FOR IMMEDIATE RELEASE
Molycor completes the first portion of PRIVATE PLACEMENT
August 25, 2009 - Vancouver, British Columbia
Molycor Gold Corp. (TSX.V-MOR; Frankfurt-M1V; Pink Sheets-MLYFF) (�Molycor� or the �Company�) is pleased to announce that further to its news release dated July 29, 2009, the Company has closed the first portion of its non-brokered private placement for gross proceeds of $224,180 comprising of 2,802,250 units (the �Unit�) at a price of $0.08 per Unit.
Each Unit is comprised of one common share in the capital of the Company plus a two year share purchase warrant (the �Warrant�). Each Warrant entitles the holder to purchase one common share at a price of $0.12 per share at any time up to 5:00 pm (Vancouver time) on August 24, 2011. All of the securities issued pursuant to this private placement will have a hold period expiring four months and one day after the closing date.
The proceeds of this Private Placement will be used toward exploration and general working capital.
The Company has paid Finder�s fees totaling $13,640, in connection with the Private Placement.
About Molycor Gold Corp.
Molycor is a diversified precious and base metal exploration and development company focusing on magnesium, molybdenum and gold exploration in North America.
On Behalf of Management
Larry W. Reaugh
Chief Executive Officer
Information Contact
Larry W. Reaugh
Chief Executive Officer
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
Cautionary Notice: The Reader is cautioned that the full Cautionary Notice is not attached to this email. The reader is requested to access the news release on the Company�s website at www.molycor.com or at SEDAR at www.sedar.com to read the full Cautionary Notice. The full Cautionary Notice is not attached as the recipient�s spam filters frequently block receiving emails containing the full Cautionary Notice.