Taku River Tlingit First Nation and Adanac Sign Stage One Work Plan

July 14, 2005 - Vancouver, British Columbia

Adanac Moly Corp. (AUA:TSX.V) ("Adanac") is pleased to announce the agreement and signing of a three month work plan initiative presented by the Taku River Tlingit First Nation ("TRTFN"). TRTFN is examining Adanac's Ruby Creek Project independent of the British Columbia Environmental Assessment Process ("BCEAO"). Adanac Moly Corp. acknowledges and takes seriously TRTFN's rights and title within their territory, and as a gesture of good will, is fully funding TRTFN's efforts in this preliminary stage of the project review. The first phase of the project examination is expected to be completed by August 2005.

Adanac submitted the Ruby Creek Project Description Report to the British Columbia Environmental Assessment Office and the Canadian Environmental Assessment Agency on May 13, 2005, to initiate the environmental review process. The work with TRTFN precedes the BCEAO process, but may contribute to the provincial review.

To date Adanac and the TRTFN have committed to develop a mutually cooperative, professional, and transparent relationship to progress the Ruby Creek Project while respecting TRTFN rights and title within TRTFN territory.

On Behalf of Management

ADANAC MOLY CORP.

"Larry W. Reaugh"

Larry W. Reaugh,
President and Chief Executive Officer

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