Moly Mines Limited

Moly Mines Limited

October 17, 2007 09:00 ET

Moly Mines Annual General Meeting

TORONTO, ONTARIO--(Marketwire - Oct. 17, 2007) - Moly Mines Limited, (TSX:MOL)(ASX:MOL) advises that its 2007 Annual General Meeting will be held at 8:30am (Perth time) on Tuesday, November 27, 2007 at the Celtic Club, 48 Ord St. West Perth, Western Australia.

The Company will also be hosting shareholders and guests at the Company's Canadian office located at: Suite 1801, 80 Richmond Street West, Toronto, Ontario at 6:30pm on Monday, November 26, 2007.

The Notice of Meeting will be distributed to shareholders shortly. Resolutions to be put to shareholders will include, among others, the re-election of directors and the issue of options to the recently appointed non-executive director Mr. Colin Agnew. Following Mr. Agnew's appointment on September 16, 2007 the Board agreed to issue, subject to shareholder approval, a total of 250,000 options to Mr. Agnew with an exercise price of A$5.00 per share. The 5 day VWAP at the time of appointment was A$4.07. 50,000 of the options will vest on December 31, 2007 and expire on December 31, 2008 and 200,000 options will vest on June 30, 2009 and expire on December 31, 2010 in line with the Company's incentive option terms for employees and other non-executive directors.

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