Mooncor Appoints New Director and Issues Stock Options

CALGARY, ALBERTA--(Marketwire - Nov. 30, 2011) - Mooncor Oil & Gas Corp. ("Mooncor")(TSX VENTURE:MOO) announced today that Gerry Feldman has joined its board of directors to replace John Loh who has resigned to focus on other responsibilities.

The board would like to thank John for his invaluable contributions to Mooncor over the previous five years since his appointment as a director in 2007.

Gerry Feldman is a Chartered Accountant and currently Vice President, Corporate Development and Chief Financial Officer of Pinetree Capital Ltd. (TSX:PNP). He has 28 years of merger and acquisition activities, corporate finance and financial experience. Prior to joining Pinetree, Mr. Feldman was a senior Partner in a number of accounting firms where he provided services to clients, specializing in audits and corporate finance activities for public companies, and brokerage and mutual fund dealers. In addition to his accounting and finance experience, he holds senior officer and director positions in several mining companies that are listed on both the TSX and the TSX Venture Exchanges. Mr. Feldman is an officer of Pinetree Capital Ltd. which is a significant shareholder of Mooncor.

In addition, the board of directors has approved the grant of 361,250 stock options to several of its non-executive directors, including 150,000 to each of its two new directors (Mr. Feldman and Richard Patricio (who was appointed a director on July 26, 2011)), at an exercise price of $0.14 per common share expiring on November 30, 2021.

Mooncor currently has 121,953,956 issued and outstanding common shares and accordingly can grant up to 12,195,395 stock options pursuant to its stock option plan. Including the grant announced today, Mooncor currently has 11,661,250 stock options outstanding.

Business of Mooncor Oil & Gas Corp.

Mooncor Oil & Gas Corp. is a junior oil and gas exploration and development company focusing on shale gas opportunities. Mooncor's current emphasis is on securing a joint venture partner for its proven Muskwa/Duvernay shale gas project at Hamburg, Alberta. It is also pursuing opportunities to realize near-term value from its southwest Ontario assets, potentially through a spin-off into a new entity.

The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Although Mooncor believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as required by law, Mooncor disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.