FOR IMMEDIATE RELEASE

AMEC PLC RECEIVES RUBY CREEK DATA FOR NI 43-101 REPORT (MOLY @ $29.00(US)/lb)

February 8, 2005 - Vancouver, British Columbia

Adanac Moly Corp. (AUA-TSX.V) has supplied the drill hole data required by AMEC PLC for a NI 43-101 Resource Study which will upgrade the historical estimate of 151,931,000 tonne's grading .063% Mo as follows:

• Kerr Addison Feasibility Study completed April 1971 including Adanac Mining and Development work from 1968 and 1969.
• Placer Development studies and reports for their work on the property from 1978 to 1982;
• Drill hole files for the 36 due diligence holes drilled in 2004 and assayed by ACME. These files contained simplified geological information.
• Check assay information prepared by CHEMEX and ACME.
• Drill hole files for holes drilled by Climax Molybdenum in the mid 1970s.
• Assay information for the rounds from the underground drifts, cross cuts and raises conducted by Kerr Addison in 1970.
• Specific gravity information prepared from the 2004 drill holes.

The historical pit design developed by Placer Development now contains assays from 248 diamond drill holes totaling 40,981 metres (134,418 ft) and 1,116 metres (3,660 ft) of underground development.

AMEC PLC is scheduled to complete their NI 43-101 resource study by late March 2005. The study will provide a measured and indicated resource estimate, which will be utilized in the feasibility study to commence immediately upon completion of the study.

On Behalf of Management

ADANAC MOLY CORP.

Website: www.adanacmoly.com

"Larry W. Reaugh"

Larry W. Reaugh,
President and Chief Executive Officer

Trading Symbol: AUA-TSX-Venture

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The TSX-Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. 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 Venture Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission.