General Moly Awards Mt. Hope EPCM Contract, Continues to Add Key People to Mt. Hope...

General Moly Awards Mt. Hope EPCM Contract, Continues to Add Key People to Mt. Hope Construction Team

LAKEWOOD, Colo.--(Business Wire)--General Moly, Inc. (AMEX:GMO) announced that the Company and M3
Engineering & Technology Corporation (M3) have entered into a
contractual agreement for the engineering, procurement and
construction management (EPCM) of the Mt. Hope molybdenum project. M3
completed the Company's Bankable Feasibility Study of Mt. Hope in
August 2007, and has subsequently continued to advance engineering of
the project pending this EPCM agreement. M3 Engineering & Technology
Corporation is a full-service international engineering firm offering
EPCM services to the minerals industry with offices in Tucson,
Arizona; Chandler, Arizona; Hermosillo, Sonora, Mexico; and Concepcion
del Oro, Zacatecas, Mexico. M3 was formed in 1986 and currently has a
staff of over 400 employees. In the past five years, M3 has engineered
and managed over $2.0 billion in mining projects, including those
ongoing.

General Moly has continued to acquire specialized talent for the
Mt. Hope project team. Richard W. Rice joined the project team late in
2007 as the Engineering Manager. Mr. Rice was responsible for over $3
billion of projects in his 32-year career with Phelps Dodge as Vice
President of Engineering. Supporting Richard in project management and
design is Jesus Figueroa, Process and Mechanical Manager, who recently
retired from Freeport McMoran after 32 years of service, including 22
years at Freeport's Sierrita and Bagdad mines, two large copper/moly
operations in Arizona. Jesus brings a specialized background in
maintenance, roaster operations, and process design.

Further additions to the Mt. Hope team include: George Grunerud,
Maintenance Layout Coordinator, who brings over 33 years of
mill-specific maintenance and design experience; Pete Chen, consulting
Pyro-Metallurgist, who has over 40 years of industry experience and
will provide oversight for the gas handling system in the roasters;
Jack London and Joe Barton, Electrical Design Coordinators, who bring
a combined 70 years of experience in electrical design and
maintenance; and Tommy Wessel, Project Controls Manager, a former M3
employee who has specialized experience in instrumentation and
controls.

In addition to the continued development of the Mt. Hope project
team, Art Ibrado, PhD, recently joined the Company as Chief
Metallurgist from Newmont Mining Corporation. Manfred Daut, an
experienced project manager and civil engineer, will continue to
oversee all aspects of the project site and housing development, while
Jeff Samuels, Mining Manager, who joined the Company in mid-2007, will
oversee mining equipment selection, mine planning, and mining-related
processes and systems.

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 Mount 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.

Forward-Looking Statements

Statements herein that are not historical facts, are
"forward-looking statements" within the meaning of the Private
Securities Litigation Reform Act of 1995, and involve a number of
risks and uncertainties that could cause actual results to differ
materially from those projected, anticipated, expected or implied.
These risks and uncertainties include, but are not limited to, the
Company's ability to obtain required permits to commence production
and its ability raise required financing, metals price and production
volatility, exploration risks and results, project development risks,
including, without limitation, uncertainties involved in the
interpretation of results and other tests. For a more detailed
discussion of risks and other factors that may impact these forward
looking statements please refer to the Risk Factors and other
discussion contained in the Company's quarterly and annual periodic
reports on Forms 10-QSB and 10-KSB, as the same are amended from time
to time, on file with the SEC. The Company undertakes no obligation to
update forward-looking statements.

General Moly, Inc.
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

Copyright Business Wire 2008