Moly Mines Limited (Moly Mines) is engaged in the exploration and development of base and precious metals projects. The principal activity of the Company during the fiscal year ended June 30, 2009, was the exploration, evaluation, and development of the Company’s Spinifex Ridge Molybdenum Project and the Spinifex Ridge Iron Ore Project. The Spinifex Ridge Project consists of four mining licenses, six exploration licenses, one general purpose license and a number of miscellaneous licenses. The Project is located approximately 50 kilometer northeast of the town of Marble Bar and 140 kilometer east-southeast of the town of Port Hedland in the East Pilbara Shire of Western Australia. Moly Mines’s other projects include Glen Eden Project, Mt Pleasant and Mt Tennyson.