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

Molycor Gold Corp.

May 09, 2008 16:48 ET

Molycor Gold Corp.: Incentive Stock Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 9, 2008) - Molycor Gold Corp. (TSX VENTURE:MOR)(PINK SHEETS:MLYFF)(FRANKFURT:M1V) will grant incentive stock options to purchase an aggregate of 3,175,000 shares in the capital stock of the Company. The options will be granted for a period of five years commencing May 9, 2008 at a price of $0.14 per share.

The Employee / Director stock options are subject to the approval of the regulatory authorities.

About Molycor Gold Corp.

Molycor is a diversified precious and base metal exploration and development company focusing on molybdenum exploration in British Columbia and gold exploration in Nevada.

On Behalf of Management

Edward Lee, President

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.

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 interview with SmartStox Online TV Talk Show. www.smartstox.com/interview/mor.php

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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