Moly Mines Limited

Moly Mines Limited

December 12, 2006 07:00 ET

Moly Mines Limited Appoints David Constable as a Non-Executive Director

TORONTO, ONTARIO--(CCNMatthews - Dec. 12, 2006) - I am pleased to announce that the Board of Moly Mines (TSX:MOL)(ASX:MOL) has been further strengthened by the appointment of Mr. David Constable of Toronto, Canada, as a non-executive director.

Mr. Constable brings strong marketing and technical skills to the Company at this critical time as we complete the Spinifex Ridge Molybdenum / Copper Project Feasibility Studies and advance toward financing the Project.

He brings to the Board an intimate knowledge of the Canadian and North American securities markets combined with a comprehensive understanding of the Australian mining industry. Mr. Constable served as Vice President Investor Relations for the large Australian gold mining company, Normandy Mining Limited, from its listing in Canada in 1997 until its takeover by Newmont in 2002.

Mr. Constable will oversee the Company's investor communications and marketing programs and his contribution will be vital in the lead-up to the anticipated financing and development of the Spinifex Ridge Project.

Mr. Constable is a professional geologist with more than 25 years Canadian and international exploration and development experience, including managing his own geological consulting firm for over a decade. Since 1996, Mr. Constable has provided investor relations services to international and Canadian mining companies and is currently Vice President Investor Relations and corporate secretary for TSX listed FNX Mining Corporation Inc.

Mr. Constable is a member of the Canadian Investor Relations Institute (CIRI), and holds a BSc (Hons) Geology degree and an MBA.

We look forward to Mr. Constable's contribution as we enter an exciting and challenging time in the development of the Spinifex Ridge Project.

Yours Sincerely

Paul Willis, Chairman

Contact Information

  • Moly Mines Limited
    1801-80 Richmond Street West
    Toronto, Ontario Canada M5H 2A4
    (416) 777-1801 or +61 8 9429 3300
    (416) 777-1802 (FAX)