General Moly Initiates Preliminary Construction Activities at Mt. Hope

General
Moly, Inc. (the 'Company') (NYSE MKT: GMO) (TSX: GMO), a U.S.-based
molybdenum mineral development, exploration and mining company,
announced through its 80% owned Mt. Hope subsidiary, Eureka Moly, LLC,
the initiation of preliminary construction activities including early
well field development and clearing and grubbing of terrain that
coincide with the Company′s ongoing cultural clearance efforts at its
Mt. Hope Project in Eureka County, Nevada. A crew from Ames
Construction, Inc. has been mobilized, and is initially focused on
clearing the administrative office and mill site areas as well as
clearing the water pipeline corridor in preparation for developing the
well field and water distribution system to support heavy construction
activities.

Bruce D. Hansen, Chief Executive Officer of General Moly, said, 'We are
pleased to start preliminary construction activities at Mt. Hope as we
prepare for heavy construction in the spring. Our work plan emphasizes
careful cost management, a timeline of continuous construction and close
collaboration with all of our stakeholders to develop Mt. Hope in an
environmentally and socially responsible manner.?

Bob Pennington, Chief Operating Officer of General Moly, said, 'At this
early stage, developing a robust infrastructure of communications, water
management and office space is essential, and we expect to make rapid
progress in each of these areas. In addition, we are moving forward on
health and safety measures including our recent contracting for an
onsite emergency response provider. We are also pursuing environmental
priorities such as salvaging topsoil for use in reclamation and
maximizing utilization of natural resources by supplying local
communities with firewood from the trees we are harvesting during the
clearing process.?

Mr. Pennington added, 'We believe the Mt. Hope Project will become an
important contributor to economic development and job opportunities in
Northern Nevada for decades to come and have been gratified by the
support we are receiving from the state and local community. Recently, a
ceremony to bless the ground and the project was performed by the tribal
elders and spiritual leaders of the Duckwater Shoshone Tribe.?

Ames Construction, Inc. has been contracted for civil construction at
Mt. Hope including clearing and grubbing, well field development,
grading, structural concrete, underground piping, tailings dam
construction, pre-stripping and waste rock disposal construction and
will be onsite until the conclusion of the process. A full-service,
heavy civil and industrial general contractor, Ames has extensive
experience throughout the Western United States having completed
numerous mine facility construction projects for clients including Rio
Tinto plc, Barrick Gold Corporation and Newmont Mining Corporation.
Recent work in Nevada includes development of Newmont′s Phoenix Copper
Leach Pad, Barrick Cortez Tailings Raise and Cell 4 Tailings Facility
Construction and the raising of Barrick Goldstrike Mines′ North Block
Tailings Dam.

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 pure play primary molybdenum producer in the world. 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. 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 Moly

Investors:

Scott Kozak, 303-928-8591

skozak@generalmoly.com

or

Media:

Zach
Spencer, 775-748-6059

zspencer@generalmoly.com

or

info@generalmoly.com

http://www.generalmoly.com