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Press release from Business Wire

General Moly Announces Executive Appointments

<p> <i><b>Promotes External Communications Director and Hires Mt. Hope Mine Manager</b></i> </p>

Friday, September 14, 2012

General Moly Announces Executive Appointments08:30 EDT Friday, September 14, 2012 LAKEWOOD, Colo. (Business Wire) -- General Moly, Inc. (the "Company") (NYSE MKT and TSX: GMO), a U.S.-based molybdenum mineral development, exploration and mining company, announced that Michael A. Iannacchione has been appointed Vice President and General Manager of the Mt. Hope project and Patrick C. Rogers has been appointed Vice President of Permitting & Environmental Compliance. Additionally, Zach M. Spencer has been promoted to Director of External Communications and Randall D. Johnson has joined the Company as Mine Manager of the Mt. Hope project. "Today's promotions of Mike, Pat and Zach reflect our appreciation for the many contributions they have made to the Company and our confidence in the significant role they will play in the successful development of Mt. Hope," said Bruce D. Hansen, Chief Executive Officer of General Moly. "I would also like to welcome Randy to the team. Randy's extensive and diverse mining experience will be invaluable for a start-up operation, and we expect him to be a key contributor to Mt. Hope's success.” Mr. Hansen continued, "We are moving forward in the permitting process for our Mt. Hope project and continue to expect a receipt of a favorable Record of Decision (RoD) as well as completion of the remaining major Nevada State permits by the end of 2012, and to commence construction shortly thereafter. The appointments announced today reflect the success we've had in assembling a world-class team of mining professionals capable of supporting General Moly's next stage of development.” Mr. Iannacchione joined the Company in May 2011 and has been primarily responsible for building the Mt. Hope operating team, coordinating construction and start-up activities and managing local stakeholder relationships. After construction is complete, he will manage the operation of the Mt. Hope mine. Mr. Iannacchione has more than 29 years of mining experience, predominately in Nevada. This included serving as Operations Manager at Goldcorp's Marigold Mine where he managed operation and maintenance activities targeting a 55 million ton per year production rate. Prior to that, Mr. Iannacchione was Vice President and General Manager at the Round Mountain gold mine, a joint-venture between Barrick Gold Corporation and Kinross Gold Corporation. Mr. Iannacchione earned a BS in Mine Engineering from the University of Nevada, Reno, and is active in the SME. Mr. Rogers joined General Moly in 2007, and has led the Company's permitting, land management, water rights, environmental programs and compliance for the Mt. Hope and Liberty projects. He also provides corporate level communications and direction throughout local, state, and federal channels. Mr. Rogers has over 27 years of environmental, permitting and regulatory compliance experience in mining and mill operations, primarily in Nevada. Previous roles include building a successful consultancy as Elko Division Manager of JBR Environmental Consultants and serving as Environmental Manager at Newmont Mining Corporation. Mr. Rogers earned an MS and BS in Geology from the University of Idaho, and is a Certified Environmental Manager (NV) and Registered Professional Geologist (ID). Mr. Spencer has managed the Company's external communications for communities, governmental officials and non-profit organizations since 2007. He also cultivates media relations for General Moly. Mr. Spencer has more than 24 years experience in the communications field, including eight in the mining industry, mainly in Nevada. This included serving in External Communications at Newmont Mining Corporation as well as positions in print and broadcast journalism. Mr. Spencer earned a BA in Journalism from the University of Nevada, Reno and an MBA from Golden Gate University. He has also served in leadership roles on numerous boards including the Nevada Mining Association and Northwest Mining Association. Mr. Johnson has 38 years of mining industry experience in coal and hard rock mining with Santa Fe Pacific Mining, North American Coal Corporation, TXU/Luminant Mining and, most recently, with Westmoreland Coal Company. At Westmoreland Coal Company, as General Manager, Mr. Johnson managed overall operations, including production, training and maintenance functions for a 5 million ton per year, open pit, truck/shovel coal mining operation. In that role, he implemented maintenance programs to increase equipment availability, executed processes to improve production and was responsible for all aspects of drilling and blasting operations. Mr. Johnson earned a BS in Mining Engineering at the New Mexico Institute of Mining & Technology. He will report to Michael Iannacchione, Vice President and General Manager of the Mt. Hope project. 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 primary molybdenum producer in the world. 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, 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. The bank financing and subordinated loans are subject to final negotiation and satisfaction of conditions precedent. 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 MolyInvestorsScott Kozak, 303-928-8591skozak@generalmoly.comorMediaZach Spencer, 775-748-6059zspencer@generalmoly.cominfo@generalmoly.com