Adanac Molybdenum Corporation AUAYF

Ruby Creek Environmental Assessment

[msawyer5]

Hello All... Following up from my previous posts, the Department of Fisheries and Oceans (DFO), the federal agency that is conducting the environmental review of the Ruby Creek mine as per the provisions of the Canadian Environmental Assessment Act (CEAA), has now decided that the environmetal review for the Ruby Creek mine will be bumped up to the comprehensive Study level. This is a direct result of the Federal Court decision with respect to the Red Chris mine. The timeline for a comphrehensive study is open for debate but in my experience, comprehensive studies can take 4 to 6 months to complete, maybe longer. For comparison purposes, the federal court Red Chris decision was issued on September 25, 2007 and as of today, the process is still ongoing. See https://www.ceaa.gc.ca/050/viewer_e.cfm?cear_id=36057 While AUA has assembled most of the information that will be needed for the new level of assessment, there is now a mandatory requirement for public participation and this will take time and impart risks. With the Red Chris victory under their belt, MiningWatch (the group that launched the Red Chris suit), will likely be watching how DFO conducts the comprehensive study on Ruby Creek. A potentially more significant factor is that CEAA has a prohibition against taking any steps to advance a project until the environmental assessment is completed. Therefore, any ongoing site preparation work may be illegal under the federal legislation. Under the circumstance, not what AUA investors would have liked to hear... Best regards Mike Sawyer ps. If the voracity of my post is challenged, please feel free to contact DFO directly at: DFO - CEA Registry Office - Pacific Region 200 - 401 Burrard Street Vancouver BC V6C 3S4 Telephone: [phone] Email: [e-mail] and refer to CEAR reference number 06-01-23875