Moly Mines Reports Notice of Removal and Appointment of Directors

TORONTO, ONTARIO--(Marketwired - Aug. 30, 2013) - Moly Mines Limited (TSX:MOL)(ASX:MOL) (the "Company") advises that it has today received from its major shareholder, Hanlong Mining Investment Pty Ltd ("Hanlong"), a notice requisitioning a meeting of the Company's shareholders for the purpose of considering resolutions for the removal of all of the independent directors, being Messrs Michael Braham and David Craig, as well as resolutions for the appointment of Mr Bruno Camarri and on a temporary basis, Mr Peter Mansell as directors selected by Hanlong and not the Board. Hanlong owns 53.8% of the Company.

Messrs Braham and Craig have advised Hanlong and the Company that they will take steps to ensure that minority shareholders are fully informed.

The Company also reports the filing of the financial statements for the half-year ended June 30, 2013 earlier today on the ASX at www.asx.com.au and now available on SEDAR at www.sedar.com.

ABN 32 103 295 521