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Moly Mines Reports Executive Changes

TORONTO, ONTARIO--(Marketwired - Sep 26, 2013) - Moly Mines Limited (MOL.TO)(MOL.AX) (the "Company") advises that Mr Collis Thorp will cease employment as acting Chief Executive Officer of the Company. Due to the iron ore mine gate sale, there is no ongoing role for Mr Thorp as Chief Operating Officer and therefore Mr Thorp will cease his employment with the Company at the conclusion of the General Meeting on 28 October 2013, which has been called by Hanlong Mining Investment Pty Ltd (Hanlong) to remove the two remaining independent directors and to appoint Hanlong's nominees.

In addition, Mr John McEvoy, Chief Financial Officer and Company Secretary, will cease employment with the Company at the conclusion of the same meeting on 28 October 2013.

On behalf of all Shareholders, the Board wishes to thank both Mr Thorp and Mr McEvoy for their long service, dedication and loyalty to the Company and wishes them well in their future endeavors.

ABN 32 103 295 521