Pure-Play Molybdenum Opportunity

Bruce D. HansenChief Executive Officer

Annual Meeting of StockholdersJune 24, 2019

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Cautionary StatementsStatements 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 and repay outstanding debt, including the ability to secure any loans or other financing to fund the costs of the Mt. Hope Project, 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, political, operational and project development risks, including the Company’s ability to obtain a re-grant of its water permits and Record of Decision, 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 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 Note 5 in the Appendix. 2

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General Moly – A Strategic Opportunity

▪ Mt. Hope high-

grade moly

project, almost fully

permitted and

construction ready

▪ Shallow, high-

grade zinc deposit

at Mt. Hope

▪ Strategic

partnerships –

largest

shareholder,

AMER and

Mt. Hope 20%

owner, POSCO

World-Class Moly with Zinc

Potential

Moly Optionality

Financials & Financings

Intangibles

▪ Moly shortfall

expected in 2019-

2022 i

▪ Resilient moly

price i

▪ Strengthened oil &

gas, and energy

industries driving

drilling pipe &

infrastructure i

▪ AMER committed

to purchase $10M

equity upon water

permits receipt

▪ $1.4M convertible

preferred share

private placement

▪ First public offering

in 10 years raised

net proceeds of

$2M in Oct. 2018

▪ Historically

financed through

strategic

partnerships

▪ Management –

mining

development,

technical, and

financial expertise

▪ Mining-supportive

Nevada

▪ Non-core assets –

including royalty on

Ascot Resources’

Mt. Margaret

copper project in

Washington

i. CPM Moly Quarterly forecasts; Platts moly price reference.ii.Please see the Company’s 1Q 2019 results news release and Form 10Q filed on May 14, 2019.

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General Moly Overview

▪ Only western-exchange listed, significant molybdenum (“moly”) developer

▪ De-risking Mt. Hope moly project – pivotal 2019

▪ Water applications approved by State Engineer with water permits anticipated shortly (June 2019)

▪ Anticipate ROD later in 2019

▪ Shallow, high-grade, sulfide zinc mineralization on private claims at Mt. Hope property identified from 2018 drilling

▪ General Moly is focused on advancing the construction-ready Mt. Hope moly project in Nevada

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Capital Structure

▪ Major institutional shareholders, shares held:▪ AMER 28.0M

▪ Hanlong 11.8M

▪ APERAM AMO Holding i 8.3M

▪ Vanguard Group 2.2M

▪ Blackrock Fund Advisors 1.6M

▪ Insider ownership total ii 36.1M

▪ Bruce Hansen, CEO 5.2M

▪ Other senior management 2.9M

▪ Research coverage▪ Heiko Ihle, H.C. Wainwright

▪ John Tumazos, John Tumazos Very Independent Research

Exchanges: TickerNYSE AMER; TSX: GMO

Recent stock price $0.35

Stock 52-week high/low $0.46/$0.16

Shares outstanding (M) 137.5

Recent moly price iii $12.33

Moly 52-week high/low iii$12.70/$10.60

Current Financials iv (M) 3/31/2018

Cash and cash equivalents $1.1

Restricted cash at Mt. Hope $6.2

Current liability senior notes $7.0

Total shareholders’ equity $98.9

i. APERAM, the former stainless steel division of ArcelorMittal, was spun off as a separate public company in 2011.ii. Insider ownership includes AMER shareholdings on basic shares outstanding.iii. Source: Platts.iv. Also see the Company’s Form 10Q for 1Q 2019 results filed on May 14, 2019.

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Moly Upside

▪ Stable foundation price for moly with upside▪ Deficit expected 2019-2022

▪ Tightening market of 650M-700M lbs

▪ Demand:▪ Increased global and Chinese stainless steel

consumption

▪ Expanding liquid natural gas industry and global trade driving moly-alloyed steel for pipes and infrastructure

▪ Demand projected to exceed supply beginning 2019

▪ Supply: ▪ Global production declined 4% in 2018

Source: CPM Group’s Molybdenum Quarterly

Uses of Moly

630.0

651.7

624.0

2016 2017 2018

Major Moly Producers

-4%

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Demand:Diverse End Uses of Moly

7Source: 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

▪ Expected 2019 flat output from largest producer, China▪ China moly production was up 8.5% YOY in 2018 but down 10% from 2016 high

▪ China showed major decline of 17% YOY in 2017

8

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’s Molybdenum Quarterly

80% of world

production

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Moly Supply Deficit Approaching

World Moly Supply and Demand BalanceAnnual, Projected through 2025p

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

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Molybdenum Price Projections

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

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

$13.36$14.69 $15.69

$16.50

(Base: 2019)

$15.87$15.03

$16.61$17.67 $17.58

$16.01

$17.53$17.71

$15.45

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020p 2021p2022p2023p2024p2025p

Oct 2015 Bottom at $4.30

Current moly price

$12.35

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Moly Price and GMO

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GMO (RHS)

Moly Price (LHS)

GMO rose almost 5-fold to nearly $12/share when the moly price surged above $25/lb in

2007 until the financial crisis in 2008.

Through June 14, 2019

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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 –A World-Class Moly Project

▪ Leading primary development project in size and lowest costs

▪ Invested $295M in permitting, pre-construction & long-lead equipment

▪ Identified shallow, high-grade zinc mineralization

▪ Outlook:

▪ Water applications approved

▪ Anticipate BLM’s Record of Decision in 2019

▪ Enhanced financing ability with AMER upon market improvement

* See End Note 1 in the Appendix.

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De-risking Mt. Hope Moly Project

Water Permits

• Settled with 3 protesters, inc.Eureka County

• Water applications approved by State Engineer

• Water permits expected soon

Record of Decision

• BLM is reviewing Supplemental EIS for publication and public comment

• Anticipate receipt of ROD later in 2019

Moly Price

• Stable moly price with upside

• Anticipate sustained higher prices

• Demand to exceed supply 2019-2022

Project Financing

• Work on project financing with strategic partners

• Consider monetizing portion of 80% ownership

• Update bankable feasibility

Construction Decision

Anticipate in 2019

13i. Please refer to the Cautionary Statement in slide 2.

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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)

▪ 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)

15

$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 1, 3, and 4 in the Appendix.

Near Current Moly Price Level

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Potential Catalysts Over Next 12 Months

Water permits

AMER Pte. Placement

ROD

AdvanceFinancing/ Strategic

Alternatives

And Improving Moly Market Fundamentals

Heiko Ihle, H.C. Wainwright: “We are maintaining our Buy rating… based on a DCF of operations for both the Mt. Hope and Liberty projects… (which) could ultimately be moved forward prior to our current estimate of 2022, especially if prices continue to rise sharply given the current molybdenum supply deficit.”

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Appendix

17

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Recent Private Placements

▪ March 2019: Entered agreement for $900,000 convertible Series A Preferred Shares of Company as bridge financing in advance of receiving water permits and AMER equity private placement

▪ At May 31, 2019, the Company drew last tranche completing the $900,000 private placement

▪ Participants: CEO/CFO Bruce D. Hansen and COO Robert Pennington

▪ May 2019: The lessor of the Mt. Hope Project, Mt. Hope Mines, Inc. (MHMI) purchased $500,000 of convertible Series A Preferred Shares.

▪ The funds were used as part of the advance by General Moly to the Mt. Hope Project joint venture company (Eureka Moly, LLC) to pay the initial settlement amount to a Nevada ranching family, the last protester against the water applications.

▪ 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 price of $0.27/common share to 370.37 common shares. The conversion price was set as the closing price of the common share on March 12, 2019, the day before the announcement of the private placement.

▪ In addition to the above, MHMI has a one-time right to require the Company to redeem all or a portion of the Convertible Preferred Shares upon the receipt of a minimum of $5 million from the close of Tranche 3 of the amended AMER Purchase Agreement.

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General Moly: Evaluating Strategic Alternatives

▪ Objective: Seek to enhance value of the Mt. Hope and Liberty projects for benefit of our shareholders

▪ March 2019: Board of Directors retained financial advisors to evaluate and recommend strategic alternatives

▪ Peter J. Scott, Headwall Partners;

▪ Ted Brombach, XMS Capital Partners; and

▪ Steven Strom; Odinbrook Global Advisors as financial advisors

▪ Specialists with deep experience and relationships with a broad spectrum of investors around the world and within the global metals and steel industry

▪ Range of strategic alternatives include

▪ Sourcing of potential incremental capital financing;

▪ Sale of interest(s) in the assets of the Company or the Company; and

▪ Restructuring of the convertible debt maturing December 2019.

▪ In addition, for business development support in China and financing discussions with AMER, the Company has long-term engagement with

▪ Cutfield Freeman & Co.

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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 /lb $10.82

Mt. Hope cash flow breakeven price /lb $9.35

Liberty NPV breakeven price /lb $11.64

Liberty cash flow breakeven price /lb $9.58

* See End Note 4 in the Appendix.

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Key Terms of AMER Investment Agreement

21

Bank LoanTo develop Mt. HopeTo Come:

Tranche 3 $10MClosed

Tranche 2$6MClosed

Tranche 1$4M

▪ November 2015:

$4M private

placement by

AMER at

$0.30/share

▪ October 2017:

Closed $6M

private placement

by AMER at

$0.41/share

▪ $10M private

placement by

AMER to be

priced at

$0.50/share upon

issuance of

Mt. Hope water

permits

▪ AMER to help

procure and

support a $700M

Bank Loan from

major Chinese

bank(s) for

development of

the Mt. Hope

Project upon

sustained

molybdenum

market

improvement

AMER Snapshot

Largest GMO shareholder

111st Fortune Global 500 ranking

Chairman Wang Wenyin, ranked 13th richest billionaire in China by Forbes

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Experienced Management Team

22

▪ 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 38 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

23

▪ 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

▪ AMER International Group’s nominee director; Chairman of the Overseas Investment Committee and CEO of the International Business Group at AMER.

Tong ZhangDirector

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End Notes 1 and 21. Mt. Hope Project - Slide 12 and NPV Sensitivity Slide 15:

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/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% 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 2017, 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% molybdenum. There is also additional mineralized material of 682.5M tons at an average grade of 0.061% molybdenum. The $8.00/lb pit design used to determine reserves and mineralized material was justified on a $10.26/lb of molybdenum price, which is the average of the past four years’ average prices of molybdenum and the future four years’ nominal price estimates for molybdenum by the CPM Group.

2. AMER – Slide 21:Under the Amended Investment Agreement with AMER, which was most recently amended in September 2017, the Company and AMER

accelerated and closed the Tranche 2 private placement of $6.0 million for 14.6M common shares of General Moly priced at $0.41 per share in October 2017. A sum of $5.5M of the Tranche 2 proceeds was allocated to general corporate purposes and $0.5M were directed to the existing expense reimbursement account to cover costs related to Mt. Hope Project financing and other jointly sourced business development opportunities.

Also in the August 2017 Amended Investment Agreement, the Company and AMER modified the Tranche 3 $10.0M private placement which calls for the purchase of 20.0M common shares amending certain conditions related to completion of Tranche 3. The closing of Tranche 3 private placement for $10.0M of General Moly common shares, priced at $0.50, is conditioned, including on the receipt of water permits from the Nevada State Engineer. At closing, the sum of $9.5M will be directed to general corporate purposes and $0.5M will be allocated to the expense reimbursement account described above.

The Company received $4M under the Tranche 1 equity investment closed in November 2015 ($2M restricted to fund the expense reimbursement account to fund joint business opportunities and Bank Loan expenses, and $2M for general corporate use). In addition to 13M GMO shares priced at $0.30 per share, AMER also received warrants to purchase 80M shares at an exercise price of $0.50 per share ($40M if fully exercised). These warrants have since been extended to the earlier of the 60-month anniversary of Loan drawdown or 3rd anniversary of the reissuance of the ROD for the Mt. Hope Project. The number of warrants and exercise price were unchanged.

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End Notes 3, and 43. Liberty Project – Slide 15 and NPV Sensitivity Slide 15:

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/lb molybdenum, $3.25/lbcopper 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.

4. NPV Leverage Chart – Slide 20: 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.

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General Moly Contact

Headquarters

Lakewood, Colorado

(303) 928-8599

www.generalmoly.com

Bruce D. Hansen

Chief Executive Officer

bhansen@generalmoly.com

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