Moly Mines Executive Changes

Moly Mines Limited (ASX:MOL)(TSX:MOL) wishes to advise changes to the management
of the Company following a review of the cost and management structure with a
view to reducing overhead costs and establishment of a management structure
which is more suitable to the Company's current position. Mr David Pass and Mr
Alan Howells will cease employment as Acting Chief Executive Officer ("CEO") and
Acting Chief Financial Officer ("CFO"), respectively. Mr Pass will finish with
the Company on 11 April 2014 and Mr Howells will finish with the Company on or
about 24 April 2014. 


Existing Moly Mines Manager Health & Safety and Environment Mr Graeme Kininmonth
has been appointed Acting CEO effective 11 April 2014. Mr Kininmonth has more
than 30 years experience in the resources industry and has worked with Moly
Mines since 2007. Mr Kininmonth has previously worked with Straits Resources,
Sons of Gwalia, Murray Basin Titanium, Cable Sands and Alcoa in a range of
senior management and technical positions. He graduated with a Bachelor of
Science degree from the Australian National University in 1982. In accordance
with ASX Listing Rule 3.16.4, the terms of the remuneration and employment of Mr
Kininmonth are as follows -




--  Base salary of $333,500 per annum (plus Superannuation Guarantee at 10%
    equating to $33,350 per annum); and 
--  Mutual 5 week written notice obligation to terminate the role.



Mr Riccardo Vittino will assume the role of Acting CFO on a part time basis
effective 11 April 2014. Mr Vittino has over 25 years' experience in the
resources sector with a focus on corporate and financial management. Mr Vittino
has previously worked with Helix Resources Limited for 18 years where he was
involved with various IPOs and joint ventures. He has also held the position of
Finance Director of Central Rand Gold Ltd in South Africa and more recently, Mr
Vittino was Chief Financial Officer and Company Secretary of Queensland Mining
Corporation. He holds a Bachelor of Commerce degree from the University of
Western Australia and is a Fellow of the Australian Institute of Company
Directors. Mr Vittino has held numerous Non-Executive Director roles and is
currently a Non-Executive Director of ASX listed companies Fitzroy Resources Ltd
and Credo Resources Ltd.


On behalf of all shareholders, the Board wishes to thank Mr Pass and Mr Howells
for their service, dedication and loyalty to the Company throughout their
employment and wishes them well in their future endeavours.


The Company also wishes to announce the appointment of existing Chairman Mr
Nelson Chen as Alternate Director for Non-executive Director Mr Kang Huan Jun.


ABN 32 103 295 521

FOR FURTHER INFORMATION PLEASE CONTACT: 
Natalie Frame
Investor Relations
+1 416 371 7541
+618 9429 3300
info@molymines.com
www.molymines.com

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