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

Molycor Gold Corp.

November 18, 2011 06:00 ET

Molycor Adds Experts to Board and Management

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 18, 2011) - Edward Lee, President of Molycor Gold Corp. (TSX VENTURE:MOR)(PINK SHEETS:MLYFF)(FRANKFURT:M1V) ("Molycor" or the "Company") is pleased to announce the addition of Robert Brown to the Board of Directors and the appointment of James Sever to the position of Chief Operating Officer of the Company.

Robert Brown has been added to the Board of Directors for the Company and brings with him over fifty years of industry experience in both ferrous and non-ferrous materials that includes twenty years in the technical management areas of light metal foundries and reduction plants. Mr. Brown has consulted to major international magnesium companies to assist in evaluation, planning, design, marketing and trouble shooting new operations. He has held various positions throughout the many stages and departments of magnesium production and operations.

Mr. Brown is the publisher of "Magnesium Monthly Review" since 1971 and a contributing editor and columnist for "Light Metal Age" and "Australian Journal of Mining" with over twenty five publications. He has served as Executive Secretary for the International Magnesium Association (IMA) and participated in world panels.

James Sever has been appointed to the Management Team as the Chief Operating Officer. He is president of Alpha Omega Engineering Inc. of Spokane, Washington, with over thirty years' experience in non-ferrous metals, chemical, industrial and operational management. For nine years he was employed by Alcoa at their Northwest Alloys Inc. Magnesium plant located at Addy, Washington. As Technical Operations Manager he was part of the senior management team.

Mr. Sever's accomplishments include:

  • Implementation of new technology on a plant wide basis;
  • Participation in the start-up of a major alumina refinery as part of the technical management team;
  • Attained record safety performance in every department managed;
  • By focusing on simplifying process operation he was able to significantly reduce maintenance costs;
  • Designed a proprietary seal for the electrical connection on a commercial vacuum furnace;
  • Operating a world wide consultancy focused on safe effective reduction operation and development in the light metals industry.

During his tenure at Alcoa's Northwest Alloys Mr. Sever:

  • Stabilized process operations by revising the process control scheme and gaining consistency in key raw materials;
  • Implemented a technical oversight team that captured and incorporated the practical knowledge base for the plant workers while maintaining continuity and consistency between shifts;
  • Revised the management metric for each production department's performance which eliminated interdepartmental rivalry;
  • Applied "SIPOC" (a model based on Suppliers, Inputs, Process, Outputs and Customers) a tool used in a 6 sigma process control, Statistical Process Control and Evolutionary Operation analysis system to incrementally improve production operation.

These activities were enabled by increasing the power available to the reduction furnaces. Together they culminated in production increasing more than two times without a major capital expansion of the plant.

Both these gentlemen bring with them decades of experience to Molycor, beneficial to the development of the Tami – Mosi Magnesium Project.

About Tami – Mosi Magnesium Project

The Tami – Mosi magnesium project poses the ability to exploit the inferred magnesium resource for 30 years producing 30,000 tonnes per year within the United States, where protective tariffs are in place on imported magnesium metal. The economics are based on a NI 43-101 resource estimate analysis completed by Wardrop Engineering (a Tetra Tech Company) showing an inferred resource of 412 million tonnes with an average grade of 12.3% for a contained metal content of 111 billion pounds of magnesium using a 12% cut-off grade.

About Molycor Gold Corp.:

Molycor is a diversified precious, speciality and base metal exploration and development company focusing on magnesium, molybdenum and gold exploration and development in North America.

On Behalf of Management

Edward Lee, President

For all Molycor Gold Corp. investor relations needs, investors are asked to visit the Molycor Gold Corp. website at www.molycor.com.

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.

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