General Moly Appoints Michael A. Iannacchione as General Manager of Mt. Hope
General Moly, Inc. (NYSE Amex: GMO)(TSX: GMO) announced the appointment
of Michael A. Iannacchione as General Manager of the Mt. Hope project.
Mr. Iannacchione will be primarily responsible for building the Mt. Hope
operating team, coordinating construction and start-up activities,
managing local stakeholder relationships, and ultimately managing the
operation of the Mt. Hope mine. His employment will begin May 23, 2011.
Mike joins the Company with 28 years of mining experience, predominately
in Nevada. Most recently, Mike served as Operations Manager at
Goldcorp's Marigold Mine near Battle Mountain, Nevada. In that role,
Mike managed operation and maintenance activities targeting a 55 million
ton per year production rate. Prior to that, Mike was Vice President and
General Manager at the Round Mountain gold mine located in Round
Mountain, Nevada, a joint-venture between Barrick Gold Corporation and
Kinross Gold Corporation. Mike's other Nevada experience includes
serving as Mine Superintendent at the Atlas Gold Bar Mine in Eureka,
Nevada, as Mine Manager at the Robinson Mine in Ely, Nevada, and as Mine
Engineer and Mine Shift Foreman at the Bald Mountain mine in Ely, Nevada.
Mike has a B.S. in Mine Engineering from the University of Nevada Reno
as well as a substantial amount of safety, leadership, communication and
crisis management training. Mike is active in the Society of Mining
Engineers of AIME and is an inactive Professional Engineer in Nevada.
Bruce D. Hansen, Chief Executive Officer, said, 'I am extremely pleased
to have Mike join the General Moly team. His substantial experience in
the mining industry, including startup operations, will be a great asset
to our team as we finish permitting and construct the Mt. Hope project.
Additionally, his substantial local relationships will help us continue
to build positive stakeholder relationships in the Eureka community. I
am confident that Mike will be able to build a world-class team at Mt.
Hope and transition Mt. Hope into a world-class operation.'
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
Media:
Zach
Spencer, 775-748-6059
zspencer@generalmoly.com
or
http://www.generalmoly.com
info@generalmoly.com