Moly Mines Limited

Moly Mines Limited

December 10, 2007 18:39 ET

Webcast Alert: Moly Mines Limited at the Precious Metals and Mining Online Forum

TORONTO, ONTARIO--(Marketwire - Dec. 10, 2007) - Moly Mines Limited (TSX:MOL)(ASX:MOL) announces the following Webcast:

What: Precious Metals and Mining Online Forum

When: December 11, 2007 @ 11:30 AM Eastern


How: Live over the Internet -- Simply log on to the web
at the address above.

If you are unable to participate during the live webcast, the call will be available for replay at or

Moly Mines Limited and the Spinifex Ridge Molybdenum Project Moly Mines is a feasibility stage mining company with interests in a number of properties in Western Australia and New South Wales, Australia. The Company's principle asset is a 100% interest in the large, advanced Spinifex Ridge molybdenum- copper project located 50 km northeast of Marble Bar in the Pilbara region of Western Australia. The Spinifex Ridge project hosts a resource of 469 million tonnes containing in excess of 600 million lbs of molybdenum and 900 million lbs of copper. These resources are compliant to Canadian National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and were prepared to the Australian JORC Code standards. The project has the capacity to provide up to five percent of current annual world molybdenum demand. The bankable feasibility study for the project is examining a 15 million tonnes per annum mining and processing facility to produce up to 20 million lbs of molybdenum and more than 20 million lbs of copper annually as concentrates. The study is expected to be completed in Q2 2007. The company is aiming for project development to be completed in late 2008, early 2009. Molybdenum (as oxide) has been trading for the past 12 months in a tight range between US$24.00 and US$26.00 per pound and is currently approximately US$25.50. The Company also owns a number of molybdenum and gold exploration prospects in New South Wales, Australia, the most advanced of which is the gold prospect at Dargues Reef approximately 60km southeast of Canberra, Australia. The Company was incorporated in January 2003 and is headquartered in Perth, Australia. Moly Mines was listed on the Australian Stock Exchange ("ASX ") in March 2004 and the Toronto Stock Exchange ("TSX") in October 2006. Additional information is available on and at the Company web site at For further information: Dr. Derek Fisher - + 61 8 9429 3300.

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