News Column

Moly Mines Provides Update in Respect of Media Reports

Apr 9 2013 12:00AM

Marketwire

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TORONTO, ONTARIO -- (Marketwired) -- 04/09/13 -- Moly Mines Limited (TSX: MOL)(ASX: MOL) refers to a report in today's West Australian that its majority shareholder Hanlong Mining Investments Pty Ltd (Hanlong) is to remove the Company's independent directors and advises as follows.

Hanlong and the Board are in discussions in relation to the future structure and composition of the Board. The Company will advise the market further once those discussions have concluded.

The Company also notes the report in today's Australian Financial Review that China EXIM Bank may have repossessed Hanlong's shareholding in the Company. The Company advises that it has sought clarification from Hanlong which has confirmed that no such action has been taken by China EXIM Bank.

ABN 32 103 295 521



Contacts:
Moly Mines Limited
Natalie Frame
Investor Relations
+1 416 777 1801 or +1 416 371 7541
info@molymines.com

Moly Mines Limited
Martijn Bosboom
Company Secretary
+61 8 94293300
www.molymines.com





Source: Marketwire