Moly Mines Reports Filing of Notice of Meeting-Removal and Appointment of Directors

TORONTO, ONTARIO--(Marketwired - Sept. 19, 2013) - Moly Mines Limited (ASX:MOL)(TSX:MOL); (the "Company") advises that it has today filed on the ASX at www.asx.com.au and on SEDAR at www.sedar.com their Notice of Meeting, Information Circular and associated statement from the current independent Directors of the Company to be dispatched to Shareholders in relation to the General Meeting requisitioned by Hanlong Mining Investment Pty Ltd ("Hanlong").

The Company has drawn Hanlong's attention to the Toronto Stock Exchange's (TSX) requirement that the Company must have two independent directors on the Board.

Hanlong responded on 17th September 2013 to the Company as follows:

"Hanlong currently intends to complete this process [of interviewing and identifying appropriately qualified independent directors] prior to the General Meeting and to appoint two independent directors to the Moly board on the day that the General Meeting is held or very shortly afterwards. To this end, Hanlong would be willing to provide Moly with a letter to this effect which Moly would be able to provide to TSX in seeking relief from TSX for any potential temporary non-compliance with this obligation. We note that TSX may consider providing relief to Moly to be appropriate in light of the fact that this is not a requirement under the Australian Securities Exchange ("ASX"), being Moly's primary listing, and that most of the trading, by volume, of Moly shares is on ASX."

The General Meeting is to be held October 28, 2013 at 3:00pm (Western Australia Time) at the Celtic Club, 43 Ord St. West Perth, Western Australia.

ABN 32 103 295 521