SYS-CON MEDIA Authors: Yeshim Deniz, Doug Masi, Mat Mathews, Newswire, David Smith

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Moly Mines Responds to Media Speculation

TORONTO, ONTARIO -- (Marketwired) -- 04/02/14 -- Moly Mines Limited (ASX: MOL)(TSX: MOL) refers to the newspaper article that appeared today in the West Australian regarding the future domicile of the Company and the position of its Australian staff.

We confirm that the Company has no intention of re-domiciling to Canada.

The Company is currently evaluating its cost and management structure with a view to reducing overhead costs and establishing a management structure which is more suitable to the Company's current position. As part of this process, senior executive positions are under review. The review is expected to be finalized within the next week and an announcement will be made when a final decision has been reached.

ABN 32 103 295 521

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