FOR IMMEDIATE RELEASE
DRILLING RESUMES ON NEW MANGANESE/MAGNESIUM DISCOVERIES
June 3,
2008 - Vancouver, British Columbia
Molycor Gold Corp. (MOR-TSX.V; Frankfurt-M1V; Pink Sheets-MLYFF) is pleased to announce drilling has resumed on the new manganese and
magnesium discoveries at the Tami-Mosi project in White Pine
County, Nevada, 6.5 miles south of
the town of Ely.
A total of eleven reverse circulation holes totaling
1,680 meters (5,500 feet) are planned to explore for along-strike and down-dip
extensions of the high-grade manganese intersected in hole TM-07-003 grading 35.2% Mn
from 39.6 � 44.6 meters (130 - 145 feet) (see press release dated February 22,
2008).
Also infill drilling will be carried out on the
magnesium discovery where seven holes encountered magnesium grading up to 11.4%
Mg over 164.63 meters (540 feet) along a strike length of 2,500 meters (8,200
feet)(see press release dated March 14, 2008).
The Tamberlaine
district has past development of gold, silver and manganese from workings dated
to the early 1900�s. TM-07-003 represents a new discovery in the district,
covered by more than 100 feet of alluvium and located nearly 2000 meters from
the historic manganese zone. The nearest drill holes to TM-07-003 are located
285 meters north and 1030 meters south for a combined, untested strike length
of more than 1300 meters.
Currently manganese is $2.00 US/lb and magnesium is
$3.45 US/lb.
The drilling is being carried out by O�Keefe Drilling
Company of Butte, Montana.
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.
This news release was reviewed by John W. Fisher, P.
Eng., a qualified person recognized under NI 43-101.
On Behalf of Management
Larry W. Reaugh
Chief Executive Officer and Director
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
Information Contact
Larry W. Reaugh
CEO & Director
Head Office: 2A
15782 Marine Drive,
White Rock, B.C. V4B 1E6
Telephone:
604-531-9639 Facsimile:
604-531-9634
Email: info@molycor.com
www.molycor.com
The TSX-Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.