EUREKA MOLY AND MT.
HOPE MINES ANNOUNCE THE CREATION OF THE HAROLD L. DRIMMER - MT. HOPE
EDUCATIONAL FOUNDATION
EUREKA, NEVADA - February 11, 2009, Eureka Moly LLC, a Joint Venture between General Moly, Inc. (NYSE Alternext and
TSX: GMO) and POS-Minerals Canada, together with Stephen Drimmer,
the President of Mt. Hope Mines, Inc., announced the creation of the Harold L. Drimmer - Mt. Hope Educational Foundation to benefit
students of Eureka County. The Foundation, which is anticipated to be
ultimately funded with $1,000,000 in contributions from Mt. Hope Mines, Inc.
and Eureka Moly, LLC, was announced at the Eureka
Opera House, during a Mt. Hope Project open house.
The Foundation was formed
to honor the memory of Harold L. Drimmer,
who originally staked mining claims at the Mt. Hope site. Harold Drimmer worked as an attorney, real estate developer, book
printer and publisher, and school bus manufacturing executive in addition to
having been a molybdenum entrepreneur. He was a well educated man and
received degrees from Harvard University and Columbia Law School. His
philanthropic efforts were numerous, including a focus on education, by having
served as a Chairman and Board member of the Westchester Community College for
27 years and as a member of the Board of Overseers of the Harvard University
Graduate School of Education.
Stephen Drimmer
said, "My Dad was always a very philanthropic person wanting to give back
to the communities to which he was connected. His links to Eureka County began
in 1968 and have been uninterrupted for 40 years. Before he passed away, we
discussed the creation of an educational foundation to benefit Eureka County
students. I do believe that what we are doing here is true to his belief in
expanding educational opportunities for worthy students, especially in a
community about which he cared deeply. It gives our family great pleasure to be
able to share our financial blessings with the youth of Eureka in a manner in
keeping with my father's legacy."
The purpose of the
Foundation is to assist students of Eureka County in their scholastic
efforts. There are four Board members of the Foundation including
Jonathan Drimmer of Mt. Hope Mines, Inc., Tim Arnold,
General Manager of the Mt. Hope Project, Pete Goicoechea,
State Assemblyman for District 35, and Robert Dyer,
Eureka County resident and volunteer. The board will focus on assisting
Eureka County students in areas not covered by other existing programs. In
addition to traditional scholarships, the Foundation will also focus on
vocational assistance, advanced placement classes, awards for individual
achievement in scholastic areas and even attendance. It is hoped that the
Foundation can be a force of good for many students in the future.
To date, both the Drimmer family and Eureka Moly
have contributed $100,000 each to the Foundation. Both parties expect to
continue this level of funding annually for four years commencing once the Mt.
Hope Mine begins production. Eventually, it is anticipated that the
Harold L. Drimmer - Mt. Hope Educational Foundation
will become self-sustaining from investments so that it will continue to
provide benefits to the Eureka community long after the Mt. Hope Mine is in
production.
Bruce Hansen, CEO of
General Moly, said, "Stephen Drimmer
initiated the concept for the Foundation and we are very pleased that he
did. It provides us with another opportunity to become part of the Eureka
community and to support future generations in their educational
pursuits."
* * * *
General Moly
is a U.S.-based molybdenum mineral development, exploration and mining company
listed on the NYSE Alternext (formerly the American
Stock Exchange) and the Toronto Stock Exchange under the symbol GMO. Our
primary asset, our interest in the Mt. Hope project located in central
Nevada, is considered one of the world's largest and highest grade molybdenum
deposits. General Moly, through Eureka Moly, leases the Mt. Hope project from Mt. Hope Mines
Inc. Combined with General Moly's second
molybdenum property, the Liberty project that is also located in central
Nevada, our goal is to become the largest primary molybdenum producer by the
middle of the next decade. For more information on the Company, please visit
our website at http://www.generalmoly.com.
Mt. Hope Mines is a
privately held company whose shareholders are all part of Harold Drimmer's immediate family.
Contact Information
- General Moly:
Investors - Seth
Foreman
(303) 928-8591
sforeman AT generalmoly.com
Business Development - Greg
McClain
(303) 928-8601
gmcclain AT generalmoly.com
Website: http://www.generalmoly.com
info AT generalmoly.com
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This message was sent from Seth Foreman.
It was sent from: General Moly, General Moly 1726 Cole Blvd, Suite 115, Lakewood, CO 80401.
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