Adanac Molybdenum Corporation AUAYF

Again

[HansonEtridge]

Adanac Gold Corp. Quick Quote: AUA 0.39 (-0.01) Private Placement Increases 6/11/04 Adanac Gold Corp. ("the Company"), announces that the non-brokered Private Placement previously announced on May 13, 2004 and June 3, 2004 has been oversubscribed and increased to $1,740,000 through the issuance of 5,800,000 units at a price of $0.30 per unit. Each unit consists of one common share and one share purchase warrant entitling the holder to purchase one additional common share of the Company for two years at a price of $0.40 per share in the first year and $0.50 per share in the second year. A finder's fee will be payable on a portion of the private placement in accordance with the policies of the TSX Venture Exchange. The Private Placement and Finder's Fee is subject to the approval of the TSX Venture Exchange. On Behalf of Management ADANAC GOLD CORP. Larry W. Reaugh, President and Chief Executive Officer 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 TSX-Venture Exchange, the British Columbia Securities Commission and the US Securities and Exchange Commission. CONTACT: TEL: [phone] Adanac Gold Corp. FAX: [phone] WEBSITE: www.adanacgold.com Email: [e-mail]