Pure-Play Molybdenum Opportunity

Bruce D. HansenChief Executive Officer and Chief Financial Officer

Meetings at Prospectors & Developers Association of Canada (PDAC), Toronto

March 2-4, 2020

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Cautionary Statements Statements herein that are not historical facts are “forward-looking statements” within the meaning of Section 27A of the Securities Act, as amended and Section 21E of the Securities Exchange Act of 1934, as amended and are intended to be covered by the safe harbor created by such sections. Such forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those projected, anticipated, expected, or implied by the Company. These risks and uncertainties include, but are not limited to availability of cash to continue ongoing operations, availability of insurance, metals price and production volatility, global economic conditions, currency fluctuations, increased production costs and variances in ore grade or recovery rates from those assumed in mining plans, exploration risks and results, reclamation risks, political, operational and project development risks, ability to maintain required federal and state permits to continue construction, and commence production of molybdenum, copper, silver, lead or zinc, ability to identify any economic mineral reserves of copper, silver, lead or zinc, ability of the Company to obtain approval of its joint venture partner at the Mt. Hope Project in order to mine for molybdenum, copper, silver, lead or zinc, ability to raise required project financing or funding to pursue an exploration program related to potential copper, silver lead or zinc deposits at Mt. Hope, ability to respond to adverse governmental regulation and judicial outcomes, and ability to maintain and /or adjust estimates related to cost of production, capital, operating and exploration expenditures. For a detailed discussion of risks and other factors that may impact these forward looking statements, please refer to the Risk Factors and other discussion contained in the Company's quarterly and annual periodic reports on Forms 10-Q and 10-K, on file with the SEC. The Company undertakes no obligation to update forward-looking statements.

Cautionary Note to U.S. Investors Concerning Estimates of Reserves and Resources

Calculations with respect to "proven reserves" and "probable reserves" referred to herein have been made in accordance with, and using thedefinitions of National Instrument 43-101, as required by Canadian securities regulatory authorities. For United States reporting purposes, theU.S. SEC applies a different standard in order to classify mineralization as a "reserve". Under SEC standards, mineralization may not beclassified as a "reserve" unless the determination has been made that the mineralization could be economically and legally extracted orproduced at the time the reserve determination is made. No such determinations have been made with respect to any mineralization at theLiberty project, and it cannot be assured that such a determination will be made. This presentation also uses the terms “measured”,“indicated” and “inferred” resources. We caution U.S. investors that while such terms are recognized and required by Canadian SecuritiesAdministrators pursuant to the National Instrument 43-101, the SEC does not recognize them. U.S. investors are cautioned not to assume thatany part or all of mineral deposits in these categories will ever be converted into reserves. “Inferred Resources”, in particular, have a greatamount of uncertainty as to their existence, and great uncertainty as to their economic and legal feasibility. It cannot be assumed that all orany part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian Securities Administration rules,estimates of Inferred Mineral Resources may not form the basis of feasibility or pre-feasibility studies. U.S. investors are cautioned not toassume that part or all of an inferred resource exists, or is economically or legally minable.

Please refer to End Notes in the Appendix.

The Qualified Person’s statement related to exploration is in End Notes in the Appendix.

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General Moly – A Strategic Opportunity

Mt. Hope high-grade

moly project, fully

permitted and

construction ready*

Shallow, high-grade

zinc mineralization at

Mt. Hope

Strategic joint venture

partner & Mt. Hope

20% owner, POSCO

affiliate

World-Class Moly with Zinc

Potential

Moly Optionality

Intangibles

Moly shortfall

anticipated in 2020-

2024i

Resilient moly price i

Global LNG industries

driving infrastructure

build-out with moly-

related steels ii

Management – mining

development,

technical, and

financial expertise

Mining-supportive

Nevada

Non-core assets being

marketed for sale

* See End Note 1 in the Appendix.i. CPM Molybdenum Quarterly forecasts

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General Moly Investment Highlights Only western-exchange listed, significant molybdenum (“moly”) developer

Key assets include:

80% interest in the Mt. Hope Project

100% of the Liberty Project

Miscellaneous non-core General Moly and Mt. Hope Project assets being sold

Strategic partnerships and investors:

Amer International Group, largest shareholder

POSCO, Korean steel company partner in Mt. Hope Project

APERAM, major shareholder

ArcelorMittal, SeAH Besteel and Sojitz have off-take sale agreements

Largest individual shareholder is the CEO

Poised to take advantage of anticipated 5-year moly supply shortfall i

to develop the next world-class, primary moly mine ii

4i. CPM Molybdenum Quarterly forecasts.ii. Subject to project financing and sustained higher moly prices

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General Moly – 2019 Accomplishments Significantly de-risked the now construction-ready Mt. Hope moly project

Achieved fully permitted status with ROD and water permits received*

The 80%-owned Mt. Hope Project joint venture has restricted cash of $4.1M (100% basis) sufficient to fund care and maintenance into 2021

Resolved all protests and received all necessary Water Rights in July 2019

Raised capital of $7.4 million

Settled dispute with largest shareholder Amer which invested $4M in a private placement at $0.40 per common share and paid an extension fee of $0.3M in exchange for common shares at $0.27 per common share

CEO and COO completed two separate private placements investing a total of $1.3M in Series A and Series B Convertible Preferred Shares

Mt Hope lessor company invested $0.5M in Series A Convertible Preferred Shares; since converted to common shares at a price of $0.27 per share

Issued $1.34M in new 13% Senior Promissory Notes due December 2022

Exchanged $6.89M in old debt notes for 12% Senior Promissory Notes due December 2022 with a $0.35 per common share warrant

5* See End Note 1 in the Appendix.

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Addressing Near-Term Liquidity and Longer Term Sustainability

The Company is working diligently with its Financial Advisors to evaluate potential strategic alternatives, including raising incremental capital

Potential near-term sales of non-core assets

Sourcing of potential, incremental, intermediate-term capital financing

Sale of interest(s) in the assets of the Company, including a potential sale of interest in the Mt. Hope Project, or the Company

Financial advisors: XMS Capital Partners, Headwall Partners, and Odinbrook Global Advisors i

6i. See Company’s March 13, 2019 news release.

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Capital Structure

Exchanges: TickerNYSE AMEX; TSX: GMO

NYSE AMEX trailing 3-mth. daily trading average 216,000

Common shares outstanding i 152,316,255

Common shares from future conversion of preferred shares ii 5,333,330

Fully Diluted Shares i 157,649,585

i. At December 31, 2019. See Series A and B Convertible Preferred Shares slide in the Appendix.ii. At December 31, 2019. Warrants and restricted stock units for insiders are out of the money and excluded from the Fully Diluted total.iii. Volume Weighted Average Price for the past 30 trading days.iv. See the Company’s Form 10Q for 3Q 2019 results filed on Nov. 19, 2019.v. Excludes $4M private placement by Amer affiliate, $0.3M extension fee paid by Amer, $1.34M in new 13% promissory notes, and $0.2M

in reimbursement from the Mt. Hope joint venture to the Company. vi. Source: Platts

Research coverage

Heiko Ihle, H.C. Wainwright

John Tumazos, J. Tumazos Very Independent Research

Current Financials ivSept 30,

2019

Cash and cash equivalents v $1.1M

Restricted cash at Mt. Hope $4.1M

Current liability senior notes $7.2M

Total shareholders’ equity $93.7M

GMO

$0.45$0.16

Molyvi

52-week price range on NYSE American

Recent$0.23VWAPiii

$0.22

$12.70$8.28

$9.65

52-week price range

Recent$0.37

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Ownership – Common and Preferred Shares, and Notes

Key Institutional OwnershipCommon

Shares (M)

Amer International Group i 39.1

Hanlong 11.8

APERAM ii 8.3

Vanguard Group 2.2

Blackrock Fund Advisors 1.6

Insider Ownership iii

Bruce Hansen, CEO & CFO 5.7

Other insiders 3.6

Total Insiders iii 9.3

i. Includes shares held by affiliate of Amer. ii. APERAM, the former stainless steel division of ArcelorMittal, was

spun off as a separate public company in 2011.iii. Excluding Amer.iv. See Series A and B Convertible Preferred Shares slide in Appendix.

Mr. Hansen would have 4.5M more common shares and Mr. Pennington 570,370 more shares if their respective preferred shares were all converted.

v. Both 12% and 13% Notes’ Principals mature Dec 26, 2022.vi. Former owner of the Thompson Creek moly mine.

2019 Private PlacementsPreferred Shares iv

Bruce Hansen, CEO & CFO $1,160,000

Robert Pennington, COO $140,000

12% Promissory Notesv

Bruce Hansen, CEO & CFO $1,174,023

Steve Mooney vi $5,248,611

Others $798,323

13% Promissory Notes iv

Bruce Hansen, CEO & CFO $223,700

Steve Mooney vi $1,000,000

Others $111,800

All data on this slide reflect December 31, 2019.

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Moly Upside Stable foundation price for moly with upside

Deficit anticipated 2020-2024

Tightening market of 650M-700M lbs

Solid demand anticipated to resume i

Observed increased global and Chinese stainless steel consumption through 2019

Expanding liquid natural gas world trade driving moly-alloyed steel for pipes and infrastructure

China’s new policy implemented in 2019 opening its upstream gas industry and distribution to foreign companies also positive for moly-alloyed steel

Platts projects that China will overtake Japan as the largest LNG importer in the world by mid 2020s

Supply tightening Global production is anticipated to be flat in 2019

compared with 2018

Anticipated five-year net supply deficit in 2020-2024

Source: CPM Groupi. Subject to duration of COVID-19 outbreak and normalization recovery of steel and commodities’ markets

Uses of Moly

Global Moly Production

-4%

630.0

651.7

624.0

2016 2017 2018 2019E

Flat

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Demand:Diverse End Uses of Moly

10Source: SMR Research

5%

3%

4%

6%

7%

8%

10%

13%

15%

15%

15%

Other Applications

Electronics & Medical

Aerospace & Defense

Building & Construction

Power Generation

Other Transportation

Process Industry

Mechanical Engineering

Automotive

Chemical / Petrochemical

Oil & Gas Oil & Gas - Refinery catalysts, LNG development, shale gas installations, off-shore /deep ocean oil production

Chemical / Petrochemical - Corrosion inhibitors, chemical catalysts, fertilizers, waste water treatment

Automotive - Engines, pistons, crankshafts, axle shafts, steering components

Mechanical Engineering - Heavy machinery, mining equipment, cutting tools

Process Industry - Food processing equipment and storage, metal / steel processing, desalination

Other Transportation - Locomotive shafts, train wheels, brake pads, shipbuilding (bulkheads and hulls)

Power Generation - Coal, oil, gas and nuclear power plants, wind turbines, hydro and solar energy

Building & Construction - Major infrastructure: bridges & tunnels, anchors, rebars, heating / ventilation systems

Aerospace & Defense - Turbine parts, jet engines, landing gear, piping systems, armored vehicles

Electronics & Medical - Semiconductors, pharmaceutical and biotechnology processing equipment, x-ray tubes

Other Applications - Pigments, coatings, lubricants

Energy & Transportation

45%

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Moly Supply Leveling Out By-product moly supply has peaked Codelco reported 9% lower production in 2019 compared with 2018 Anticipated results from 2019 to show slight increase in output from

largest producer, China

11

0 50 100 150 200 250

Others

Antamina Mine

Highland Valley Mine

Bingham Canyon Mine

Antofagasta

Sierra Gorda Mine

Grupo Mexico

Codelco

Freeport McMoRan

Chinese producers

2018 2017 2016

Source: CPM Group

Major producers represent ~80% of

world production

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Moly Supply Deficit BeginsWorld Moly Supply and Demand Balance

Annual, Projected through 2030p

Source: CPM Group’s Molybdenum Quarterly, December 2019.

$/P

ou

nd

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Recent Moly Price Performance vs. Energy, Metals and U.S. Dollar

13Source: All, except for moly, rely on BarChart.com using March 2020 or April 2020 contracts on Nymex, Comex or LME, and using ICE for the US dollar index. Moly performance was derived from Platts’ prices. As of February 25, 2020.

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$0

$5

$10

$15

$20

$25

$30

$35

$40

J-06 J-07 J-08 J-09 J-10 J-11 J-12 J-13 J-14 J-15 J-16 J-17 J-18 J-19 J-20 J-21 J-22 J-23 J-24 J-25 J-26 J-27 J-28 J-29 J-30

Nominal Prices Real Price Projection Nominal Price Projection

Molybdenum Price Projection

Historical Monthly Prices 2006-To Date i CPM Price Projection ii

i. Source: Plattsii. CPM Group’s Molybdenum Quarterly projections, December 2019.

$12.58$13.59

$14.34$14.42

(Base: 2019, 2020-2030 projections)

$14.13$12.87$14.22

$15.13

$16.31

$14.56$15.79

$16.69

$13.64

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030

Oct 2015 Bottom at $4.30

Recent moly price

$9.65

14

15-year average ~$15.7510-year average ~$11.00

$14.13$13.92

$13.36

$16.82$16.95

$17.08$17.12

$17.16

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Ownership 80% General Moly; 20% POSCO

Status Pre-constructionwork suspended; 65% engineered

Estimated life 30 years

Remaining capex, 100% $1.03B

First 5 years:*

40M lb/year$6.28 cash op. costs/lb

General Moly’s 80% interest LOM:*

NPV = $734M IRR = 18%After-tax, undiscounted cash flow= $3.8B

Flagship Mt. Hope –World-Class Moly Project

Next primary moly development

Fully-permitted, construction-ready, high-grade moly project*

Invested $299M in permitting, pre-construction & long-lead equipment

Augmented by shallow, high-grade zinc mineralization

Outlook: Seeking project financing upon sustained higher moly prices

* See End Notes 1 and 2 in the Appendix.

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Mt. Hope Moly Project Path Forward

Fully Permitted & Construction Ready

• Record of Decision received – Sept 2019 *

• Water Permits received –July 2019

Moly Price

• Moly price generally leading base metals and energy

• Supply deficit anticipated 2020-2024

• Anticipate sustained higher prices

Project Financing

• Commence project financing upon sustained higher moly prices

• Evaluate selling portion of 80% Mt. Hope Project ownership

• Update bankable feasibility

Construction Decision

16i. Please refer to the Cautionary Statement in slide 2.* See End Note 1 in Appendix.

Subject to raising near-term liquidity, this is the path forward for the Mt. Hope Project. i

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First 5 years:*

14M Mo lb

& 7.5M Cu lb /year

$7.79 cash op. costs/lb Mo

LOM NPV = $325M IRR = 17%LOM after-tax, undisc. cash flow = $1.7B

Follow On –Liberty Moly-Copper Project

Another world-class moly asset

Previously mined for molybdenum and copper

Significant infrastructure remains (electrical, roads, and truck shops)

Deposit lies on General Moly’s private fee lands and patented claims, and carries no royalties

Mining friendly location in Nevada

Outlook: Advancement to Feasibility Study contingent on market improvement

Ownership 100%

Status Completed PFS

Estimated life 32 years

Capex $366M

* See End Note 3 in the Appendix.

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NPV Shows Significant Leverage to Rising Moly Prices

Mt. Hope, Liberty and Combined NPV* ($M)

18

$289

$734

$1,194

$85

$325

$559

$12.50 $15.00 $17.50

Mt. Hope Liberty

Molybdenum price/lb

$374

$1,059

$1,753

* See End Notes 2 and 3 in the Appendix.

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General Moly has Significant Leverageto the Molybdenum Price

Every $1/lb change in moly price between $10-$20/lb* NPV

Mt. Hope Project +/- $180M

Liberty Project +/- $95M

General Moly Total NPV +/- $275M

Projects’ Breakeven Prices

Mt. Hope NPV breakeven price $10.82/lb

Mt. Hope cash flow breakeven price $9.35/lb

Liberty NPV breakeven price $11.64/lb

Liberty cash flow breakeven price $9.58/lb

* See End Note 4 in the Appendix.

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Investment Highlights

Only publicly traded, pure-play moly Company

Very favorable moly price outlook

Mt. Hope Project is fully permitted and construction ready*

Solid partner support from POSCO

Mt. Hope plus Liberty provide significant leverage to arising moly price

Pursuing a range of strategic alternatives to enhance value

* See End Note 1 in the Appendix.

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Appendix

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Outstanding Common Shares Ownership

Source: General Moly data and Nasdaq.com for 13F institutional ownership.

Bruce Hansen, CEO-CFO4%

Other Insiders2%

Amer26%

Hanlong8%

APERAM5%

Vanguard2%

Blackrock1%

Other Institutions2%

Retail50%

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Series A and B Convertible Preferred Shares General Structure

Price: $100/preferred share

5% annual dividend

Convertible at any time at the holder’s discretion into common shares whereby one preferred share converts at a conversion price (see below). The conversion price was set as the closing price of the common share on the day before the announcement of the $0.9M and $0.4M private placements.i

Series A Convertible Preferred Shares

Each preferred share converts at $0.27/common share to 370.37 common shares.

Series B Convertible Preferred Shares

Each preferred share converts at $0.20/common share to 500 common shares.

Redemption Upon maturity or full repayment of the promissory notes currently

outstanding, there will be mandatory redemption of the preferred shares into equivalent cash for the principal invested, plus any accrued and unpaid dividends.

i. See March 13, 2019 and August 1, 2019 news releases

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12% and 13% Senior Promissory Notes* 12% Senior Promissory Notes – Issued in December 2019

Company made private Exchange Offer to holders of maturing debt of $7.25M to exchange for 12% Senior Promissory Notes due December 2022 and Warrants (described below).

95% tendered for $6.89M exchanged for 12% Senior Promissory Notes

The Company paid $368,000 in unpaid principal and all accrued and unpaid interest to the holders who elected not to exchange.

Annual interest at 12%, payable quarterly. Matures December 26, 2022.

13% Senior Promissory Notes – Issued in December 2019

Company made Subscription Offer to eligible holders who tendered in the Exchange Offer to purchase 13,355 units for $100 each of new 13% Senior Promissory Notes due December 2022 and Warrants (described below).

$1.34M in new capital raised from the Subscription Offer.

Annual interest at 13%, payable quarterly. Matures December 26, 2022.

Warrants

One Warrant to purchase one common share issued per $1 invested in the above 12% and 13% notes.

Each Warrant has an exercise price of $0.35 per common share over a three-year term.

* See March 13, 2019 and August 1, 2019 news releases

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Mt. Hope Zinc-Copper-Silver Exploration* Shallow zinc zone overlapping final pit outline for Mt. Hope moly deposit

Targeting open-pit-mineable zinc and high-grade underground-mineable copper-silver

Historical intermittent underground zinc production from 1886 to 1970s, with 185,000 st of ore produced during 1944-1947 grading 8.5% Zn, 1.0% Pb, 0.9 oz/st Ag

Induced Polarization geophysical results indicate anomalous zone open at depth

Historical drilling of approximately 20,000 ft

2018 General Moly drill program: 9 core holes, 8,300 ft with high-grade zinc intercept results demonstrating shallow to open at depth zinc mineralization

Develop potential – before, after, or simultaneous to moly deposit

Permitting largely in place

Synergies with water, power, and tailing storage to be developed for moly

5 Mst of stripping overlap between moly open pit and zinc mineralization

Zinc and silver mineralization potentially present in molybdenum waste

Moly open pit provides access for further exploration drilling and to potentially access deeper, high-grade copper-silver mineralization

* See End Note 5 in Appendix. Also see the 2018 drilling program results in the Company’s news releases of January 3, 2019, October 15, 2018 and September 4, 2018.

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Mt. Hope Zinc-Copper-Silver Exploration

Geologic section looking northwest, showing drill holes intersections in red with intercepts above 1% Zn

* See End Note 5 in Appendix. Also see the 2018 drilling program results in the Company’s news releases of January 3, 2019, October 15, 2018 and September 4, 2018.

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Experienced Management Team

27

CEO and a Director since 2007. Assumed CFO role in 2017.

Previously served in multiple executive roles at Newmont, including Chief Financial Officer and Senior VP, Operations Services & Development, and was Senior VP, Corporate Development for Santa Fe Pacific Gold. Executed numerous financings and M&A transactions.

COO since 2012; joined in 2007 as VP Engineering & Construction.

Over 35 years in mine operations, project engineering and construction. Previously served as general manager of Phelps Dodge’s Morenci Mine, one of the largest open-pit/concentrator operations in the world.

Chief Legal Officer since 2015; joined in 2010 as VP HR and Corporate Counsel. Formerly served as General Counsel and Executive Vice President of Law and Human

Resources at Flatiron Financial Services and as in-house counsel for Qwest and US West. Financing and corporate deal experience, including cross-border transactions.

Manager of Engineering and Development since 2008.

Over 40 years of industry experience. Previously worked for Rio Tinto, Phelps Dodge and Freeport-McMoRan in operations, technical services, research and development, project management and M&A.

Mike IannacchioneVP & GM Mt. Hope

Chuck MaxwellManager Engineering &

Development

Scott RoswellChief Legal Officer & VP HR

Bob Pennington Chief Operating Officer

Bruce HansenChief Executive Officer &

Chief Financial Officer

Vice President of Permitting and Environmental Compliance since joining in 2006.

More than 25 years industry experience, including extensive work in Nevada Previously served as Operations Environmental Permitting Manager with Newmont

Pat RogersVP Permit. & Envir. Comp.

Became Principal Accounting Officer in 2017; Controller since 2016. Joined 2008.

Previously served in audit at KPMG. CPA since 2009 and has a Chartered Global Mgt. Accountant certificate from the American Inst. of Certified Public Accountants.

Amanda CorrionPrincipal Accnt. Officer &

Controller

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Board of Directors

28

Managing Director of the minerals capital and advisory practice of Capstone Headwaters and an international natural resources banker for more than 35 years.

Also a director of Endeavour Silver and Forsys Metals.

Previously served in multiple executive roles at Newmont, including Chief Financial Officer and Senior VP, Operations Services & Development, and was Senior VP, Corporate Development for Santa Fe Pacific Gold. Executed numerous financings and M&A transactions.

Also a director of Energy Fuels and ASA Gold and Precious Metals.

Retired as Chief Financial Officer of Apex Silver Mines and previously served senior financial positions with Cyprus Amax, AMAX and Amax.

Mike IannacchioneVP & GM Mt. Hope

Mark LettesDirector

Bruce HansenDirector, CEO and CFO of

General Moly

Ricardo CampoyChairman & Lead

Independent Director

Retired as President, Chief Executive Officer, and a Director of Frontera Copper and previously served as Senior Vice President of South American Operations for Phelps Dodge Mining.

Gary LovingDirector

Former Partner of KPMG and previously served as global director of Arthur Andersen’s mining industry practice.

Also a member of the Board of Managers of Jonah Energy Holdings and Discovery DJ Holdings.

Gregory RaihDirector

Risk Advisory and Controls Manager for Amer Singapore.

Previously served as Regional Enterprise Planning Manager for Sibelco Asia. Fourteen years experience in internal audit beginning with Ernst and Young and progressing to several other companies.

Terry LeeDirector

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End Notes 1 - 31. Mt. Hope Project ROD – Slides 3,5, 15, 16, and 20

In October 2019, a Complaint was filed against the U.S. Department of Interior and Bureau of Land Management (“BLM”) in the U.S. District Court in Nevada, challenging the September 27, 2019 re-issuance of the Record of Decision (“ROD”) for the Mt. Hope molybdenum project. The process for completing the associated Supplemental Environmental Statement involved an exhaustive environmental analysis and review that lasted almost three years, and included extensive public notice and comment. The Company supports the very robust, and legally and technically defensible work completed by the BLM and believes that the new ROD complies with all federal statutes and rules.

2. Mt. Hope Project - Slide 15 and NPV Sensitivity Slide 18: The mine life and economic indicators are based on the updated optional mine plan announced in a February 25, 2014 news release, which reported on an internal study that examined an optimized pit using lower molybdenum prices. The internal study used a $10.00/lbmolybdenum mine plan and the geologic block model from the Canada National Instrument 43-101 Technical Report Feasibility Study, filed in January 2014 and available on the Company’s website.

Operating data represent the averages over the first five years of production under the optional mine plan. Net Present Value and the Internal Rate of Return use the optional mine plan with a $15.00/lb molybdenum price over 24 years of mining and 30 years of mill processing at an 8% discount rate, after tax. Cash flow is based on the same optional mine plan, except it is undiscounted. The optional mine plan called for mining of 737M tons of ore containing 935M lb of molybdenum and relied on the 2014 Feasibility Study’s proven and probable reserves representing 984.6M tons at an average grade of 0.070% sulfide molybdenum and containing 1.4B lb of molybdenum. While the above reserves are in accordance with NI 43-101, they are not recognized as reserves by the U.S. SEC. Refer to the cautionary note to U.S. investors on Slide 2.

As reported in the Company’s Form 10-K for 2018, based on an $8.00/lb molybdenum pit design, Mt. Hope Project has proven and probable reserves of 367.4M tons of ore at an average grade of 0.080% sulfide molybdenum. There is also additional mineralized material of 682.5M tons at an average grade of 0.061% sulfide molybdenum.

3. Liberty Project – Slide 17 and NPV Sensitivity Slide 18:Data are based on the updated Pre-Feasibility Study Technical Report, compliant under Canada National Instrument 43-101, filed in July 2014 and available on the Company’s website.

Operating data represent the averages over the first five years of production. Cash operating costs per pound of molybdenum are estimated using $3.25/lb copper byproduct credits. Net Present Value and Internal Rate of Return use $15.00/lb molybdenum, $3.25/lb copper over 31 years of mining, 32 years of milling and an 8% discount rate, after tax. Cash flow is based on the aforementioned, except it is undiscounted.

Measured and indicated resources of 309.2M tons at average grades of 0.078% molybdenum and 0.098% copper contain 482M lb of molybdenum and 606M lb of copper. Liberty reserves, based on $15/lb molybdenum and $3.00/lb copper, are effective as of July 30, 2014. Proven reserves are within 92.5M tons at average grades of 0.101% molybdenum and 0.056% copper while probable reserves are within 216.7M tons at average grades of 0.068% molybdenum and 0.116% copper. While the above reserves are in accordance with NI 43-101, they are not recognized as reserves by the U.S. SEC. Please refer to the cautionary note to U.S. investors on Slide 2.

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End Notes 4 and 54. NPV Leverage Table– Slide 19:

Mt. Hope Project NPV breakeven and cash flow breakeven reflect General Moly’s 80% ownership in the project under the optional mine plan, using a $15.00/lb molybdenum price over 24 years of mining and 30 years of mill processing at an 8% discount rate, after tax.

Liberty Project NPV breakeven and cash flow breakeven use $15/lb molybdenum, $3.25/lb copper over 31 years of mining, 32 years of milling and a discount rate of 8%, after tax. There is the potential to increase Liberty’s NPV and IRR by toll roasting Liberty molybdenum concentrates at the Mt. Hope Project once constructed, thereby decreasing total cash costs to $7.41/lb for the first 5 full years of production.

5. Zinc potential at Mt. Hope – Slide 25 and 26:Any mineral exploitation will require POSCO approval. This Skarn Area does not contain any mineral resource estimate as defined by Canada National Instrument 43-101 (“NI 43-101”) or any proven or probable reserves as defined by the United States Securities and Exchange Industry Guide 7, nor is there any certainty that further exploration will result in any targets becoming part of a mineral resource or mineral reserve.

Qualified Person’s Statement: The scientific and technical information as related to the zinc drill results was reviewed by Mark W. Osterberg, Principal Consulting Geologist of Mine Mappers, LLC. Dr. Osterberg is a “qualified person” as defined by NI 43-101. He is a Professional Geologist, with master’s and doctorate degrees in geology. He has extensive minerals industry experience that is relevant to the evaluation of the style and nature of mineralization described.

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Bruce D. Hansen

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