Molycor Gold Corp.

Molycor Gold Corp.

April 20, 2011 06:00 ET

Molycor Adds Two More Experts and Kemetco Research for Tami-Mosi

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 20, 2011) - Edward Lee, President of Molycor Gold Corp. (TSX VENTURE:MOR)(PINK SHEETS:MLYFF)(FRANKFURT:M1V) ("Molycor" or the "Company") is pleased to report the Company has signed consulting contracts with Neale R. Neelameggham, Ph.D., an internationally recognized magnesium process and design engineer specializing in advanced research and Ralph (Bud) Carter, P. Eng. (retired), who specializes in the operation, process and design for producing ferrosilicon. The Company has also engaged Kemetco Research Inc. (formerly B.C. Research) located in Richmond, British Columbia, to assist in metallurgical and technical process reviews and recommendations.

Neale Neelameggham is a partner/owner with Ind LLC consulting on metal production and energy technology. With over 40 years expertise he is considered an expert in all aspects of magnesium production and metal technology including solar pond concentration of Great Salt Lake Brine, brine purification, spray drying, molten salt chlorination, molten salt electrolysis and ingot casting that includes an expert understanding of the various methods of magnesium production currently practiced globally that include competitors such as China, Russia, Israel, Australia, Canada and the European countries.

Newly retired this year, his last employer for 38 years was U.S. Magnesium LLC of Salt Lake City, Utah where Dr. Neelameggham was one of the original engineers when the plant was started up in 1972. His responsibilities were in the process development and energy efficiencies, both thermal and electrical for magnesium metal, chlorine production and the various by–products produced. He has carried out studies of possible alternate fuels such as bio-diesel and comparing alternate diesel engines versus gas driven pumps, improving the efficiency of gas turbine operations, energy efficiency improvements of electrolytic cells by proper heat balance control, effective insulations which required continuous upgrading and initiating efficiency improvements to control production costs and while reviewing technical evaluations of competing processes used by worldwide competitors.

Dr. Neelameggham is internationally recognized as a premier researcher and inventor/co inventor in the magnesium field with 13 registered patents with over 14 papers and publications and several professional affiliations. He is a permanent advisor of the Magnesium Committee of the Light Metals Division of The Metallurgical Society. He also initiated special symposium on carbon dioxide reduction metallurgy in 2008 which continues part of the Energy Technology symposiums of The Metallurgical Society.

Ralph Carter is a recently retired engineer residing in Arizona with over 40 years of experience in the development and operations of ferrosilicon plants and other operations in the US. From 1989 – 2000 he was project manager and engineer for Alcoa and Northwest Alloys Inc., Addy Magnesium – Ferrosilicon plant responsible for evaluating, operating parameters, environmental controls and economic profitability for various projects. His previous employer for 20 years was Hanna Mining Company in Riddle, Oregon where for his last 2 years he was the nickel operations manager responsible for all activities at mine and smelter facilities that included 4 ore melting furnaces, 2 line reaction mixer ladles, 2 refining furnaces and a 48% FeSi production furnace. Prior to this he was the operations manager for a silicon and ferrosilicon plant owned also by Hanna Mining Company located in Wenatchee, Washington, responsible for turning the plant to a high quality producer and was responsible for all the facilities and locating and developing a quartzite mine in British Columbia, Canada.

Management believes it has assembled a very competent team to advance the Tami–Mosi Magnesium Project to be potentially one of the most economic and environmentally advantageous magnesium projects in the world.

About Kemetco Research:

Kemetco Research is a privately owned contract research and development company specializing in extractive metallurgy, chemical processing and specialty chemical analysis. Kemetco was formed after the acquisition of the industrial process division of B.C. Research. B.C. Research had been in operation for over 60 years as a research and development contractor in British Columbia, Canada.

About Magnesium:

Magnesium is a widely used industrial metal categorized by its light weight and the supply of which has undergone dramatic change. The production of the metal from source has almost ceased in Canada and the United States with only one company in Utah remaining. The Chinese now produce 7/8 of the world's primary supply. The total world production is estimated at approximately 800,000 metric tonnes (2008 USGS). This distortion of the market has led to dumping charges and the incidence of an import duty in the United States; this dependence on virtually only one foreign source presents opportunity. The price of magnesium is currently US$3,300 a metric tonne or US$1.50 lb (Minor Metals). The metal has enjoyed a favorable price for decades and has reached US$6,000 a metric tonne in times of demand.

Molycor's Goal:

The Company plans to advance the Tami-Mosi Magnesium Project toward prefeasibility and feasibility studies over the next eighteen months on its NI 43-101 inferred resource of 53 billion pounds in Nevada.

About Molycor Gold Corp.:

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

This news release was reviewed by John W. Fisher, P.Eng, a qualified person recognized under NI 43-101.

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

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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