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ADANAC ANNOUNCES
ORGANIZATIONAL CHANGES
March 27, 2008 - Vancouver, British Columbia
The Board of
Directors of Adanac Molybdenum Corp.
(TSX: AUA) (PINKSHEETS: AUAYF) (FRANKFURT: A9N) is pleased to announce that Mr.
David Stone has accepted appointment
as Chief Executive Officer of the company. Mr. Stone has been an independent
director of the company for two years, and his appointment puts to full use his
extensive mining and corporate experience to enhance corporate governance and
aggressively advance the company�s Ruby Creek Molybdenum Project.
Mr. Michael
MacLeod will continue as company President and Chief Operating Officer. The
reduction in his corporate responsibilities will allow Mr. MacLeod to
concentrate on securing the full project funding required to build the Ruby
Creek mine, processing facilities and related infrastructure.
To provide
continuity and a seamless transition, Mr. Larry Reaugh
has agreed to step down as Executive Chairman of the Board and as a director of
the company. Mr. Reaugh will remain active in the affairs of the company,
providing the benefits and insights of his long experience running junior
mining companies as a strategic consultant to management and the Board. The
Board, management and staff of Adanac would like to explicitly recognize and
thank Mr. Reaugh for his substantial contributions as the initiator and driving
force behind Adanac and its Ruby Creek Project.
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.
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
The
Toronto Stock Exchange has not reviewed and does not accept responsibility for
the adequacy or accuracy of this release.
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