Adanac Corporate Update

Adanac Molybdenum Corporation (TSX: AUA) (Pink Sheets: AUAYF) (Frank: A9N) reports that Mr. Michael MacLeod (President, Chief Operating Officer & Director) has resigned effective today to pursue other endeavors. The Board, management and staff of Adanac would like to explicitly recognize and thank Mr. MacLeod for his substantial contributions to Adanac and its Ruby Creek Project.

Dr. David Stone, Chief Executive Officer, has assumed the role of President of the Company.

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

David Stone,
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.