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Wednesday January 03 2007 - News Release

Mr. Michael MacLeod reports:

MR. RICK ALEXANDER JOINS ADANAC AS VICE PRESIDENT, PROJECT DEVELOPMENT

Rick Alexander has joined Adanac Molybdenum Corp. as vice-president of project development.

Mr. Alexander is a registered professional engineer in British Columbia with over 25 years experience in the development and operation of mining projects. His experience will be of significant benefit in the development of the world-class Ruby Creek project.

Since graduation from the University of Alberta with a BSc in mechanical engineering, Mr. Alexander has successfully directed all phases of project development from feasibility studies through to managing detailed engineering procurement and construction management activities. His experience includes greenfield and brownfield projects internationally in Russia, the former Soviet Union, Central and South America, and Australia, and extensive experience in Northern British Columbia, Alberta and the Northwest Territories. He was instrumental in the development of Adanac's feasibility report for its Ruby Creek molybdenum project.

The company welcomes Mr. Alexander onto the team. The company will continue to assemble a strong team of professional management over the next several months that will build and operate the mine.

The Ruby Creek molybdenum project is a proposed open-pit molybdenum mine situated 24 kilometres northeast of Atlin, B.C., which would operate at 20,000 tonnes per day of ore for 20-plus years. The company believes that the proposed mine will minimize any long-term environmental effects and maximize socio-economic benefits to the local community, the Taku River Tlingit First Nation and British Columbia.

We seek Safe Harbor.

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