Moly Mines Makes Key Executive Appointments To Spinifex Ridge

Sydney, Mar 19, 2007 AEST (ABN Newswire) - Moly Mines Limited (ASX: MOL) is pleased to advise it has made a number of critical technical appointments to the management team for the Spinifex Ridge Molybdenum / Copper Project. The appointments highlight the caliber of the project and its ability to attract quality personnel, particularly during a period of tightening in the human resource markets for experienced mining professionals.

Mining

Mr Michael Gloyne has been appointed Assistant to the General Manager and Manager Mining. Mike is a Mining Engineer with 25 years of extensive industry experience and has a Quarry Manager's Certificate of Competency for WA and NT. Mike has held various General Manager, Operations Manager and Registered Manager positions at Brambles Industrial Services, Boral Contracting Materials, Henry Walker and Dominion Mining. His breadth of experience covers a range of commodities including iron ore, gold, coal, nickel and mineral sands.

Mike will assist the general manager Mr. Collis Thorp to coordinate the various engineering and technical disciplines contributing to the Spinifex Ridge Feasibility Study with an immediate focus on the final mine design, ore scheduling and the major earthworks for plant and mine construction.

Mr Justin Scott, Mine Planning Engineer, has also joined the technical mining team. Justin has large open pit mine design and operations experience, and will be working on the optimization and scheduling of the Spinifex Ridge mining operations.

Process

Mr David Pass joins Moly Mines as Manager Metallurgy. David holds an honours degree (1985) with a double major in Extractive Metallurgy and Chemistry. He brings over 20 years of mining industry experience in mineral processing plants, most recently as Processing Manager at Barrick's Granny Smith mine in Western Australia. He has also held senior operations roles with PlacerDome, Plutonic Mines and North Broken Hill-Peko.

David's proven record of managing processing operations will be vital to Moly Mines as we finalise design parameters and engineering, and equipment selection for the molybdenum/copper circuit for Spinifex Ridge.

Environmental and Approvals

Mr Graeme Kininmonth joins Moly Mines as Manager Health & Safety and Environment. Graeme holds a BSc degree and has 20 years experience in the resources industry. Most recently Graeme was Environmental Manager with Straits Resources following senior positions within environmental and safety management departments at Sons of Gwalia (Greenbushes), Murray Basin Titanium and Cable Sands. Graeme joins at a critical time in the approvals process for Spinifex Ridge with the Public Environmental Review document due for release.

Resignation of Bruce Morrin from the Board

Mr Bruce Morrin has resigned from the Board of Moly Mines due to his increasing executive commitments with Monarch Gold Mining Limited.