Adanac Signs Agreement for Ruby Creek Project Construction Camp

Adanac Molybdenum Corporation (AUA: TSX.V, Pink Sheets: AUAYF, Frank: A9N) is pleased to announce the company has signed an agreement with PTI Premium Camp Services of Edmonton, Alberta for the supply of the construction camp for the Ruby Creek Project. Adanac and PTI Premium Camp Services are committed to providing the construction workforce high quality and comfortable accommodations.

Adanac and the Engineering and Procurement Contractor AMEC Americas Ltd. have worked together to accelerate the specification and bidding of the camp and long delivery process equipment to allow the Ruby Creek Project to reach production on schedule in the first quarter of 2009.

Detailed engineering on this 20,000 tonne per day open pit mine near Atlin, B.C. is on schedule and construction slated to commence in July 2007.

On Behalf of Management

ADANAC MOLYBDENUM CORPORATION

Michael MacLeod,
President & Chief Executive Officer

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.