General Moly Announces Amendment to Hanlong Agreement

General Moly, Inc. GMO announced amendments to the Securities Purchase Agreement and the Bridge Loan Agreement between the Company and Hanlong Mining Investment Inc. that provide for greater flexibility with respect to Mt. Hope permit receipt and Chinese bank approval timelines. The amendment modifies a number of provisions contained within the agreements originally signed in March 2010, including: * Bridge Loan Maturity. Extends the maturity of the Bridge Loan from March 31, 2012 to the earliest of 270 days after the effectiveness of the Record of Decision, the bank loan availability or December 31, 2012. * Elimination of Draft Environmental Impact Statement publication deadline. DEIS deadline had been August 31, 2011. * ROD deadline. Extension of ROD deadline from November 30, 2011 to the earlier of nine months following DEIS publication or September 30, 2012. The ROD deadline remains extendable by up to three months to December 31, 2012 for fees described in the Securities Agreement. * Bank loan availability. Extends Hanlong's commitment to deliver the bank loan from two months following ROD to nine months following ROD.