Adanac Moly To Begin Ruby Creek Diamond Drill Program

2005-06-28 12:51 ET - News Release

5,000 METER DIAMOND DRILL PROGRAM TO COMMENCE (MOLY @$35.00 (US)/LB)

Mr. Larry Reaugh reports

Adanac Moly Corp. is starting a 5,000-metre (16,400-foot) diamond drill program this week on the Ruby Creek molybdenum project, located approximately 24 kilometres northeast of Atlin, B.C.

Currently, the company is completing a socio-economic/environmental study, scheduled to be completed in September, a prefeasibility to be completed by the end of June and a feasibility study to be completed in the fall of this year on its National Instrument 43-101-compliant 205.1-million-tonne measured as indicated resource grading 0.062 per cent Mo.

Drilling is scheduled to begin within the pit perimeter in order to upgrade the existing resource, provide additional samples for metallurgical testing and provide information for geotechnical studies on pit slope stability.

Exploration drilling will be carried out south and east of the existing pit on anomalulous molybdenum geochemical targets previously outlined by past operators as well as work performed by Adanac in the 2004 season.

The diamond drill program will be managed by Robert Pinsent, PhD, PGeo, a qualified person under NI 43-101.

Results will be reported as they are received.

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