Adanac Receives
Environmental Certificate
For Ruby Creek
Project
Vancouver,
British Columbia -- September 12, 2007 -- Adanac Molybdenum Corporation (TSX: AUA)
(OTC: AUAYF) (FRANKFURT: A9N) is pleased to confirm the
British Columbia government has issued an Environmental Assessment Certificate
for the company's Ruby Creek molybdenum project.
"We are pleased
that the government has deemed our plan for the Ruby Creek project to be in
compliance with its regulatory requirements," said Michael E. MacLeod,
President and Chief Executive Officer. "The Certificate is a major milestone in
Adanac's progress toward the development and operation of Ruby Creek, which we expect
to be the first new, large-scale, primary molybdenum mine in 25 years."
Integral to the
comprehensive review of the project was input from the community of Atlin and
the Taku River Tlingit First Nations, which participated in all aspects of the
examination. "We are pleased that the community and First Nations supported the
application and we look forward to continuing this healthy relationship
throughout the life of the mine," Mr. MacLeod said.
About Adanac
Molybdenum
Adanac
Molybdenum Corporation is engaged in the exploration and development of mines
to produce molybdenum and other ferro-alloy metals. Adanac's flagship property
is the Ruby Creek molybdenum project, located near Atlin, B.C. The property
contains open pit reserves of 143.7 million tonnes grading 0.059% Mo at a
0.040% Mo cut-off grade. Procurement of long lead time equipment has been
completed and onsite construction is scheduled to begin upon receipt of
applicable permits early in the fall of 2007.
Information Contact
Michael MacLeod
President & CEO
Head Office: Suite
200 - 2055 152 Street, Surrey,
B.C. V4A 4N7
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. 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.
www.adanacmoly.com