Molycor Gold Corp.

Molycor Gold Corp.

March 20, 2006 17:55 ET

Molycor Gold Corp.: Koyich Joins the Board

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 20, 2006) - Molycor Gold Corp. (TSX VENTURE:MOR)(PINK SHEETS:MLYFF)(FWB:M1Y) is pleased to announce that Dan Koyich has agreed to become a director of the Company.

Mr. Koyich has been involved as a director of public companies since 1997. Most recently he was a director of Adanac Moly Corp., and is now Vice-President, Corporate Development for Adanac Moly Corp. As president of his private corporation, JeanDan Management Ltd., since 1977, he has provided consulting services regarding investor relations, business administration and financing for publicly listed companies. Mr. Koyich will be a valuable addition to the board.

The Company will also grant incentive stock options to purchase an aggregate of 200,000 shares in the capital stock of the Company. The options will be granted for a period of five years commencing March 20, 2006, at $0.30 per share.

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

On Behalf of Management

Edward Lee, President and Director

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

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