Adanac Molybdenum Corporation

Published : October 01st, 2008

Ruby Creek Project - Exploration Update

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Ruby Creek Project � Exploration Update


September 30, 2008 - Vancouver, British Columbia

Adanac Molybdenum Corp. ("Adanac or the Company" - TSX: AUA, Pink Sheets: AUAYF, Frankfurt: A9N) announces the results for 15 holes from its Ruby Creek 2007/ 2008 diamond drilling program.

2007/2008 Diamond Drill Program


The program includes 60 holes starting at AD372:


AD372 to AD374 results previously reported on September 13, 2007

AD375 to AD383 results previously reported on July 10, 2008

AD384 to AD393 condemnation holes

AD394 to AD402 results reported in this news release

AD403 to AD410 awaiting assay determinations

AD411 to AD416 results also reported in this news release

AD416 to AD431 awaiting assay determinations


The table attached to this news release provides location coordinates for all 60 holes (AD372 through AD431) and includes those reported in prior news releases - where coordinates were omitted. The drill-hole locations have recently been surveyed by Underhill Geomatics of Whitehorse.


15 Hole Update in this Release


The attached drill map shows the 15 holes for which assays are reported in this news release. These include holes AD394 through AD402 (9 holes) and AD411 through AD416 (6 holes). The assays and other information are provided in the attached table.


The 15 holes includes six vertical and angled holes drilled to the northwest of the feasibility defined open pit rim and eight vertical and angled holes drilled within the feasibility defined open pit, east of Moly Lake.


A number of the 15 holes completed the Company�s drilling outline of an approximate 450m long by 250m wide block of mineralization northwest of the Adera fault. The holes show two distinct zones, one shallow and the other extending to depth. Notably higher-grade mineralization was found at depth at the southwest end of the block in drill-hole AD400 which returned 36.6 meters of 0.15% Mo and 198.1 meters of 0.13% Mo. The mineralization is open to the southwest.


Other significant intercepts includes:


Hole AD-401 88.4 meters of 0.10% Mo and 259 meters of 0.70% Mo

Hole AD-415 213.4 meters of 0.08% Mo

Hole AD-416 182.9 meters of 0.10% Mo


The company is confident that recent drilling below the bottom of the feasibility study defined open pit and in the footwall of the Adera fault will add considerably to the Ruby Creek site mineralization, and that work north of the Adera fault has defined a substantial new resource in the northwest wall of the feasibility defined open pit.


Future News Releases


Adanac expects to release additional information on the 60 hole 2007/2008 program when assay results are available, which is expected prior to the end of 2008.


Adanac has engaged Golder Associates Ltd. to incorporate the information from the 2007/2008 drilling program and to update the mineral resource estimate for the Ruby Creek site. This work is currently underway and is expected to be complete one month following receipt of the final assays for the 60 hole program. Currently the report is expected prior to the end of 2008.


Golder Associates Ltd., previously determined the Ruby Creek deposit contains a NI 43-101 compliant �measured and indicated� resource of 212.9 million tonnes grading 0.063% Mo at a 0.04% Mo cut-off. This mineral resource does not include the drill results from the 2007/2008 drilling program.


CEO Comment

Peter R Jones, Adanac Chairman and CEO said "the high grade results continue to be very encouraging and I look forward to the new NI 43-101 report, addition mineralization will enhance our robust economics and open opportunities to further extend mine life or production rate�. He also said "we plan to complete project funding this year, start site construction in early 2009 with a production start in Q4 2010".

Qualified Person

This news release was reviewed by Robert Pinsent, PhD., P. Geo., a qualified person recognized under National Instrument 43-101.


1.     <!--[endif]-->Ruby creek 2007/2008 - 60 hole drilling information table

2.     <!--[endif]-->Ruby Creek 15 hole location plan

About Adanac Molybdenum Corporation

Adanac Molybdenum Corporation is listed on the TSX and Frankfurt exchanges and owns the Ruby Creek Molybdenum Project in Northern British Columbia. The Company has advanced the project through feasibility studies, a production decision and has previously ordered long-lead equipment, completed permitting for construction, constructed a road to the site and secured US$80 million in bridge financing. The Company is sourcing final construction funding and expects a site construction start in February 2009 and production in Q4, 2010.

Information Contact

Peter R. Jones � Chairman & CEO
Suite 200 � 2055 152 Street, Surrey, B.C. V4A 4N7
Telephone: 604-535-6834 Facsimile: 604-536-8411




Cautionary Notice: The Reader is cautioned that the full Cautionary Notice is not attached to this email. The reader is requested to access the news release on the Company�s website at or at SEDAR at to read the full Cautionary Notice. The full Cautionary Notice is not attached as the recipient�s spam filters frequently block receiving emails containing the full Cautionary Notice.



To view tables and map, please click on link below:



It was sent from: Adanac Molybdenum Corp., 200 2055 152nd Street, Surrey, BC V4A 4N7 , Canada.

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Adanac Molybdenum Corporation

ISIN : CA00652E5065
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Adanac Molybdenum is based in Canada.

Adanac Molybdenum develops copper and molybdenum in Canada, and holds various exploration projects in Canada.

Its main asset in development is RUBY CREEK in Canada and its main exploration properties are B&C SPRINGS/ NEVADA BC, CUCOMUNGO and PINE NUT in Canada.

Adanac Molybdenum is listed in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 5.3 millions as of today (US$ 5.2 millions, € 4.0 millions).

Its stock quote reached its lowest recent point on April 09, 2009 at CA$ 0.02, and its highest recent level on March 04, 2011 at CA$ 9.00.

Adanac Molybdenum has 25 462 000 shares outstanding.

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In the News and Medias of Adanac Molybdenum Corporation
11/7/2007 640 million gamble on molybdenum mine
Financings of Adanac Molybdenum Corporation
12/10/2007Announces $15 million Equity Offering
Option Grants of Adanac Molybdenum Corporation
3/17/2008 Incentive Stock Options
Nominations of Adanac Molybdenum Corporation
9/22/2009 Announces Resignation of President and CEO and Appointment ...
8/5/2008Senior Management Core Team Appointment
Financials of Adanac Molybdenum Corporation
2/28/2011Announces Emergence from CCAA
Project news of Adanac Molybdenum Corporation
5/29/2009(Ruby Creek)Releases Updated 2009 NI 43-101 Mineral Resource Report for ...
1/20/2009(Ruby Creek)Ruby Creek Project - Exploration Update
9/30/2008(Ruby Creek)Comprehensive Study Switched to Screening Assessment
10/1/2008(Ruby Creek)Ruby Creek Project - Exploration Update
7/10/2008(Ruby Creek)Drilling Encounters More Mineralization Adjacent to the Perm...
6/24/2008(Ruby Creek)Update and Ruby Creek Project
1/28/2008(Ruby Creek) Focusing on Critical Path
12/24/2007(Ruby Creek)Ruby Creek Receives Approval to Begin Onsite Construction
11/7/2007(Ruby Creek) Construction Begins at Ruby Creek
Corporate news of Adanac Molybdenum Corporation
1/25/2011Outlines New Common Share Distribution
8/28/2009Obtains Extension of Stay Period under CCAA to November 30, ...
7/6/2009Obtains Extension of Stay Period under CCAA
1/20/2009Completes Initial Restructuring
1/19/2009Gains Extension to Creditor Protection
12/20/2008to Evaluate Strategice Alternatives Under CCAA Protection
11/14/2008Presentation at Rodman and Renshaw Conference in New York
11/7/2008Interview with Mining Industry TV Airing Times
9/30/2008Implements Shareholder Rights Plan
9/19/2008Website Update and Reconstruction
8/8/2008Fish Habitat Reserve Facilitates Ruby Creek Tailings Permit
7/14/2008Management Reorganization
6/20/2008Receives BC Mines Act Permit
6/4/2008Corporate Update
5/28/2008Closes Bridge Financing
5/2/2008Corporate Update
4/16/2008Announces $80 Million Bridge Financing Offer
3/27/2008Announces Organizational Changes
3/19/2008Ruby Creek Project Update
1/29/2008New Interview Posted on
1/17/2008MGI Securities Inc - INITIATING COVERAGE - Adanac Molybdenum...
12/31/2007Announces Completion of Previously Announced Financing
12/21/2007Announces Final Terms To Previously Announced Financing
10/17/2007Engages Investment Bank For Ruby Creek Debt Financing
9/11/2007Receives Environmental Certificate
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