GENERAL MOLY ANNOUNCES COMPLETION OF PRELIMINARY DRAFT ENVIRONMENTAL
IMPACT STATEMENT
LAKEWOOD, COLORADO � August 19, 2010, General Moly (NYSE
Amex and TSX: GMO) announced that on Friday, August 13, the Bureau of Land
Management�s (BLM) contractor completed the Preliminary Draft Environmental
Impact Statement (PDEIS), which was delivered to the cooperating agencies on
Wednesday, August 18. Cooperating agencies, including the County of
Eureka, the National Park Service, and the Nevada Division of Wildlife (NDOW)
will have 25 business days to review the PDEIS and to provide comments to the
BLM, which will form the basis of the Draft Environmental Impact Statement
(DEIS).
Bruce D. Hansen, Chief Executive Officer, said, �This is a significant
milestone for our project. It marks the completion of four years of studying
the environmental, social, and cultural impacts of the Mt. Hope project and
signifies that the BLM is comfortable that the completed baseline reports form
the basis for a comprehensive and defensible document. We will continue
work with the BLM and the other agencies involved to drive the permitting
process in a prudent but expeditious manner.�
The 25 business day review period will close September 23, after which the
BLM will determine what changes, if any, are needed in the PDEIS before moving
forward with publication of the DEIS. The Company continues to anticipate
publication of the DEIS later this year and receipt of its Record of Decision
by mid-2011.
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Eureka Moly
LLC is the owner and operator of the Mt. Hope molybdenum project in Eureka,
Nevada. Eureka Moly is 80% owned by General Moly and 20% owned by POSCO,
a large Korean steel producer. General Moly is a U.S.-based molybdenum
mineral development, exploration and mining company listed on the NYSE Amex
(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. Combined with our 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 decade. For more
information on the Company, please visit our website at http://www.generalmoly.com.
Contact Information � General Moly:
Investors � Seth
Foreman
(303) 928-8591
sforeman@generalmoly.com
Business Development � Greg
McClain
(303)
928-8601
gmcclain@generalmoly.com