Victory West Moly Limited (ASX:VWM) Positive Results From Additional Molybdenum Concessions

Perth, July 29, 2010 AEST (ABN Newswire) - Victory West Moly Limited (ASX:VWM) ("Victory West" or the "Company") is pleased to announce the latest results from regional reconnaissance geochemical sampling undertaken within the Company's five (5) IUP concessions forming the Malala Molybdenum Project, Sulawesi, Indonesia.

Reconnaissance stream sediment and rock chip geochemical sampling has been undertaken within the PT Promistis, PT Era Moreco, PT Sembilan Sumber Mas and PT Indo Surya concessions, with 377 stream sediment samples and 327 rock chip samples collected during 2010. A number of significant assay results have now been returned, particularly from Promistis, located just 10km from the Company's flagship Anomaly B molybdenum prospect, and only 3km from the coast. The PT Indo Surya and PT Era Moreco concessions have also returned a number of significant geochemical anomalies which will be followed up during the coming months.

The Promistis concession has been the focus of more recent and detailed exploration work programs, with a large number of the stream sediment and rock chip geochemical samples collected from this area. A program of ridge-and-spur soil geochemistry has also started, with initial results assisting in the definition of key target areas. Geochemical assay results have so far defined two distinct areas of anomalous molybdenum within Promistis, each area measuring in excess of 2km x 2km in size. These areas have returned a number of significant rock chip samples, including samples containing >1,000ppm Mo. Several highly anomalous stream sediment samples have also been collected, with 27 samples returning >10ppm Mo to date. The Company will continue to focus exploration on these two key areas within Promistis, with ridge-and-spur soil geochemistry ongoing and a three-dimensional double-offset dipole-dipole induced polarisation (IP) program being planned for the second half of 2010. The Company is particularly excited by the potential of Promistis and aims to use the current geochemical programs to define high-quality targets for later drill testing.

In addition, several new geochemical anomalies have been recognised within the Company's other concessions, most notably within PT Indo Surya and PT Era Moreco. This sampling, which is very broadly spaced reconnaissance sampling, has returned stream sediment samples up to 34ppm Mo from PT Indo Surya and rock chip samples up to 1,420ppm Mo within PT Era Moreco. These anomalous samples will be followed up with more detailed sampling programs in coming months with the aim of identifying new molybdenum discoveries in each of these areas. Based on the new geological model developed over the Anomaly B prospect, the regional fieldwork programs will focus on the contact zone between Malala porphyry rocks and the surrounding Tinombo Metasediments.

For the complete Victory West Moly announcement including location maps and figures, please refer to the following link:

http://www.abnnewswire.net/media/en/docs/63416-ASX-VWM-499155.pdf

Contact

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