Molycor Gold Corp.

Molycor Gold Corp.

March 14, 2008 09:40 ET

Molycor Gold Corp.: Magnesium Results Indicating Large Resource in Nevada

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 14, 2008) - Molycor Gold Corp. (the "Company") (TSX VENTURE:MOR)(PINK SHEETS:MLYFF)(FRANKFURT:M1V) is pleased to announce the discovery of magnesium grading up to 11.4% over 540 feet (164.63 meters) from the Phase I drilling program carried out on the Tami-Mosi Gold Property located 6.5 miles south of Ely, Nevada.

Assays were performed by ALS Chemex Laboratories, located in Vancouver, BC.

Geochemical analysis are as follows:


TM-07-003 280-500 67.07 220 10.2
TM-07-004 320-520 61.00 200 9.5
TM-07-005 500-590 27.44 90 10.5
TM-07-006 380-600 67.07 220 12.1
TM-07-007 10-270 79.27 260 9.2
390-655 80.80 265 10.7
TM-07-010 185-500 96.04 315 9.3
TM-07-013 10-540 164.63 540 11.4

The drill program consisted of a total of 14 reverse circulation holes totaling 8,420 feet (2,567 meters). The strike length potential of the magnesium measures over 8,200 feet (2,500 meters) from holes TM-07-003 to TM-07-013.

Like many of the world's commodities, magnesium has steadily risen. China produced 659,300 mt of pure magnesium in 2007, up 25.44% compared with 525,600 mt in 2006. The latest completed spot price for Mg metal is US$4,425/tonne (US$2.00/lb) by (March 11, 2008).

The Company will be testing the metallurgy and investigating the potential for industrial applications for magnesium.

The Company is still awaiting high analytical returns (greater than 10,000 ppm) from the ICP over limits of barite from hole # TM-07-003 and will be reported on when received.

A drilling program is currently being designed and permits applied for to explore the earlier reported manganese results and magnesium potential (see news release dated February 22, 2008).

This news release was reviewed by Dick Addison, P.Eng, a qualified person recognized under NI 43-101.

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 and Director

For all Molycor Gold Corp. investor relations needs, investors are asked to visit the Molycor Gold Corp. IR Hub at 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 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 Stanlie Hunt of SmartStox Talk Show.

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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