Moly Mines Limited
TSX : MOL
ASX : MOL

Moly Mines Limited

April 16, 2009 09:30 ET

Moly Mines Appoints TCW Representative to the Board

TORONTO, ONTARIO--(Marketwire - April 16, 2009) -

NOT FOR DISTRIBUTION TO US NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Moly Mines Limited, (TSX:MOL)(ASX:MOL) is pleased to confirm the appointment of Mr Kurt Talbot to the Company's Board.

The Company has previously foreshadowed the appointment of Mr Talbot to the Board pursuant to nominee rights granted in the loan documentation with the Trust Company of the West ("TCW") for the US$150 million Interim Financing Facility completed late 2008.

Mr. Talbot is Managing Director and Chief Investment Officer for TCW's Energy & Infrastructure Group ("TCW EIG"). TCW EIG manages a series of investment funds focused on global energy and infrastructure on behalf of institutional clients. Mr. Talbot began his career with Trafalgar House Oil and Gas where he held positions of Senior Engineer and Commercial Analyst based in Houston and London, respectively. He spent two years employed by Goldman Sachs as Head of E&P Capital. Mr. Talbot holds a B.S. degree in Petroleum Engineering from Louisiana State University, and an MBA from Texas A&M University. Mr. Talbot is a registered professional engineer in the state of Texas.

These press materials do not constitute an offer of securities for sale in the United States. Securities may not be offered or sold in the United States absent registration or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that will contain detailed information about the company and management, as well as financial statements.

THESE PRESS MATERIALS ARE NOT FOR RELEASE IN THE UNITED STATES.

This news release includes "forward-looking statements" as that term within the meaning of securities laws of applicable jurisdictions. Forward-looking statements involve known and unknown risks, uncertainties and other factors that are in some cases beyond Moly Mines' control. These forward-looking statements include, but are not limited to, all statements other than statements of historical facts contained in this news release, including, without limitation, those regarding Moly Mines' future expectations. Readers can identify forward-looking statements by terminology such as "aim," "anticipate," "assume," "believe," "continue," "could," "estimate," "expect," "forecast," "intend," "may," "plan," "potential," "predict," "project," "risk," "should," "will" or "would" and other similar expressions. Risks, uncertainties and other factors may cause Moly Mines' actual results, performance, production or achievements to differ materially from those expressed or implied by the forward-looking statements (and from past results, performance or achievements). These factors include the failure to complete and commission the mine facilities, processing plant and related infrastructure in the time frame and within estimated costs currently planned; variations in global demand and price for molybdenum and copper; fluctuations in exchange rates between the U.S. dollar and the Australian dollar; failure to recover the resource and reserve estimates of the Project; the failure of Moly Mines' suppliers and service providers to fulfill their obligations under construction, supply and tolling agreements; unforeseen geological, physical or meteorological conditions, natural disasters or cyclones; changes in the regulatory environment, industrial disputes, labor shortages, political and other factors; the inability to obtain additional financing, if required, on commercially suitable terms; and global and regional economic conditions. Readers are cautioned not to place undue reliance on forward-looking statements. We assume no obligation to update such information.

Contact Information

  • Moly Mines Limited
    Derek Fisher
    Managing Director
    +61 8 94293300
    or
    Moly Mines Limited
    Natalie Frame
    Investor Relations Coordinator
    416-777-1801
    www.molymines.com