General Moly Announces That the Notice of Availability for the Mt. Hope Final Environmental Impact Statement Has Been Processed and is Scheduled for Publication in the Federal Register October 12, 2012

General
Moly, Inc. (the 'Company') (NYSE MKT: GMO) (TSX: GMO), a U.S.-based
molybdenum mineral development, exploration and mining company,
announced that the U.S. Bureau of Land Management (BLM) has completed
the Final Environmental Impact Statement (FEIS) for the Mt. Hope Project
and the Department of Interior (DOI) has processed the Notice of
Availability (NOA). The NOA is scheduled for publication in the Federal
Register on October 12, 2012.

Bruce D. Hansen, Chief Executive Officer of General Moly, said, 'We are
pleased to announce this next important step in the Mt. Hope permitting
process and appreciate the diligence of the BLM in finalizing the EIS
and processing the NOA. We continue to expect receipt of a favorable
Record of Decision (RoD) as well as completion of the remaining major
Nevada State permits by the end of 2012, and to commence construction
shortly thereafter.'

The NOA is an announcement that the Final EIS is available for public
review. The NOA process required that summary document be reviewed and
signed by four officials of the DOI. Completion of this process allows
the NOA to be published in the Federal Register. Upon NOA publication,
there is a mandatory public review period of at least 30 days after
which a RoD and Plan Approval are anticipated to be issued. Issuance of
a favorable RoD constitutes BLM approval, subject to environmental
restrictions and mitigation to be described in the RoD, to construct and
operate the Mt Hope Mine.

General Moly is a U.S.-based molybdenum mineral development, exploration
and mining company listed on the NYSE MKT (formerly the NYSE AMEX) 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 in the world. 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 Section 27A of the Securities Act, as
amended and Section 21E of the Securities Exchange Act of 1934, as
amended and are intended to be covered by the safe harbor created by
such sections. Such forward-looking statements involve a number of risks
and uncertainties that could cause actual results to differ materially
from those projected, anticipated, expected, or implied by the Company.
These risks and uncertainties include, but are not limited to, metals
price and production volatility, global economic conditions, currency
fluctuations, increased production costs and variances in ore grade or
recovery rates from those assumed in mining plans, exploration risks and
results, political, operational and project development risks, including
the Company′s ability to obtain required permits to commence production
and its ability to raise required financing, adverse governmental
regulation and judicial outcomes. The closing of the Hanlong transaction
and obtaining bank financing are subject to a number of conditions
precedent that may not be fulfilled. The bank financing and subordinated
loans are subject to final negotiation and satisfaction of conditions
precedent. For a 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-Q and 10-K, on file with the SEC.
The Company undertakes no obligation to update forward-looking
statements.

General Moly

Investors:

Scott Kozak, 303-928-8591

skozak@generalmoly.com

or

Media:

Zach
Spencer, 775-748-6059

zspencer@generalmoly.com

or

info@generalmoly.com

http://www.generalmoly.com