Adanac Molybdenum Corporation: Ruby Creek Forges Ahead

Equipment Purchased

VANCOUVER, BRITISH COLUMBIA–(Aug. 2, 2007) – Adanac Molybdenum Corporation (“ADANAC”) (TSX:AUA)(PINK SHEETS:AUAYF)(FRANKFURT:A9N) is pleased to announce the Company, in conjunction with its engineering contractor Amec Americas Ltd (“AMEC”), has issued letters of award to Metso Minerals Industries Inc. (“METSO”) for the supply of major items of equipment for the flotation circuit at the Ruby Creek 20,000 tonne per day molybdenite concentrator.

Metso will supply all the flotation cells for the roughing and cleaning stages, the regrind tower mill and the column cell for the final cleaning stage as well as the thermal drier for the final concentrate product. The value of these awards is approximately six million dollars (CDN), bringing the total amount committed for equipment to approximately $68 million. All major items for the concentrator are now secured as the project schedule approaches the construction phase.Environmental and Socio-Economic Assessment

On July 25, 2007, pursuant to the British Columbia Environmental Assessment Act, the Environmental Assessment Certificate Application was forwarded to the Minister of Environment and to the Minister of Energy, Mines, and Petroleum Resources for final review. The Company is optimistic that the combined efforts of government and its regulatory agencies, the Taku River Tlingit First Nation, and the Atlin Community will lead to a positive result.

On Behalf of Management

ADANAC MOLYBDENUM CORPORATION

Michael MacLeod, President & 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 Stock Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission.

The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

For more information, please contact

Adanac Molybdenum Corporation
Michael MacLeod
President & Chief Executive Officer
(604) 531-9639
(604) 531-9634 (FAX)
Email: info@adanacmoly.com
Website: www.AdanacMoly.com