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Adanac Engages IR Firm for European Coverage

Mr. Larry Reaugh reports

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 15, 2006) - Adanac Moly Corp. (TSX VENTURE:AUA)(PINK SHEETS:ANCGF)(FWB:A9N) ("Adanac") is pleased to announce it has entered into a comprehensive Investor Relations package with Value Relations located in Frankfurt, Germany.

Value Relations is a full service Investor Relations firm with eight full-time employees and an extensive contact list of consultants able to deliver complete coverage of the emerging Adanac story. Adanac has entered into an IR Agreement for a period of one year budgeted at US$20,000 per quarter for a total of US$80,000 for the year. In addition the company will grant Value Relations 100,000 stock options at a closing price on the date the IR Agreement is signed. The IR Agreement and stock options are subject to Regulatory Approval.

Value Relations shall act as Adanac's strategic investor relations consultant in Germany, Austria and Switzerland and will assist Adanac in structuring, scheduling, coordinating and organizing the following services:

- consultant in all issues concerning investor relations in Germany

- news release distribution of investor related material and news releases in Germany

- research coverage for Adanac

- will provide corporate information and presentation material in cooperation with Adanac at a minimum three road shows in Germany.

Listing on the Frankfurt Stock Exchange has greatly increased the profile of Adanac's Ruby Creek Molybdenum Project. Both institutional and private European investors have a substantial appetite for investing in companies exploring and developing projects in the base metal molybdenum sector.

ADANAC'S Ruby Creek Molybdenum Project it is a proposed open pit molybdenum mine near Atlin, B.C. It is being developed to operate at 20,000 tonnes via the concentrator per day for more than 20 years. The company believes this is a sound project with minimal long term environmental effects and significant positive socio-economic benefits to the local community, Taku River Tlingit First Nation people and the province of British Columbia.

On Behalf of Management

ADANAC MOLY CORP.

Larry W. Reaugh, 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.

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