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

Molycor Gold Corp.

November 28, 2011 06:00 ET

Molycor Creates Technical Advisory Committee

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 28, 2011) - Edward Lee, President of Molycor Gold Corp. (TSX VENTURE:MOR)(PINK SHEETS:MLYFF)(FRANKFURT:M1V) ("Molycor" or the "Company"), is pleased to report a major development within the Company's corporate structure. As part of Molycor's corporate vision, the Company has assembled a Technical Advisory Board consisting of some of the top and most respected individuals in the Magnesium, Ferrosilicon, Mining and Production communities to advise and assist the Company. Each member has been selected for their individual expertise and for their variety of industry experiences and strengths. The Company will utilize the expertise of the Advisory Committee and consult them in matters of Magnesium, Ferrosilicon, Mining, Production and business development.

The initial Advisory Committee will consist of:

Dr. Neale Neelameggham is partner/owner of Ind LLC consulting on metal production and energy technology. He was one of the original engineers when the US Magnesium plant started up in 1972. Being newly retired with over forty years of experience in the magnesium industry, Dr. Neelameggham is recognized as a premier researcher and inventor/co-inventor in the magnesium field and holds 13 registered patents with over 14 papers and publications to his credit. He has several professional affiliations and is a permanent member of the Magnesium Committee of the Light Metals Division of the Metallurgical Society.

Ralph Carter, BSc. Engineering, resides in Arizona with over 40 years of experience in the development and operations of Ferrosilicon plants. He was project manager and engineer for Alcoa at the Addy magnesium plant from 1989 - 2000 and responsible for evaluating, operating parameters, environmental controls and economic profitability. His previous employer for 20 years was Hanna Mining Company in Riddle, Oregon where he was the operations manager of the Ferrosilicon plant responsible for all activities at the mine and smelter where high quality product was produced.

Gavin Treanor is an Aerospace Engineer and was a principal in a Chinese merchant banking firm for over ten years focused on global sourcing of current and strategic metals for Chinese clients. He has been the lead on international financial structures and assisted companies in securing capital, developing assets and various merger and acquisition structures.

The Technical Advisory Committee members will be offered a stock option package and will be compensated for the time utilized by the Company. Option packages are subject to regulatory approval and will be issued in accordance to the Company's stock option plan.

About Tami-Mosi Magnesium Project

The Tami-Mosi magnesium project poses the ability to exploit its 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 on the project, completed by Wardrop Engineering (a Tetra Tech Company), which shows 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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