TORONTO, ONTARIO--(Marketwire - March 20, 2013) - Moly Mines Limited (TSX:MOL)(ASX:MOL) advises that it is aware of media reports in China and Australia that Mr Liu Han, CEO of the Company's major shareholder Sichuan Hanlong Group (Hanlong) and a director the Company, is being detained by Chinese authorities. The Company is seeking clarification from Hanlong as to whether this event has any consequences for the Company and Mr Liu's position as a director and will advise the market further should these enquiries render any relevant information.

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Contact Information:

Moly Mines Limited
Natalie Frame
Investor Relations
+1 416 777 1801 or +1 416 371 7541

Moly Mines Limited
Martijn Bosboom
Company Secretary
+61 8 94293300

Moly Mines Limited
+1 416 777 1801