MAJOR MINING EQUIPMENT SELECTED AND ORDERED
FOR RUBY CREEK PROJECT
September 28, 2007 -- Vancouver, British Columbia -- Adanac
Molybdenum Corporation (TSX: AUA) (PINK SHEETS: AUAYF) (FRANKFURT: A9N) is pleased to announce letters of award have been
issued to four Canadian companies for the supply of major items of mining
equipment for the Ruby Creek Molybdenum Project, situated near Atlin, B.C.
The
suppliers and equipment to be provided are as follows:
�
Transwest Mining Systems will supply a PC4000 hydraulic
shovel with spare bucket and spare truck body and six HD1500 haul trucks (200 tonne capacity);
�
Finning (Canada) Ltd. will provide two Caterpillar
16M motor graders;
�
Coneco Canada Ltd. has been selected to supply three
wheel loaders (WA500, WA600 and WA900L), one excavator (PC300 HD) and two bulldozers
(D375); and
�
Atlas Copco Canada Ltd.
will provide one diesel-powered rotary drill (PV271), together with drill string
and rotary bits.
The
value of the machinery is almost $23 million, bringing the total value of
equipment purchased to $93 million. The
items are scheduled to be onsite by the summer of 2008.
�The equipment being ordered now represents another major step
toward the commencement of construction of our open-pit molybdenum mine,� said Michael
MacLeod, President & Chief Executive Officer of
Adanac.
The action
follows the awarding of an Environmental Assessment Certificate for the project
from the British Columbia
government on September 10, 2007. The
clearance was given following extensive consultations with the Taku River Tlingit First Nation and the community of Atlin.
Federal
agencies were fully involved in the environmental review process, and approval through
the Department of Fisheries and Oceans is expected before the end of October.
Specific
permit applications to upgrade the existing access road are under review by
provincial regulatory agencies, with field work to begin immediately upon
receipt of approvals.
Road work
is scheduled to start in early October and site preparation will follow shortly
afterward. Construction will continue
through the winter of 2007-2008. Startup
and commissioning of the 20,000 tonne/day
concentrator is scheduled for the first quarter of 2009.
On Behalf of Management
ADANAC MOLYBDENUM
CORPORATION
Michael MacLeod
President & Chief Executive Officer
Information Contact
Michael MacLeod
President & CEO
Head Office: Suite 200 � 2055 152
Street, Surrey, B.C. V4A 4N7
Corporate Office: 2A 15782
Marine Drive, White Rock, B.C. V4B 1E6
Telephone: 604-531-9639 Facsimile: 604-531-9634
Email: info@adanacmoly.com
The
Toronto Stock Exchange has not reviewed and does not accept responsibility for
the adequacy or accuracy of this release.
www.adanacmoly.com