Adanac Molybdenum Corporation AUAYF

BLE UP 35% TODAY

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Blue Pearl Arranges Private Placement 17:32 EST Thursday, January 12, 2006 TORONTO (Business Wire) -- Blue Pearl Mining (TSX:BLE)(TSX:BLE.WT)(FRANKFURT:A6R) is pleased to announce that it has arranged a private placement of 500,000 Units with Berner & Company Inc. at a price of $0.80 per Unit. Each Unit of the private placement comprises one common share, one "A" warrant and 0.4 of one "B" warrant. Each whole "A" warrant entitles the holder to purchase one common share at a price of $1.00 and each whole "B" warrant entitles the holder to purchase one common share at a price of $0.80 for two years from the closing of the private placement. The private placement is expected to close within 45 days, subject to acceptance for filing by the Toronto Stock Exchange. Blue Pearl is a Canadian mineral resource company focused on developing the Davidson molybdenum deposit near Smithers, B.C. Shares outstanding: 43,069,382 The TSX Venture Exchange does not accept responsibility for the ad equacy or accuracy of this release. Blue Pearl Mining Ltd. (TSX:BLE) (TSX:BLE.WT) Blue Pearl Mining Ltd. Ian McDonald Chairman & CEO [phone], toll free: 1 (800) 827-099 OR Blue Pearl Mining Ltd. Jim Borland Investor Relations Director [phone], toll free: 1 (800) 827-099 OR Renmark Financial Communications Inc. Christina Lalli [phone] [e-mail]