Victory West Moly Ltd (ASX:VWM) Discovers Significant New Molybdenum Anomaly At PT Promistis, Malala Molybdenum Project Indonesia

Perth, Nov 18, 2009 AEST (ABN Newswire) - Victory West Moly Ltd (ASX:VWM) is pleased to announce the discovery of a significant new molybdenum anomaly at PT Promistis, only 10km from the Company's Anomaly B Molybdenum Prospect, within the Malala Molybdenum Project area, Sulawesi, Indonesia. Highlights include:

- Multiple stream sediment samples have returned highly anomalous molybdenum values up to 97ppm Mo.

- Preliminary rock chip samples return up to 457ppm Mo.

- Detailed follow up geological mapping and sampling is underway, with an additional geologist expected to be added later this month.

As part of the Company's ongoing reconnaissance sampling program within its five concessions forming the Malala Molybdenum Project, stream sediment sampling has returned anomalous molybdenum results from multiple locations within PT Promistis over an area approximately 3km x 3km. Thirteen samples have returned values in excess of 10ppm Mo, with a maximum value of 97ppm Mo reported so far.

By comparison, reconnaissance exploration undertaken by Rio Tinto in the early 1970's discovered the Anomaly B Prospect by following up a stream sediment sample of 8ppm Mo.

Chief geologist, Brett McKay said "the Promistis anomaly is certainly a significant development for the Malala Project as it goes a long way to confirming our belief that there are multiple molybdenum systems at Malala. We are particularly excited by the potential of Promistis and will be following up the stream sediment samples with the hope of making a new hard-rock discovery."

The Company currently has a geological field crew undertaking a detailed follow up assessment of this area, with preliminary rock chip samples so far returning values up to 457ppm Mo. Furthermore, zones of strong to intense alteration have been observed over a large area. An additional geologist is expected to be added to this team within the coming weeks. The Company aims to discover the hard-rock source of this molybdenum in the drainage systems, with expectation of a similar porphyry-style source as seen at Anomaly B. This would confirm the Company's belief that Malala is a new molybdenum province, potentially hosting multiple porphyry-related molybdenum prospects.

The PT Promistis concession is located in close proximity to the PT Inti Cemerlang concession which contains the Company's flagship Malala Molybdenum Project. The newly discovered molybdenum anomaly within PT Promistis is approximately 5km from the deep water harbour at Malala Bay. Numerous roads and tracks facilitate easy access around this concession.

Contact

Victory West Moly Limited Luke Martino Company Secretary TEL: +61-8-9381-5819 FAX: +61-8-9388-3701