VANCOUVER, BRITISH COLUMBIA - (CCNMatthews - Feb. 6, 2007) - Adanac Molybdenum Corp. ("Adanac") (TSX VENTURE:AUA)(PINK SHEETS:AUAYF)(FWB:A9N) is pleased to announce that Mr. Mike Petrina has joined Adanac as General Manager for the proposed Ruby Creek Molybdenum Mine.
Mr. Petrina is a professional mining engineer registered in British Columbia and holds an MBA from the University of Athabasca. Having spent over 25 years in the mining industry in open pit and underground operations comprising engineering and supervision, project development, consulting and contracting, his experience is a great asset for the development and operation of the proposed Ruby Creek open pit mine and concentrator.
The Company welcomes Mr. Petrina to the organization, and continues to work on assembling the strong team of professional management that will build and operate the mine.
The Ruby Creek Molybdenum Project is a proposed open pit molybdenum mine situated 24 kilometers northeast of Atlin, BC, which would operate at 20,000 tonnes per day of ore for more than twenty years. The Company believes that the proposed mine will minimize any long term environmental effects and maximize socio-economic benefits to the local community, Taku River Tlingit First Nation and British Columbia.
On Behalf of Management
ADANAC MOLYBDENUM CORPORATION
Michael MacLeod, President and Chief Executive Officer
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 Venture Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission.
The TSX-Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Website: www.AdanacMoly.com
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