ADANAC MOLYBDENUM CORPORATION

Adanac Molybdenum announced an updated Mineral Resource Estimate for its 100%-owned Ruby Creek molybdenum deposit located in northern British Columbia, Canada. At a cut-off grade of 0.04% molybdenum, the resources are now estimated at 43.6 million tonnes at an average grade of 0.078% Mo (with 75.4 million pounds of contained Mo) classified as Measured Mineral Resources, 231.7 million tonnes at an average grade of 0.065% Mo (with 332.6 million pounds of contained Mo) classified as Indicated Mineral Resources, and an additional 39.1 million tonnes at an average grade of 0.062% Mo (with 53.7 million pounds of contained Mo) classified as Inferred Mineral Resources.