Molycor Gold Corp.

Molycor Gold Corp.

April 03, 2007 06:00 ET

Molycor Gold Corp.: Molybdenum Diamond Drilling Program for Crowrea & Empress Claims

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 3, 2007) - Molycor Gold Corp. "Molycor" (TSX VENTURE:MOR)(PINK SHEETS:MLYFF)(FRANKFURT:M1V) is pleased to announce diamond drilling programs amounting up to $1,000,000 dollars CDN have been compiled and designed to test the Crowrea property and the Empress molybdenum acquisition. Both properties are 50/50 joint venture with Goldrea Resources Corp. (TSX VENTURE:GOR) and are located 15 kilometers south of the past copper/moly producer Brenda Mines, near Summerland, British Columbia.

Phase I drilling on the Crowrea is designed to infill along the potential strike of the dyke 450 meters southeast towards the "Noranda showing" and 650 meters to the "Swamp anomaly". The dyke was identified by drilling in 2005 containing grades up to 0.292% Mo over 10.6 meters with a potential strike length over 1100 meters, as announced March 22, 2007.

The drilling program will also include holes to be drilled on strike into the "Swamp anomaly". The "Swamp anomaly" is approximately 600 meters in diameter, which was identified by a geochemical sampling survey carried out in 1995.

The Empress property is approximately 8 kms within the Crowrea claim unit, on trend from the "Swamp anomaly". The Empress occurrence is a prospect that covers a 730 X 360 meters area and consists of widespread, low-grade molybdenum and copper bearing sulphide mineralization with higher grade anomalies and is classified as an Mo (Cu-Au) porphyry characterized by disseminated, fracture filling and quartz vein sulphide mineralization.

Phase I of the program will consist of trenching and mapping the attitudes of the veins and fractures followed by a diamond drill program.

Anaconda Canada Explorations Ltd. carried out work between 1968 and 1970 consisting of geological mapping, soil and silt sampling, IP, ground magnetometer and refraction seismic surveys, trenching and diamond drilling. In 1981 the exploration program consisted of 3428 meters of percussion drilling in 42 holes with grades up to 0.05% Mo over 48.0 meters in PDH# 9.

It is thought that the potential "running off" of molybdenum may have occurred during the use of percussion drilling and the Company believes that grades should increase with the use of a diamond drill.

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

On Behalf of Management

Edward Lee, President and Director

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.

Contact Information