General Moly Announces Liberty Project Drill Hole Results Ahead of Revised Resource Estimate

General Moly

announced the results of 33 core holes that were not previously included in the Liberty project's 2008 pre-feasibility study. Bruce D. Hansen, Chief Executive Officer, said, "As part of our effort to re-start project development activities at the Liberty project this year, I am pleased to release these encouraging drill results from our second, world-class moly property. In addition to ongoing permitting achievements that we anticipate at the Mt. Hope project in the second half of the year, we are also advancing the Liberty project and anticipate releasing a revised resource estimate in the third quarter, as well as an updated pre-feasibility study early next year. Liberty is a solid project with robust economics for which we feel we receive minimal market valuation; however I am confident that we will continue to build value for our shareholders by driving both Mt. Hope and Liberty project development."