General Moly acquired the Liberty Project, located in central Nevada, in 2006. General Moly owns the Liberty Project on a 100% basis and the project is free of any royalties. The company completed a Pre-Feasibility Study in April 2008 and plans to initiate production following the development of Mt. Hope and dependant on market conditions.

The Liberty Project includes the former Hall-Tonopah molybdenum deposit that was mined at two different times between 1982 and 1991 by the Anaconda Company and Cyprus Minerals. Between the two companies, it is estimated that approximately 50 million tons at average grades of 0.1% molybdenum were mined and processed. The pit is open and accessible for mining and usable infrastructure remains at the site. Mineralization within the existing pit is visible and no pre-stripping is expected to be necessary. Outside the existing pit, the Company has found high-grade intercepts at just five feet below the surface that have extended for as much as 525 feet down-dip.