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Adanac Moly hires Wardrop to use HPGR at Ruby Creek

2006-03-23 07:34 ET - News Release

Mr. Larry Reaugh reports

ADANAC TO PURSUE HIGH PRESSURE GRINDING ROLLS 'HPGR' TECHNOLOGY FOR RUBY CREEK MOLYBDENUM PROJECT-ECA PERMIT FILED

Adanac Moly Corp. has extended its contract with Wardrop Engineering Inc. to include definitive engineering work in support of high-pressure grinding rolls (HPGR) technology for its Ruby Creek project near Atlin, B.C.

The change order, with a value of $160,000 to its existing contract with Wardrop, is acceptance of the proposal to extend work currently under way. The continuing efforts will include one or more bulk grinding tests in Europe to confirm results of the initial test done December, 2005, and detailed engineering to establish the most suitable means for inclusion of HPGR within the concentrator proposed for Ruby Creek. This technology has the potential to reduce power consumption in the proposed 20,000-tonne-per-day concentrator by 30 per cent or more when compared with conventional SAG milling. Additional reduction of power in the subsequent ball milling stage may also be attainable but the probable increase in overall mill availability by as much as 5 per cent (91 per cent to 96 per cent) is of high economic significance.

The company is committed to the development of the most up-to-date and economically productive operation at its Ruby Creek property near Atlin, B.C., which will have significant benefits for both the First Nations and local communities as well as providing a source of income to the British Columbia government.

The company has filed the environmental certificate application with the British Columbia Environmental Assessment Office to be completed within 180 days. The environmental impact assessment was prepared under project -- specific terms of reference, which were developed by a working group consisting of government agencies and the Taku River Tlingit First Nation (TRTFN).

We seek Safe Harbor.

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