Moly Mines Reports Quarter Highlights

TORONTO, ONTARIO--(Marketwired - Jan. 29, 2015) - Moly Mines Limited (ASX:MOL) reports the highlights of their Quarterly Activities Report and Quarterly Cashflow Report for the period ending December 31, 2014, available on the Company website (www.molymines.com) and on SEDAR (www.sedar.com).

HIGHLIGHTS (all amounts are in A$ unless otherwise stated)

Operations (unaudited):

• MRL ceased mining operations at Spinifex Ridge during the December Quarter. 183,784 tonnes of iron ore was hauled from the site.
  
  

• MOL has resumed operational control of the Spinifex Ridge site following the completion of MRL controlled activities.
  
  

• The Spinifex Ridge Molybdenum/Copper Project remains on care and maintenance.
  
  

Corporate and Finance (unaudited):

• Cash on hand at end of Quarter was $70.4M, down from $70.6M at end of previous Quarter.
  
  

• No decision has been made on the MOL application for a decision that the Company cease to be a reporting issuer in Canada.
  
  

Exploration:

• No exploration activity was undertaken during the Quarter.

ABN 32 103 295 521