Victory West Moly Limited (ASX:VWM) Completes A$1.5 Million Capital Raising To Fund Exploration Programme At Malala Molybdenum Project, Indonesia

Perth, April 15, 2010 AEST (ABN Newswire) - Victory West Moly Limited (ASX:VWM) is pleased to inform the market that it has closed the placement of 10,000,000 ordinary shares and 5,000,000 listed options (exercisable at A$0.20, on or before 24 February 2012) to sophisticated and institutional investors to raise A$1,500,000 which was oversubscribed.

These additional funds will strengthen the Company's cash position as it continues its exploration programme of its Malala Molybdenum Project, Sulawesi, Indonesia.

The granting of the abovementioned options are subject to shareholder approval at the Company's next General Meeting to be convened shortly.

Contact

Robert Hyndes Chief Executive Officer Victory West Moly Limited www.victorywestmoly.com.au TEL: +61-8-9381-5819 FAX: +61-8-9388-3701