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Press release from Filing Services Canada

Molycorp Issues Statement Regarding SEC Investigation

Friday, November 09, 2012

Molycorp Issues Statement Regarding SEC Investigation23:27 EST Friday, November 09, 2012FSC / Press ReleaseMolycorp Issues Statement Regarding SEC InvestigationGreenwood Village, Colo., November 09, 2012 /FSC/ - In response to inquiries from investors and the news media, Molycorp, Inc. (NYSE: MCP) (?Molycorp? or the ?Company?)today issued the following statement regarding the Company's disclosure in its third quarter 2012 Form 10-Q with the U.S. Securities and Exchange Commission (SEC):On August 28, 2012, the staff of the SEC requested information from the Company; subsequently, the Company learned that this request for information was in connection with a formal order of investigation pertaining to, among other things, the accuracy of the Company's public disclosures. We are cooperating with the SEC staff and are in regular communication with them on this matter. As a public company, Molycorp maintains disclosure controls and procedures, as well as internal controls, and has extensive processes with respect to the documents it files with the SEC. As noted in the Company's third quarter 2012 10-Q, the Company cannot predict the length, scope, or results of the matter or the impact, if any, on the Company's results of operations. # # #FOR MORE INFORMATION:Jim Sims, +1 (303) 843-8062 Vice President, Corporate CommunicationsJim.Sims@Molycorp.comBrian Blackman, + 1 (303) 843-8067 Senior Manager, Investor RelationsBrian.Blackman@molycorp.comABOUT MOLYCORPMolycorp is a leading rare earths and rare metals company, and combines a world-class rare earth resource at Mountain Pass, California, with world-class ultra-high-purity rare earth and rare metal materials processing capabilities. With 26 locations across 11 countries, Molycorp is vertically integrated across the global rare earth mine-to-magnetics supply chain. It produces rare earth magnetic materials as well as a variety of high-purity, custom engineered products from 13 different rare earths (lights and heavies) as well as five rare metals (gallium, indium, rhenium, tantalum and niobium), and the transition metals yttrium and zirconium. Through its Molycorp Magnequench subsidiary, the Company is a leading global producer of neodymium-iron-boron (NdFeB) magnet powders, used to manufacture bonded NdFeB permanent rare earth magnets. Through its joint venture with Daido Steel and Mitsubishi Corporation, Molycorp expects to begin manufacturing next-generation, sintered NdFeB permanent rare earth magnets in early 2013. For more information please visit view this press release as a webpage, please click on the following link: News Dissemination by FSCwire.