Adanac Announces Organizational Changes

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

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.