ADANAC RECEIVES BC MINES ACT PERMIT
June 20, 2008 - Vancouver, British Columbia
Adanac Molybdenum Corporation (TSX: AUA) (Pink Sheets: AUAYF) (Frank: A9N) (�Adanac� or the �Company�) is pleased to announce the receipt of the provincial Mines Act Permit for its proposed 20,000 tonne per day Ruby Creek Molybdenum Project (�the project�) located near Atlin, British Columbia.
The Mines Act Permit is the most crucial approval issued by the Province of British Columbia. Along with other facets of development, it will allow for site preparation, earthworks, steel erection, mill construction and assembly, and open pit development.
The Mines Act Permit process was the subsequent step to the Environmental Assessment process which focused on the potential impacts of the Ruby Creek Project. The Northwest District Mine Review Committee (NWDMRC) met on a regular basis and concluded the project represented a viable economic opportunity with benefits to the local community while long term effects on the environment are projected to be minimal.
�Ruby Creek is an example of the vibrant mining sector at work in British Columbia,� said Minister of State for Mining Kevin Krueger. �The road is already in excellent working condition, and the operators are displaying that they are environmentally responsible in their actions to protect the fish habitat in Surprise Lake�.
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
Information Contact
Edward Lee
Executive Vice President
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
This release is not an offer of securities for sale in the United States.
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www.adanacmoly.com