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Press release from Business Wire

General Moly Announces Strong Support for Mt. Hope Project

<p> <i><b>83% Support Mt. Hope Development</b></i> </p>

Wednesday, July 27, 2011

General Moly Announces Strong Support for Mt. Hope Project08:30 EDT Wednesday, July 27, 2011 LAKEWOOD, Colo. (Business Wire) -- General Moly, Inc. (the "Company") (NYSE Amex: GMO) (TSX: GMO) announced the results of an independent poll of residents in Eureka and surrounding counties commissioned by the Company showed overwhelming support for the Mt. Hope project. Bruce D. Hansen, Chief Executive Officer, said, “The results of this survey indicate that our commitment to becoming a long-term partner of the Eureka community through involvement and through open and transparent communications has helped us generate this well deserved public support for the Mt. Hope project. Based on responses from 448 households, 83% are supportive of the Mt. Hope project being developed.” Details of the survey will be discussed at an open house in Eureka at the Opera House beginning at 5:30 p.m. on August 3, 2011. The public and media are invited and encouraged to attend. The survey results will also be posted to the Company's website with this release. The poll, conducted by the respected Nevada firm Applied Analysis, contains results similar to a smaller-sample poll done in 2010. Highlights of the survey include: Importance and Support of Mining Industry: 89% of respondents are supportive of the mining industry compared to just 9% opposed with 36% of supportive respondents citing economic reasons and 34% citing job creation as reasons for their support; 58% of respondents believe that the mining industry generates the most public funds for state and local governments; and 61% of respondents believe mining is the most important industry within their community, followed by agriculture at 16%. Support / Opposition to the Mt. Hope project: 83% of respondents are supportive of the Mt. Hope project with supporters citing the addition of new, high-paying jobs, more tax revenues for local governments, and increased revenue for local businesses as reasons for their support; 82% of respondents feel that Eureka County should work cooperatively with General Moly to open the Mt. Hope Mine; and 64% of respondents that were familiar with the Mt. Hope project had a positive impression of General Moly. Water Usage Only 32% of respondents believe that the Mt. Hope mine's water use will negatively impact agricultural growers in the Diamond valley, while 44% felt that Mt. Hope would not and 24% of respondents had no opinion. Bruce D. Hansen added, "We continue to have some perception challenges with regard to the Mt. Hope project's water use and associated impacts. The professionally completed hydrology studies prepared by independent experts and approved by both the Nevada State Engineer's office and the Bureau of Land Management indicate extremely minimal impact to the agricultural users of Diamond Valley over the mine's projected 44 year life. That said, we have and will continue to work on communicating the Mt. Hope project's anticipated impacts to those with legitimate concerns and we remain committed to implementing a robust Monitoring, Management, and Mitigation Plan (3M Plan) in cooperation with Eureka County to provide further comfort that any future water impacts can be identified and mitigated." General Moly is a U.S.-based molybdenum mineral development, exploration and mining company listed on the NYSE Amex (formerly the American Stock Exchange) 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 primary molybdenum producer by the middle of the decade. For more information on the Company, please visit our website at Forward-Looking Statements Statements herein that are not historical facts are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and are intended to be covered by the safe harbor created by such sections. Such forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those projected, anticipated, expected, or implied by the Company. These risks and uncertainties include, but are not limited to, metals price and production volatility, global economic conditions, currency fluctuations, increased production costs and variances in ore grade or recovery rates from those assumed in mining plans, exploration risks and results, political, operational and project development risks, including the Company's ability to obtain required permits to commence production and its ability to raise required financing, adverse governmental regulation and judicial outcomes. The closing of the Hanlong transaction and obtaining bank financing are subject to a number of conditions precedent that may not be fulfilled. For a detailed discussion of risks and other factors that may impact these forward looking statements, please refer to the Risk Factors and other discussion contained in the Company's quarterly and annual periodic reports on Forms 10-Q and 10-K, on file with the SEC. The Company undertakes no obligation to update forward-looking statements. General MolyInvestors and Business Development:Seth Foreman, 303-928-8591sforeman@generalmoly.comorMedia:Zach Spencer, 775-748-6059zspencer@generalmoly.cominfo@generalmoly.com