Adanac Molybdenum Corporation
TSX VENTURE : AUA
PINK SHEETS : ANCGF
FRANKFURT : A9N

Adanac Molybdenum Corporation

January 08, 2007 13:55 ET

Adanac Hires Fuller Fletcher for European Exposure

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 8, 2007) -

Adanac Molybdenum Corporation (the "Company") (TSX VENTURE:AUA)(PINK SHEETS:ANCGF)(FWB:A9N) is pleased to announce it has, subject to regulatory approval, engaged Fuller Fletcher & Associates Limited ("F&F") as its European investor relations consultant. Under the terms of the engagement, F&F will assist in developing a communications package, organizing presentations and communicating with institutional and individual shareholders, and investors within the European market. With over 20 years of experience in the European financial markets, F&F has established an extensive list of contacts in the institutional investment management and stock brokerage communities. F&F will be the conduit of information to the European investment community, keeping Adanac's target audience informed of significant corporate developments on a timely basis.

F&F has been engaged, initially, for a one-year period, at a fee of $6,000 per month. In addition, the company will grant to F&F incentive stock options to purchase up to 200,000 shares of the company at $1.20 per share. Adanac's major focus is its Ruby Creek Molybdenum project, located 24 km NE of Atlin, BC.

The Ruby Creek Project is a proposed open pit molybdenum mine situated 24 kilometers northeast of Atlin, BC which would operate at 20,000 tonnes per day for ore for 20 plus years and have an overall footprint of approximately 830 hectares. The Company believes that the proposed mine is a sound project that will minimize any long term environmental effects and maximize socio-economic benefits to the local community, Taku River Tlingit First Nation and British Columbia.

Wardrop Engineering has completed a Bankable Feasibility Study (July 2006) and the Company is in the midst of its application for Environmental Assessment Certificate. Currently, AMEC Plc is doing the detailed Engineering and Procurement of lead equipment for the project.

Adanac encourages the public to visit the website at www.adanacmoly.com for updated information on its properties or to email us at info@adanacmoly.com to be added to the Company's email list for press releases and updates.

On Behalf of Management

ADANAC MOLYBDENUM CORPORATION

Michael MacLeod, President and Chief Executive Officer

This news release may contain certain "Forward-Looking Statements" within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included herein are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company's expectations are disclosed in the Company's documents filed from time to time with the Toronto Venture Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission.

The TSX-Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Fuller Fletcher & Associates Ltd.
    Nick Fuller
    European Investor Relations Contact
    +44 207 256 5204
    Email: nick@fullerfletcher.com
    or
    Fuller Fletcher & Associates Ltd.
    Samantha Fletcher
    European Investor Relations Contact
    +44 207 256 5204
    +44 207 256 5678 (FAX)
    Website: www.fullerfletcher.com
    or
    Adanac Molybdenum Corporation
    Michael MacLeod
    President and Chief Executive Officer
    (604) 531-9639
    (604) 531-9634 (FAX)
    Email: info@adanacmoly.com
    Website: www.AdanacMoly.com