Adanac das Molybdän-Invest!

This financing was arranged through Adanac’s United States based investment banker and includes participation from leading global institutional investors. Securing the balance of the funds required to build the mine, mill and related infrastructure is scheduled to be completed by the fourth quarter of 2008.

“This financing enables Adanac to continue its engineering and construction planning activities and take possession of processing equipment we have ordered for the molybdenum mine. It represents a strong vote of confidence from the financial market for building the project.” said Dr. David Stone, CEO.

Adanac Molybdenum Corp. is engaged in the exploration and development of mines to produce molybdenum and other ferro-alloy metals. Its flagship property is the Ruby Creek molybdenum project located near Atlin, BC. The property contains an open pit reserve of 157.7 million tonnes grading 0.058% Mo using a 0.040% cut-off grade. This news release has been reviewed by Michael MacLeod, P.Eng. a qualified person pursuant to National Instrument 43-101 and the President and Chief Operating Officer, of the Company.

On Behalf of Management

ADANAC MOLYBDENUM CORPORATION

David Stone
Chief Executive Officer



Information Contact

David Stone

CEO

Head Office: Suite 200 – 2055 152 Street, Surrey, B.C. V4A 4N7

Telephone: 604-535-6834 Facsimile: 604-536-8411
Corporate Office: 2A 15782 Marine Drive, White Rock, B.C. V4B 1E6

Telephone: 604-531-9639 Facsimile: 604-531-9634
Email: info@adanacmoly.com

Adanac Corporate Update

Wednesday, June 4th 2008 - Vancouver, British Columbia (MOLY @ 32.90US/lb)



Adanac Molybdenum Corporation (TSX: AUA) (Pink Sheets: AUAYF) (Frank: A9N) reports that Mr. Michael MacLeod (President, Chief Operating Officer & Director) has resigned effective today to pursue other endeavors. The Board, management and staff of Adanac would like to explicitly recognize and thank Mr. MacLeod for his substantial contributions to Adanac and its Ruby Creek Project.

Dr. David Stone, Chief Executive Officer, has assumed the role of President of the Company.

Adanac Molybdenum Corporation is engaged in the exploration and development of mines to produce molybdenum and other ferro-alloy metals. Its flagship property is the Ruby Creek molybdenum project located near Atlin, BC. The property contains an open pit reserve of 157.7 million tonnes grading 0.058% Mo using a 0.040% cut-off grade.

On Behalf of Management

ADANAC MOLYBDENUM CORPORATION

David Stone,
Chief Executive Officer

 

ist das eine gute nachricht?kannste das mal in einem satz übersetzen.

MacLeod scheidet aus dem Unternehmen aus, David Stone übernimmt, da gibt´s nicht viel zu übersetzen. Ich bin momentan echt ein wenig angep.... über Adanac. Das Projekt Ruby Creek ist zweifelsohne ein sehr gutes, aber momentan sieht es eher nicht danach aus, als wenn die Longies hier davon partizipieren. Verfolge Adanac schon ne halbe Ewigkeit, aber für mich ist die weitere Verwässerung, die durch die Brückenfinanzierung stattfindet nicht der Kracher.
Würde ich momentan jemand zum Einstieg in Adanac raten? Eher nicht, Weil die Gesamtfinanzierung sich im Moment als sehr schwierig gestaltet. Man sieht es ja was alleine für die "kleine" Finanzierung an Zusagen seitens des Unternehmens gemacht wurden.
Da möchte ich gar nicht wissen, wie die Gesamtfinanzierung aussehen soll.
Mhm, kann aber Ende Sommer auch anders kommen, die Finanzierung wird stehen und der Kurs zieht an. Hier ist alles möglich, vom billigen Verkauf bzw. Übernahme des Projektes, Finanzierung noch dieses Jahr oder Stillstand!

Aber alles nur meine Meinung!

So ran an die Polen! :-)

ich bleibe aber drin.alte börsenweisheit,wenn alle raus sind sollte man reingehen.

Nun habe ich Adanac soweit verfolgt und meinen EK durch Nachkäufe weiter gesenkt, ich verbleibe hier auch solange bis wir produzieren ;-)

Gruss
Tageswert

entweder kommt da was oder es ist nur eine Kurserholung der letzten Tage 0,63CanD mit aufkommenden Volumen!

Many valuable contributions to the project have been provided by the Taku River Tlingit First Nation and its consultants, Atlin community, various provincial regulators and regulatory agencies, and Adanac and its consultants. The receipt of the Mines Act Permit is an example of the positive outcomes possible when First Nations, community, regulatory agencies, and industry work together for a common goal. Adanac Molybdenum Corp. recognizes the significance of this level of achievement, and sincerely appreciates the efforts made by each of these parties.

Commenting on the receipt of the Mines Act Permit, Dr. David Stone, Chief Executive Officer, says, "We are extremely proud of our team in achieving this important milestone for the Company. We look forward to working with the Atlin community and the TRTFN in advancing the Ruby Creek project forward to production."

Adanac Molybdenum Corporation is engaged in the exploration and development of mines to produce molybdenum and other ferro-alloy metals. Its flagship property is the Ruby Creek molybdenum project located near Atlin, BC. The property contains an open pit reserve of 157.7 million tonnes grading 0.058% Mo using a 0.040% cut-off grade.

On Behalf of Management

ADANAC MOLYBDENUM CORPORATION

Dr. David Stone, Chief Executive Officer

This release is not an offer of securities for sale in the United States.

Any securities that the Company may offer for sale in the future may not be offered or sold in the United States unless registered under the United States Securities Act of 1933 or unless an exemption from registration is available.

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.



Contact:
    Contacts:
    Adanac Molybdenum Corporation
    Edward Lee
    Executive Vice President
    (604) 535-6834
    (604) 536-8411 (FAX)
     
    Adanac Molybdenum Corporation
    Corporate Office
    (604) 531-9639
    (604) 531-9634 (FAX)
    Email: info@adanacmoly.com
    Website: www.adanacmoly.com
     


--------------------------------------------------
Source: Adanac Molybdenum Corporation

ADANAC MOLYBDENUM CORPORATION

David Stone, President & Chief Executive Officer

This release is not an offer of securities for sale in the United States.

Any securities that the Company may offer for sale in the future may not be offered or sold in the United States unless registered under the United States Securities Act of 1933 or unless an exemption from registration is available.

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.

Nun ist McLeod wieder da, ist doch toll, ein Film mit Höhen und Tiefen, wobei die Tiefen noch überwiegen. Mal sehen ob es ein Happy End gibt.

"On May 30, 2008, the Company announced the completion of the $80 million bridge financing. The company has now paid out all monies to the suppliers and contractors and cleared the outstanding liens against the company"

Das Management hält sich wie gewohnt bedeckt, was Ausblicke und Fortschritte in Sachen weiterer Bohrergebnisse oder Finanzierung betrifft, aber das sind wir als Shareholder ja gewohnt. Wenn die Finanzierung abgeschlossen ist, dann kann das Management sich noch so dumm anstellen bei der Veröffentlichung der News ( so wie wir es bereits gewohnt sind) denn dann kracht es hier gewaltig.
Mal sehen ob der Film Überlänge hat....

July 7, 2008

Natural Resource Extraction

Open-pit Ruby Creek mine gets approval from British Columbia government

Richard Gilbert

staff writer

The development of a $750-million mine at Ruby Creek in British Columbia’s northwestern corner is on track.

Vancouver-based Adanac Molybdenum Corporation has hired a consulting engineer and has received a permit the exploration and development of mines to produce molybdenum and other metals.

The company’s flagship property is the Ruby Creek molybdenum project, which is a low-grade bulk type of deposit, located at the headwaters of Ruby Creek near Atlin B.C.

The company announced that it retained a consulting engineer to provide technical, commercial and business advice. Earlier, the company announced the receipt of a provincial Mines Act permit for an open pit mine that would operate at 20,000 tonnes per day.

“This project is another example of the vibrant mining sector at work in British Columbia,” said Kevin Krueger, minister of state for mining.

“Ruby Creek mine will create approximately 550 jobs during the construction phase and approximately 250 direct jobs during the operations phase, greatly benefiting the local economy.”

The Mines Act permit is the most crucial approval issued by the B.C. government.

Along with other facets of development, it will allow for site preparation, earthworks, steel erection, mill construction and assembly, and open pit development.

Construction is expected to take about two years and, once in production, the mine is expected to operate for more than 20 years.

The Mines Act permit process was a subsequent step to the environmental assessment process, which focused on the potential impacts of the Ruby Creek project.

The province granted the project an environmental assessment certificate in 2007, following a review by B.C.’s Environmental Assessment Office.

The Taku River Tlingit First Nation participated in the technical working group and was involved in all aspects of the review.

Adanac embarked on a $750-million debt and equity financing initiative for the mine last October and expects to complete its financing this summer.

Adanac embarked on a $750-million debt and equity financing initiative for the mine last October and expects to complete its financing this summer.

Kennt einer das Lied: Das wird der Sommer unseres Lebens.... lalala :-)

Spätestens wenn die gesamte Finazierung durch ist und bekannt gegeben wird, dann knallen hier die Korken und Adanac sollte innerhalb kürzester Zeit bei zumindest nem Jahresumsatz von 250MioCanD liegen, bevor es dann weitergeht siehe TCM oder es kommt die Übernahme.
Das sind dann hier so um die 1.10€, wie gesagt kurzfristig. Langfristig sollte man sich dann die Konditionen der Finanzierung anschauen.

Press Release Source: Adanac Molybdenum Corporation


Adanac Molybdenum Corp.: Drilling Encounters More Mineralization Adjacent to the Permitted Open Pit
Thursday July 10, 6:00 am ET


VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Jul 10, 2008 -- Adanac Molybdenum Corp. ("Adanac") (Toronto:AUA.TO - News)(Other OTC:AUAYF.PK - News)(Frankfurt:A9N.F - News) ("the Company") is pleased to announce updated results from its ongoing exploration program adjacent the permitted open pit on the Ruby Creek molybdenum property, located near Atlin, British Columbia.
The 2007 diamond drill program consisted of 40 NQ holes (A-07-372 to A-08-411) totaling 14,019 meters (45,982 feet) that included exploration and condemnation drilling. Of these, 30 exploration holes (A-07-372 to A-07-383 and A-08-394 to A-08-411) were drilled to test for mineralization north of the Adera fault. Another 10 condemnation holes (A-07-384 to A-08-393) were located at the Company's mill-site and tailings impoundment area to confirm the absence of significant mineralization. Drill hole map is available at the company website at www.adanacmoly.com.

ADVERTISEMENT


The exploration drilling was used to test an initial strike length of over 400 meters and identified a continuous zone of mineralization within a 250 meter-wide drop block between the Adera fault and a sub parallel structure named the Molly Lake fault. This zone is outside, but adjacent to, the currently permitted open pit. This new zone extends to the northeast and is open to the southwest and to depth.

The eight holes listed below were drilled from pads arranged in two fences across the slope of the hill north of the Adera fault. In most cases, two holes were drilled from each pad; one vertical and one at a moderate angle to the northwest. Three drill-holes (A-07-372 to A-07-374) were described in a previous news release dated September 13, 2007.



--------------------------------------------------
Drill Hole #   Azimuth  Dip  Depth (m)  From (m)  To (m)  Length (m)   %Mo
--------------------------------------------------
A-07-375            30  -65    529.44    276.14  364.54        88.4  0.039

--------------------------------------------------
A-07-376           330  -60    529.74     133.5  352.96      219.46  0.062
includes                                 203.61  261.52       57.91   0.09
                                         215.8  218.85        3.05  0.294
                                        398.68  450.49       51.81  0.068
                                        410.87  413.92        3.05  0.297

--------------------------------------------------
A-07-378             0    0    399.29     108.2  111.25        3.05  0.274
                                        281.94  284.99        3.05  0.472
                                        312.42  367.28       54.86  0.057
includes                                 330.71  333.76        3.05  0.218

--------------------------------------------------
A-07-379             0    0    416.66     66.14   99.67       33.53  0.064
includes                                  87.48   90.53        3.05  0.239

--------------------------------------------------
A-07-380           330  -60     343.2     56.69   99.36       42.67   0.15
includes                                  84.12   87.17        3.05  0.689
                                         87.17   90.22        3.05  0.977
                                        175.56   343.2      167.64  0.062
includes                                 212.14  215.19        3.05  0.251
                                        294.44  297.49        3.05   0.65
                                        334.06  377.11        3.05  0.341

--------------------------------------------------
A-07-381           330  -50    364.24     77.72   80.77        3.05  0.313
                                        242.32  364.24      121.92  0.107
includes                                 242.32  245.37        3.05  0.329
                                        312.42  315.47        3.05  0.366
                                        315.47  318.52        3.05  0.267
                                        333.75   336.8        3.05  0.275
                                        348.99  352.04        3.05  1.036

--------------------------------------------------
A-07-382             0    0    395.63     81.69  157.89        76.2   0.11
                                         99.97  103.02        3.05  0.856
                                        103.02  106.07        3.05   0.51
                                        142.34  145.39        3.05  0.479

--------------------------------------------------
A-07-383             0    0     74.07     47.24   74.07       26.83  0.146
includes                                  53.34   56.39        3.05  0.728

--------------------------------------------------
(This is a stockwork Deposit and true widths are unknown at this time)
The Company is waiting for assays for a further eighteen holes and results will be released as they come available. Core assays are being carried out by Acme Analytical Laboratories Ltd. of Vancouver, BC.

A systematic program of condemnation drilling throughout the proposed mill-site and tailings impoundment area started in November and was completed over the winter. The drill holes show that the rocks underlying the area are essentially barren. It would appear the infrastructure will not impinge on any significant mineralization. The assays have not been released, but a report has been filed with the British Columbia Ministry of Energy, Mines and Petroleum Resources.

The drilling is contracted to Foraco Drilling Ltd. of Kamloops, B.C. and exploration is continuing. Adanac expects to complete an updated resource estimate sometime after the completion of the current drill program.

Adanac Molybdenum Corporation is engaged in the exploration and development of mines to produce molybdenum and other ferro-alloy metals. Its flagship property is the Ruby Creek molybdenum project located near Atlin, B.C. The property contains an open pit proven+probable reserve of 157.7 million tonnes grading 0.058% Mo using a 0.040% Mo cut-off grade.

This news release was reviewed by Dr. Robert Pinsent, Ph.D., P.Geo., a qualified person recognized under National Instrument 43-101.

On Behalf of Management

ADANAC MOLYBDENUM CORPORATION

David Stone, President & Chief Executive Officer

This release is not an offer of securities for sale in the United States.

Any securities that the Company may offer for sale in the future may not be offered or sold in the United States unless registered under the United States Securities Act of 1933 or unless an exemption from registration is available.

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.

To view the map accompanying this release please click on the following link: media3.marketwire.com/docs/adanac_map.pdf.



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



Contact:
    Contacts:
    Adanac Molybdenum Corp.
    David Stone
    President & CEO
    (604) 531-9639
    (604) 531-9634 (FAX)
    Email: info@adanacmoly.com
    Website: www.adanacmoly.com
     


--------------------------------------------------
Source: Adanac Molybdenum Corporation

The Company is pleased to announce that Mr. Dan Koyich is rejoining the Adanac Board of Directors. Mr. Koyich has been a director of public companies since 1997. He was previously a director of Adanac and is currently Vice-President Corporate Development for Adanac. Mr. Koyich has provided consulting services regarding investor relations, business administration and financing for publicly listed companies. Mr. Koyich will be a valuable addition to the board.

The Company has been conducting interviews with the assistance of C.J. Stafford and Associates to identify high quality senior management candidates to effectively move the Ruby Creek project forward through the final stages of financing and into production.

Adanac Molybdenum Corporation is engaged in the exploration and development of mines to produce molybdenum and other ferro-alloy metals. Its flagship property is the Ruby Creek molybdenum project located near Atlin, BC. The property contains an open pit reserve of 157.7 million tonnes grading 0.058% Mo using a 0.040% cut-off grade.

On Behalf of Management

ADANAC MOLYBDENUM CORPORATION

Paul Nelson, President & Chief Executive Officer

This release is not an offer of securities for sale in the United States.

Any securities that the Company may offer for sale in the future may not be offered or sold in the United States unless registered under the United States Securities Act of 1933 or unless an exemption from registration is available.

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.

FOR FURTHER INFORMATION PLEASE CONTACT:

Adanac Molybdenum CorporationPaul NelsonPresident & CEO(604) 531-9639(604) 531-9634 (FAX)Email: info@adanacmoly.comWebsite: www.adanacmoly.comThe Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Adanac Molybdenum Corporation is listed on the TSX and Frankfurt exchanges and owns the Ruby Creek Molybdenum Project in Northern British Columbia. The Company has advanced the project through feasibility studies, a production decision and has previously ordered long-lead equipment, completed permitting for construction, constructed a road to the site and secured $80 million in bridge financing. The Company is sourcing final construction funding and expects a site construction start in February 2009 and production in Q4, 2010.

Cautionary Notice: This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation and United States securities laws. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects", or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "does not anticipate", or "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", or "will be taken", "occur", or "be achieved". Forward-looking information is based on the opinions and estimates of management at the date the information is made, and is based on a number of assumptions and subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward looking information. Many of these assumptions are based on factors and events that are not within the control of the Company and there is no assurance they will prove to be correct. Factors that could cause actual results to vary materially from results anticipated by such forward looking information include risk factors discussed in the Annual Information Form for the year ended April 30, 2008 for the Company available at www.sedar.com. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking information.

These securities have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities law, and may not be offered or sold in the United States unless an exemption from registration is available.
Contact:
    Contacts:
    Adanac Molybdenum Corporation
    Peter R. Jones
    Chairman, President & CEO
    (604) 535-6834
    (604) 536-8411 (FAX)
    Email: info@adanacmoly.com
    Website: www.adanacmoly.com
     


--------------------------------------------------
Source: Adanac Molybdenum Corporation

Peter Jones, Adanac CEO, said, "The fish habitat creation shows how the Governments of British Columbia and Canada are working together to facilitate Ruby Creek production permitting." He also said, "We are in process of sourcing final construction funding which we are targeting to have in place before yearend."

About Adanac Molybdenum Corporation

Adanac Molybdenum Corporation is listed on the TSX and Frankfurt exchanges and owns the Ruby Creek Molybdenum Project in Northern British Columbia. The Company has advanced the project through feasibility studies, a production decision and has previously ordered long-lead equipment, completed permitting for construction, constructed a road to the site and secured $80 million in bridge financing. The Company is sourcing final construction funding and expects a site construction start in February 2009 and production in Q4, 2010.

Disclaimer

This release is not an offer of securities for sale in the United States.

Any securities that the Company may offer for sale in the future may not be offered or sold in the United States unless registered under the United States Securities Act of 1933 or unless an exemption from registration is available.

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.

     

Press Release Source: Adanac Molybdenum Corporation


Adanac Molybdenum Corporation: Ruby Creek-Comprehensive Study Switched to Screening Assessment
Tuesday September 30, 1:50 pm ET


VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Sep 30, 2008 -- Adanac Molybdenum Corporation ("Adanac or the Company") (Toronto:AUA.TO - News)(Other OTC:AUAYF.PK - News)(Frankfurt:A9N.F - News) was advised by the Government of Canada on September 29, 2008, that its Ruby Creek Molybdenum Open Pit Mine Project in northern British Columbia has changed permitting for production from a "Comprehensive Study" to a "Screening Level Assessment".
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The Project is permitted for construction by the Government of British Columbia and Adanac is currently sourcing project funding for a construction start in February 2009 with first production planned for October 2010.

Adanac is pleased that the Government of Canada has changed the permitting for production from a "Comprehensive Study" to a "Screening Level Assessment", as this will likely expedite permitting for production, while providing adequate environmental review as well as input from groups who may be impacted.

The Company expects completion of Federal permitting for production, including Schedule 2 Amendment to the Metal Mining Effluent Regulations, during 2009; which is well before planned production start in October 2010.

Commenting on the notification Peter Jones, Adanac Chairman and CEO said, "This is excellent news, reflecting the valuable support of the Taku River Tlingit First Nation and the Community of Atlin." He also said, "Construction permits are in place and the switch to screening for the production permit gives the Project more credibility during the fund raising stage."

Adanac-Implements Shareholder Rights Plan
Tuesday September 30, 5:11 pm ET


VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Sep 30, 2008 -- Adanac Molybdenum Corporation ("Adanac or the Company") (Toronto:AUA.TO - News)(Other OTC:AUAYF.PK - News)(Frankfurt:A9N.F - News) announces the implementation of a Shareholder Rights Plan to be presented and considered by shareholders at the Company's Annual and Special General Meeting of Shareholders to be held at the offices of the solicitors for the Company, Fasken Martineau DuMoulin LLP, 2900-550 Burrard Street, Vancouver, British Columbia on Wednesday, October 22, 2008 at 10:00 am.
The Company confirms the mailing to shareholders of the Annual and Special General Meeting materials and the Annual Report, the mailing of which were completed on September 24, 2008 and which are also available on SEDAR at www.sedar.com.

The 15 holes includes six vertical and angled holes drilled to the northwest of the feasibility defined open pit rim and eight vertical and angled holes drilled within the feasibility defined open pit, east of Moly Lake.

A number of the 15 holes completed the Company's drilling outline of an approximate 450m long by 250m wide block of mineralization northwest of the Adera fault. The holes show two distinct zones, one shallow and the other extending to depth. Notably higher-grade mineralization was found at depth at the southwest end of the block in drill-hole AD400 which returned 36.6 meters of 0.15% Mo and 198.1 meters of 0.13% Mo. The mineralization is open to the southwest.

Other significant intercepts includes:



Hole  AD-401    88.4 meters of 0.10% Mo and 259 meters of 0.70% Mo
Hole  AD-415    213.4 meters of 0.08% Mo
Hole  AD-416    182.9 meters of 0.10% Mo
The company is confident that recent drilling below the bottom of the feasibility study defined open pit and in the footwall of the Adera fault will add considerably to the Ruby Creek site mineralization, and that work north of the Adera fault has defined a substantial new resource in the northwest wall of the feasibility defined open pit.

Future News Releases

Adanac expects to release additional information on the 60 hole 2007/2008 program when assay results are available, which is expected prior to the end of 2008.

Adanac has engaged Golder Associates Ltd. to incorporate the information from the 2007/2008 drilling program and to update the mineral resource estimate for the Ruby Creek site. This work is currently underway and is expected to be complete one month following receipt of the final assays for the 60 hole program. Currently the report is expected prior to the end of 2008.

Golder Associates Ltd., previously determined the Ruby Creek deposit contains a NI 43-101 compliant "measured and indicated" resource of 212.9 million tonnes grading 0.063% Mo at a 0.04% Mo cut-off. This mineral resource does not include the drill results from the 2007/2008 drilling program.

CEO Comment

Peter R. Jones, Adanac Chairman and CEO, said, "The high grade results continue to be very encouraging and I look forward to the new NI 43-101 report, addition mineralization will enhance our robust economics and open opportunities to further extend mine life or production rate." He also said, "We plan to complete project funding this year, start site construction in early 2009 with a production start in Q4 2010."

Qualified Person

This news release was reviewed by Robert Pinsent, PhD., P. Geo., a qualified person recognized under National Instrument 43-101.

Attachments:

1. Ruby creek 2007/2008 - 60 hole drilling information table

2. Ruby Creek 15 hole location plan

adanacmoly.com/_resources/...ement_Presentation_10_21_2008.pdf

Frohe Weihnachten und einen guten Rutsch ins neue Jahr!

einer dabei...?

GW....

weiß einer was.

Stück für Stück nach oben

...bin aber angesichts des Moly-Hypes reingegangen in den kleinen Bruder.

Außerdem haben sie eine sehr schöne Web-Site!

;-)
Good Luck
Vers