Moly Mines Board Changes

TORONTO, ONTARIO--(Marketwired - March 13, 2017) - Moly Mines Limited (ASX:MOL) ("Moly") is pleased to announce the appointment of Mr. Ivo Polovineo as an Independent Non-executive Director of the Company.

Mr. Polovineo has over 40 years' experience in corporate accounting, finance and company secretarial work for a diverse range of companies. He spent the past 30 years in senior management roles in the resources sector including seven years as Company Secretary (and five years as CFO) of Sino Gold Mining Limited (a former ASX 100 company) until December 2009 and played an instrumental role in that company's dual listing on the Hong Kong Stock Exchange in 2007. Mr. Polovineo was with Sino Gold for 12 years forming part of the executive team that built the company from a market capitalisation of A$100m in 2002 to its acquisition by Eldorado Gold Corporation in December 2009 for approximately $2.4 billion.

Mr. Polovineo is currently Company Secretary of Variscan Mines Limited, Lynas Corporation Ltd, Thomson Resources Ltd and Silver City Minerals Ltd and is a former Non-executive Director of ASX listed Eastern Iron Limited and Galaxy Resources Limited (including Audit Committee Chair).

Moly welcomes Mr. Polovineo as an Independent Non-executive Director of the Company and is looking forward to the expertise and guidance he will bring to the Board.

Moly also announces that Independent Non-executive Director Mr. Anthony Martin has today resigned as a Non-executive Director of the Company to pursue other business interests. The Board thanks Mr. Martin for his valuable contribution to the Board during his time as a Non-executive Director and wishes him all the very best in his future business endeavours.