sulfide mineralization and 0.070% total copper, resulting in 589M pounds of moly contained in sulfide mineralization and 606M pounds of total copper contained in the proven and probable category. The company's address is 1726 Cole Blvd., Suite 115, Lakewood, CO 80401, email: [email protected].