General Moly Places Initial Long Lead Equipment Orders



    LAKEWOOD, COLO., October 11 /CNW/ - General Moly (AMEX:  GMO) announced
that Letters of Award have been signed between the Company and FLSmidth
Minerals, Inc. (formerly FFE Minerals, Inc.) arranging for the supply of
approximately $36 million in crushing and grinding equipment for the Mt. Hope
molybdenum project including a gyratory crusher, a SAG mill, and two ball
mills. The companies plan to work towards a mutually agreeable Global Goods
and Services Agreement to leverage upon FLS's broad range of equipment lines.

    The mills and crusher are scheduled to be shipped to the Mt. Hope site in
the fourth quarter of 2009, coordinating with the Company's construction
schedule to meet targeted initial production in H2 2010. The Company is
required to pay approximately $3 million through the end of 2007 with the
balance to be paid in 2008 and 2009.

    Bruce D. Hansen, Chief Executive Officer, said, "Following the Board's
decision to progress the Mt. Hope project to the development stage, it was
important that we place orders to ensure on-time delivery to site in this
constrained equipment environment. FLSmidth is a world renowned mine
processing equipment supplier and we are pleased to secure Mt. Hope's simple
and proven mining technology in a timely manner."

    Development of the Mt. Hope project continues on schedule. Basic
engineering began in September of 2007; motors for the wrap-around driven SAG
mill and pinion driven ball mills are expected to be procured in late October;
orders for the mobile mine fleet are expected to begin in Q1 2008; and the
draft Environmental Impact Statement (EIS) is expected to be released in Q1
2008.

    General Moly, formerly Idaho General Mines, is a U.S.-based molybdenum
mineral development, exploration and mining company listed on the American
Stock Exchange under the symbol GMO. Our primary asset, 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 Hall-Tonopah project which 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.




For further information:

For further information: General Moly Investors: Seth Foreman,
303-928-8591 sforeman@generalmoly.com or Business Development: Greg McClain,
303-928-8601 gmcclain@generalmoly.com info@generalmoly.com
http://www.generalmoly.com

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