General Moly Provides Project Update (GMO)

General Moly GMO provided an update to the Mt. Hope project's Environmental Impact Statement progress, water rights applications, as well as a financing update. Bruce D. Hansen, Chief Executive Officer, said, “We are continuing to make good progress permitting the Mt. Hope project. We believe the Preliminary Draft Environmental Impact Statement (PDEIS) is a thorough and defensible document and look forward to working with the Bureau of Land Management (BLM) and the reviewing agencies to resolve the comments submitted. We remain extremely confident that our water applications before the State Engineer's office will be granted and support the degree of care and diligence the State Engineer's office has taken to create a complete and carefully considered record and believe the additional time for this process is helpful to the receipt of the Company's water appropriations. Lastly, Hanlong (USA) Mining Investment Inc. (Hanlong) continues to be a supportive, long-term strategic finance partner and is dedicated to the success of the Mt. Hope project. We continue to work hand-in-hand with Hanlong on the Chinese bank financing, which is progressing well.”