Moly Mines Announces TSX Delisting

TORONTO, ONTARIO--(Marketwired - Jun 5, 2014) - Moly Mines Ltd. (ASX:MOL)(TSX:MOL) ("The Company") announces that it has been advised by the Toronto Stock Exchange (the "TSX") that the Company's common shares will be delisted from the TSX at the close of business on July 4, 2014.

As previously reported on May 5, 2014 the TSX advised that the Company appeared to have ceased to be actively engaged in any ongoing business in accordance with section 710(a)(iii) of the TSX Company Manual. The Company was granted 30 days in which to regain compliance with these requirements pursuant to the Remedial Review Process. The Company has not regained compliance within this timeframe, and as such has been provided with the 30 day delisting notice.

As a part of ongoing cost savings initiatives, the Company will not seek to list on an alternative board in Canada. The Company will continue to abide by TSX regulations until the delisting is final and will remain a reporting issuer in Canada until further notice.

The Company will continue to be listed on the ASX although, as advised in the ASX announcement of April 9, 2014 ('Anticipated Suspension From Official Quotation'), MOL securities have been suspended from quotation on the ASX (effective April 22, 2014), and will remain suspended until the Company is able to recommence operations at a level adequate to again justify quotation of MOL securities.

Implications for holders on the Canadian register

As a consequence of the delisting of MOL shares, the Canadian shareholder register (the "Canadian register") will be closed on August 29, 2014.

For CDS participants, or if your shares are held by your broker, the CDSI participant/broker can request to have the shares transferred to the Australian shareholder register (the "Australian register") by submitting a removal request using Computershare's web based cross-border xSettle service.

Registered shareholders on the Canadian register can request to have their shares transferred to the Australian register by instructing Computershare to initiate the transfer by completing a "Register Removal Request" form and submit the form together with their original share certificate(s).

A "Register Removal Request" form can be downloaded from the Global Transaction section on the Computershare website, by visiting https://www-us.computershare.com/Investor/help/PrintableForms or on the Company's website at www.molymines.com

If a shareholder or a CDS participant on the Canadian register does not move their shares to the Australian register by the close of business on August 29, 2014, then their shares will be automatically moved to an issuer sponsored holding on the Australian register, and an issuer sponsored statement will be dispatched to the registered address.

Questions regarding the register removal process can be directed to Computershare's Global Transaction Team on +1 866 277 2086 (toll free within North America) or +1 781 575 4086.

As previously announced, the Company will continue to evaluate suitable investment opportunities and will inform the market of any material developments as they occur.

ABN 32 103 295 521