Moly Mines Announces TSX Delisting Review

TORONTO, ONTARIO--(Marketwired - May 6, 2014) - Moly Mines Ltd. (TSX:MOL)(ASX:MOL) ("The Company") announces that is has been advised by the Toronto Stock Exchange (the "TSX") that the TSX is reviewing the common shares of the Company with respect to meeting the continued listing requirements.

In particular, the review has been initiated by the TSX on the basis of section 710(a)(iii) of the TSX Company Manual, which allows a delisting to occur if an issuer has discontinued or divested a substantial portion of its operations. The Company has been granted 30 days in which to regain compliance with these requirements pursuant to the TSX's Remedial Review Process. If the Company does not regain compliance by 5 June 2014, the Company's securities will be delisted from the TSX 30 days from that date.

The Company will continue to be listed on the ASX, although as advised in the ASX announcement of 9 April 2014 ('Anticipated Suspension From Official Quotation'), MOL securities have been suspended from quotation on the ASX (effective 22 April 2014), and will remain suspended until the Company is able to recommence operations of a level adequate to again justify quotation of MOL securities in the future.

As previously announced, the Company will continue to evaluate suitable investment opportunities and will inform the market of any material developments as they occur.

ABN 32 103 295 521