GENERAL MOLY ANNOUNCES STRONG SUPPORT FOR MT. HOPE PROJECT

83% Support Mt. Hope Development

LAKEWOOD, COLORADO – July 27, 2011, General Moly, Inc. (the "Company") (NYSE Amex and TSX: GMO) announced the results of an independent poll of residents in Eureka and surrounding counties commissioned by the Company showed  overwhelming support for the Mt. Hope project. 

Bruce D. Hansen, Chief Executive Officer, said, “The results of this survey indicate that our commitment to becoming a long-term partner of the Eureka community through involvement and through open and transparent communications has helped us generate this well deserved public support for the Mt. Hope project.  Based on responses from 448 households, 83% are supportive of the Mt. Hope project being developed.”

Details of the survey will be discussed at an open house in Eureka at the Opera House beginning at 5:30pm on August 3, 2011.  The public and media are invited and encouraged to attend.  The survey results will also be posted to the Company’s website with this release.  The poll, conducted by the respected Nevada firm Applied Analysis, contains results similar to a smaller-sample poll done in 2010.  Highlights of the survey include:

Importance and Support of Mining Industry:

·         89% of respondents are supportive of the mining industry compared to just 9% opposed with 36% of supportive respondents citing economic reasons and 34% citing job creation as reasons for their support;

·         58% of respondents believe that the mining industry generates the most public funds for state and local governments; and

·         61% of respondents believe mining is the most important industry within their community, followed by agriculture at 16%.

Support / Opposition to the Mt. Hope project:

·         83% of respondents are supportive of the Mt. Hope project with supporters citing the addition of new, high-paying jobs, more tax revenues for local governments, and increased revenue for local businesses as reasons for their support;

·         82% of respondents feel that Eureka County should work cooperatively with General Moly to open the Mt. Hope Mine; and

·         64% of respondents that were familiar with the Mt. Hope project had a positive impression of General Moly.

Water Usage

·         Only 32% of respondents believe that the Mt. Hope mine’s water use will negatively impact agricultural growers in the Diamond valley, while 44% felt that Mt. Hope would not and 24% of respondents had no opinion.

Bruce D. Hansen added, "We continue to have some perception challenges with regard to the Mt. Hope project's water use and associated impacts.  The professionally completed hydrology studies prepared by independent experts and approved by both the Nevada State Engineer's office and the Bureau of Land Management indicate extremely minimal impact to the agricultural users of Diamond Valley over the mine's projected 44 year life.  That said, we have and will continue to work on communicating the Mt. Hope project's anticipated impacts to those with legitimate concerns and we remain committed to implementing a robust Monitoring, Management, and Mitigation Plan (3M Plan) in cooperation with Eureka County to provide further comfort that any future water impacts can be identified and mitigated."

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General Moly is a U.S.-based molybdenum mineral development, exploration and mining company listed on the NYSE Amex (formerly the American Stock Exchange) 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 by the middle of the decade. For more information on the Company, please visit our website at http://www.generalmoly.com.

Contact Information – General Moly:

Investors and Business Development - Seth Foreman              (303) 928-8591  sforeman@generalmoly.com

Media – Zach Spencer                                                             (775) 748-6059   zspencer@generalmoly.com

Website: http://www.generalmoly.com                                                                       info@generalmoly.com