General Moly Announces Water Rights Approval for Mt. Hope Project

General Moly, Inc.

announced that the Company, through a subsidiary, received approval of its water applications for the Mt. Hope mine. On July 15th, 2011, the Nevada State Engineer issued ruling 6127 granting the Company's water right applications for the use of 11,300 acre-feet annually (afa) of water for mining purposes, which will facilitate the pumping of approximately 7,000 gallons per minute. The specific water right permits are anticipated to be issued following payment of statutory fees, and, following the State Engineer's approval of a Monitoring, Management, and Mitigation Plan, (3M Plan), prepared in cooperation with Eureka County, the water will be available for consumptive use.