Water permit granted for NV mining project

General Moly, Inc. announced that the State of Nevada Division of Environmental Protection has issued a Water Pollution Control Permit for the Mt. Hope Project.

LAKEWOOD, CO, Nov. 26, 2012 -- General Moly, Inc. (NYSE MKT and TSX: GMO), a U.S.-based molybdenum mineral development, exploration and mining company, announced that the State of Nevada Division of Environmental Protection (NDEP) has issued a Water Pollution Control Permit for the Mt. Hope Project.

Bruce D. Hansen, Chief Executive Officer of General Moly, said, "We are pleased to receive the Water Pollution Control Permit from the Nevada Division of Environmental Protection and conclude the permitting process required for the construction of the Mt. Hope Project. I want to thank our team as well as our regulatory agency partners for their long hours, hard work and commitment to getting the job done right.”

Mr. Hansen continued, "We will now pivot aggressively to finalizing our project financing and initiating the construction and development of the world-class Mt. Hope Project. We are moving forward toward our goal of becoming the largest pure play primary molybdenum producer in the world."

NDEP published a Notice of Proposed Action on Oct. 1, 2012 stating their tentative decision to issue a Water Pollution Control Permit for the Mt. Hope Project. Following the 30-day public review and comment period, the hearing for the permit took place on Oct. 30, 2012.

The Water Pollution Control Permit is issued by NDEP on the basis of a site-specific permit application which must demonstrate that the proposed facility will meet Nevada regulations regarding design criteria for containment of process fluids. The permit will also approve the operational and closure plans for the Mt. Hope Mine, and establish monitoring requirements.

General Moly is a U.S.-based molybdenum mineral development, exploration and mining company listed on the NYSE MKT (formerly the NYSE AMEX) and the Toronto Stock Exchange under the symbol GMO. Our primary asset, our interest in the Mt. Hope project located in central Nevada, is considered one of the world's largest and highest grade molybdenum deposits. Combined with our second molybdenum property, the Liberty project that is also located in central Nevada, our goal is to become the largest pure play primary molybdenum producer in the world. For more information on the Company, please visit our website at http://www.generalmoly.com.

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