Moly Mines Stand Number: J 8

ASX/TSX:MOL

Moly Mines is an ASX and TSX listed resource company mining Iron Ore in Western Australia, as well as focused on developing our world class Spinifex Ridge Molybdenum project – 170km east of Port Hedland.

The Spinifex Ridge Molybdenum project is ready for immediate construction pending the completion of financing. All environmental approvals have been received and over A$120 million of long lead items of plant have been constructed and delivered to Perth. A smaller 10 million tonne per annum start up mining and processing operation will be implemented for the initial development that will produce on average 11 million lbs of molybdenum in concentrate and 13.5 million lbs of copper in concentrate per annum for the first 10 years.

The Company also has an Iron Ore project which commenced production in late 2010. The project’s expected annual production rate is 800,000-1 million tonnes per annum from deposits located on the same tenements as the Spinifex Ridge Molybdenum Project.

On 23 April 2010 Moly Mines welcomed Hanlong as the Company’s controlling shareholder (55%) following the settlement of the US$200 million equity and debt funding package.