General Moly Files Universal Registration Statement to Replace Expiring Registration Statement

General Moly (NYSE Amex: GMO) (TSX: GMO) announced the filing of its
$500 million universal Registration Statement, renewing a previously
filed Registration Statement set to expire at the end of May 2011.

David A. Chaput, Chief Financial Officer, said, 'Given our current
liquidity position, the $745 million in funding anticipated to be
provided through the Hanlong transaction, and warrant proceeds
potentially forthcoming early next year, we clearly have no immediate
plans to access the capital markets. Nevertheless, maintaining an
effective shelf registration statement provides the Company with some
additional future flexibility and registers the resale of shares
anticipated to be issued through the Hanlong transaction and through
outstanding warrant exercises.'

The Registration Statement also covers the resale from time to time of
43,102,408 shares of Common Stock, including 8,256,699 outstanding
shares currently owned by ArcelorMittal, a total of 7,075,709 million
shares issuable pursuant to outstanding warrants, and approximately
27,770,000 million shares issuable under the Company's existing Stock
Purchase Agreement with Hanlong (USA) Mining Investment, Inc.
('Hanlong').

The Registration Statement has not yet been declared effective by the
Securities and Exchange Commission.

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 http://www.generalmoly.com.

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. 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 Moly

Investors

Seth Foreman, 303-928-8591

sforeman@generalmoly.com

or

Business
Development

Greg McClain, 303-928-8601

gmcclain@generalmoly.com

or

info@generalmoly.com

http://www.generalmoly.com