Comprehensive Review Underway

Adanac Molybdenum Corporation (TSX: AUA) (Pink Sheets: AUAYF) (Frank: A9N) is pleased to announce that the federal comprehensive study under the Canadian Environmental Assessment Act is now underway. Fisheries and Oceans Canada, as the federal responsible authority for the project assessment, now invites the public to comment, until May 3, 2008, on the proposed scope of the project, the proposed factors to be considered, the proposed scope of those factors and the ability of the comprehensive study to address issues relating to the project.

"This is another step forward in the development of the Ruby Creek Project", says Dr. David Stone, Adanac’s new CEO. "This kicks-off the comprehensive study, and Adanac will continue to work diligently with the responsible authority, community and other stakeholders, and Taku River First Nation to successfully complete the study process in a timely manner".

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

Michael MacLeod,
President & Chief Operating 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.