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Moly Mines Reports Board and Management Changes

TORONTO, ONTARIO -- (Marketwired) -- 01/17/14 -- Moly Mines Limited (TSX: MOL)(ASX: MOL) announces the appointment of Mr Doug Buerger and Ms Cathie Wu as Non-executive Directors and Ms Susan Hunter as Company Secretary following the resignation today of Mr Peter Mansell as Non-executive Director and Mr Neil Hackett as Company Secretary.

Mr Buerger specialises in exploration, geochemistry and geology with over 40 years experience in the resources industry in base metals, gold and uranium. He has extensive experience in project management, general management and executive management roles. Most recently he held the position of Managing Director and CEO of Bendigo Mining Limited. Prior to his role with Bendigo Mining Limited, Mr Buerger worked in a number of general manager and exploration manager positions within Australasia and Africa. Mr Buerger is experienced with the equity markets, having raised substantial funds on international markets for exploration and mine development. Mr Buerger holds a Bachelor of Science and a MPhil and is a Fellow of the Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of Company Directors.

Ms Wu has a strong background in business analysis and was formerly a project development manager at UBS SDIC Fund Management Company in China. She has significant experience in corporate analysis and investment in the mining industry and experience as a non-executive Director on an ASX listed company. Ms Wu holds a Bachelor of Science from Fudan University and a MPhil (Research) in Infosys from the University of New South Wales.

Ms Hunter has over 19 years' experience in the corporate finance industry. She is founder and managing director of consulting firm Hunter Corporate Pty Ltd, which specialises in provision of corporate governance and company secretarial advice to ASX listed companies, and has previously held senior management roles at Ernst & Young, PricewaterhouseCoopers and Bankwest both in Perth and Sydney. Ms Hunter holds a Bachelor of Commerce, is a Member of the Australian Institute of Chartered Accountants, a Fellow of the Financial Services Institute of Australasia, a Graduate Member of the Australian Institute of Company Directors and an Associate of the Governance Institute of Australia Ltd.

"We are delighted to welcome Doug and Cathie to the Moly Board and Susan as Company Secretary and believe their backgrounds and significant expertise will be of great benefit to the Company," said Mr Nelson Chen, Chairman of Moly.

The Board thanks Messrs Mansell and Hackett for their contribution to the Company and wishes them well in their future endeavours.

ABN 32 103 295 521

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