Goldrea Resources Corp.
TSX VENTURE : GOR
PINK SHEETS : GORAF
FRANKFURT : GOJ

Goldrea Resources Corp.
Molycor Gold Corp.
TSX VENTURE : MOR
PINK SHEETS : MLYFF
FRANKFURT : M1V

Molycor Gold Corp.

October 14, 2008 14:42 ET

Goldrea Resources Corp. and Molycor Gold Corp.: Assay Results Up to 0.180% Mo Over 15 Meters for the Near Surface Drilling Target on Empress Molybdenum Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 14, 2008) -

Goldrea Resources Corp. (TSX VENTURE:GOR)(PINK SHEETS:GORAF) (FRANKFURT:GOJ) and Molycor Gold Corp. (TSX VENTURE:MOR)(PINK SHEETS:MLYFF)(FRANKFURT:M1V) are pleased to announce the discovery of a significant molybdenum deposit on its Empress molybdenum property, located 15 km south of the past producing copper/molybdenum Brenda mine. The program consisted of 10 BQTW drill holes drilled in the central portion of a 730 X 360 meter area for molybdenum (and copper/gold) bearing mineralization. Together the 2007 and spring 2008 programs include 19 holes drilled totaling 3,493 meters (11,459 feet). Mineralization observed in core from all 19 holes consists of disseminated and fracture filling molybdenite-pyrite-chalcopyrite. Assays just in, returned good values in molybdenum with wide intersections of grades.

The Empress deposit consists of widespread, molybdenum bearing sulphide mineralization hosted in Middle Jurassic quartz monzonite porphyry associated with the Osprey Lake Batholith. The molybdenite and pyrite are occurring as disseminations, veinlets and in quartz stringers on a North West trending zone.

The Company is also pleased to report the engagement of Ed Kimura, B.Sc., P.Geo. and Robert Pinsent, B.Sc., M.Sc., Ph.D., P.Geo., to aid in the development of the Empress molybdenum property on a consulting basis. Both gentlemen have expertise in molybdenum exploration, notably Endako and Adanac.

Recent work involving the generation of cross sections of the Empress drilling has revealed a relatively shallow dip to the north east (-51 degrees) and a strike of N45 degrees W. The recent drilling was done with a fan configuration which has allowed a reinterpretation of the structure and has revealed that most of the early drilling by Anaconda was poorly oriented running within 5 degrees of the structure at S45 degrees E at -46 degrees. Future drilling will be oriented at S45 degrees W at -60 degrees providing a near 90 degrees intercept and an approximate true width.



--------------------------------------------------------------
From Depth To Depth Width Grade Mo
Hole ID (meters) (meters) (meters) (by mass)
--------------------------------------------------------------
Emp 1 3 21 18 0.077
--------------------------------------------------------------
Emp 1 33 54 21 0.070
--------------------------------------------------------------
Emp 1 147 153 6 0.077
--------------------------------------------------------------
Emp 2 3 27 24 0.080
--------------------------------------------------------------
Emp 3 3 24 21 0.064
--------------------------------------------------------------
Emp 4 15 45 30 0.093
--------------------------------------------------------------
Emp 4 45 75 30 0.038
--------------------------------------------------------------
Emp 5 6 36 30 0.076
--------------------------------------------------------------
Emp 5 36 69 33 0.034
--------------------------------------------------------------
Emp 6 6 30 24 0.073
--------------------------------------------------------------
Emp 6 51 72 21 0.053
--------------------------------------------------------------
Emp 7 27 72 45 0.075
--------------------------------------------------------------
inc: 42 48 6 0.138
--------------------------------------------------------------
inc: 46 48 2 0.112
--------------------------------------------------------------
Emp 8 21 36 15 0.030
--------------------------------------------------------------
Emp 9 60 63 3 0.055
--------------------------------------------------------------
Emp 10 12 81 69 0.089
--------------------------------------------------------------
Emp 10 102 105 3 0.120
--------------------------------------------------------------
Emp 10 111 114 3 0.092
--------------------------------------------------------------
Emp 10 135 144 9 0.059
--------------------------------------------------------------
Emp 10 150 161 11 0.059
--------------------------------------------------------------
Emp 11 4 27 23 0.104
--------------------------------------------------------------
Emp 11 54 75 21 0.060
--------------------------------------------------------------
Emp 12 6 24 18 0.110
--------------------------------------------------------------
Emp 12 48 72 24 0.060
--------------------------------------------------------------
Emp 13 75 96 21 0.140
--------------------------------------------------------------
Emp 13 105 111 6 0.050
--------------------------------------------------------------
Emp 13 168 182 14 0.060
--------------------------------------------------------------
Emp 14 42 48 6 0.138
--------------------------------------------------------------
Emp 14 69 93 24 0.080
--------------------------------------------------------------
Emp 14 114 117 3 0.060
--------------------------------------------------------------
Emp 15 72 84 12 0.076
--------------------------------------------------------------
Emp 15 117 135 18 0.097
--------------------------------------------------------------
Emp 16 60 66 6 0.075
--------------------------------------------------------------
Emp 16 108 135 27 0.083
--------------------------------------------------------------
Emp 17 96 111 15 0.062
--------------------------------------------------------------
Emp 17 141 159 18 0.098
--------------------------------------------------------------
Emp 17 166 183 17 0.130
--------------------------------------------------------------
Emp 18 105 117 12 0.060
--------------------------------------------------------------
Emp 18 120 150 30 0.061
--------------------------------------------------------------
Emp 19 93 99 6 0.120
--------------------------------------------------------------
Emp 19 102 111 9 0.082
--------------------------------------------------------------
Emp 19 114 129 15 0.180
--------------------------------------------------------------


Results for holes 1 through 9 were previously reported.

Assays were performed by Pioneer Laboratories located in Richmond, BC.

The extraordinary widths and good grade measured in the drilling are considered by the Company to be very encouraging. The mineralization is open to the North West and to the South East as well as down dip. Although the deeper material may not be amenable to open pit mining the lateral extensions are overburden covered and provide a tantalizing target.

This news release was reviewed by Norm Tribe P.Eng., a qualified person recognized under NI 43-101.

On Behalf of Management

Larry W. Reaugh, President and Chief Executive Officer

Visit our website to watch Larry Reaugh, CEO of Molycor Gold Corp.'s February 25, 2008 interview with Agoracom discussing high grade manganese discovery.

Also view his interviews with SmartStox Online TV Talk Show. www.smartstox.com/interview/mor.php and www.smartstox.com/interview/gor.php

For all Molycor Gold Corp. investor relations needs, investors are asked to visit the Molycor Gold Corp. IR Hub at http://www.agoracom.com/ir/molycor where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to mor@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time.

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.

The TSX-Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information