Adanac Molybdenum Corporation

Adanac Molybdenum Corporation

July 11, 2007 06:00 ET

Adanac Molybdenum Corporation: Construction Catering Contract Awarded for the Ruby Creek Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 11, 2007) - Adanac Molybdenum Corporation ("ADANAC") (TSX:AUA)(PINK SHEETS:AUAYF)(FRANKFURT:A9N) is pleased to announce it has awarded the Construction Catering and Housekeeping Services contract for the Ruby Creek Project located near Atlin, BC.

This contract has been awarded to a joint venture company formed by PTI Group Inc. ("PTI") and the Atlin Tlingit Development Corporation ("ATDC"). The ATDC is a wholly owned company of the Taku River Tlingit First Nations ("TRTFN").

Adanac is extremely pleased with the award of this contract to the PTI/ATDC joint venture company as it offers significant benefit and opportunity to the local community for training and career development that will be transferable to the operations, creating long term sustainable employment and job skills.
PTI has over 30 years experience in the camp and catering industry and has a strong commitment to safety and the provision of high quality catering services, both of which will be key to the stability of the workforce at the Ruby Creek Project.

ADANAC is engaged in the exploration & development of mines to produce molybdenum. The Company's flagship property is the Ruby Creek Molybdenum Project located near Atlin, BC. Open-pit reserves of 143.7 million tonnes containing an average 0.059% Mo at a cut-off grade of 0.04% Mo are sufficient to sustain a milling rate of 20,000 tonnes for more than 20 years. The Project's environmental assessment recommendation will be forwarded to the BC provincial cabinet by July 25th, 2007. The procurement of long lead time items of equipment has been completed and on site construction is slated to begin upon receipt of applicable permits expected early in the fall of 2007.


Michael MacLeod, President & 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 Stock Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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