Adanac Molybdenum Corporation

Adanac Molybdenum Corporation

April 12, 2007 15:30 ET

Adanac Molybdenum Corporation: Ledcor Awarded Pre-Construction Services of the Ruby Creek Molybdenum Project

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 12, 2007) - Adanac Molybdenum Corporation (TSX VENTURE:AUA)(PINK SHEETS:AUAYF)(FRANKFURT:A9N) is pleased to announce that it has entered into an agreement with Ledcor of Vancouver, British Columbia to provide pre-construction services. Adanac and Ledcor have also agreed to explore the development of a partnering arrangement for construction of the Ruby Creek Project.

Adanac believes that this agreement represents a key factor for the successful completion of the project. The inclusion of Ledcor into the project team at this time is a proactive approach by Adanac to address the significant challenges presently being faced by industry. Detailed construction planning will begin immediately in order to identify long lead procurement items and efficiently recruit qualified construction personnel.

Ledcor is one of the largest construction companies in Canada and recognized internationally as a leader in the implementation of multi-discipline heavy industrial projects. With over sixty years experience in northern Canadian construction Ledcor is exceptionally qualified to lead the construction of the Ruby Creek Project. Ledcor will utilize its considerable expertise and resources in the planning and execution of "construction driven" projects to allow more effective control of the project schedule and budget.

Adanac and Ledcor share a commitment to the successful development of the Ruby Creek Molybdenum Project based on the key elements of safe work practices, high employee health and environmental standards and developing long-term community based relationships. Ledcor has an excellent reputation of working with local and first nations contractors and tradespersons during construction that is consistent with Adanac's long term commitment to the local community.

The Ruby Creek Molybdenum Project is a major new mining venture in British Columbia. This important molybdenite resource is projected to operate at 20,000 tonnes per day for more than 20 years and will create over 200 full time jobs. Molybdenum production in the first five years is expected to be 60 million pounds. Long term effects on the environment are projected to be minimal.

On Behalf of Management


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 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.

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