FOR IMMEDIATE RELEASE

HIGH GRADE MANGANESE DISCOVERY IN NEVADA

February 22, 2008 - Vancouver, British Columbia

Molycor Gold Corp. (the �Company�) (MOR-TSX.V; Frankfurt-M1V; Pink Sheets-MLYFF) is pleased to announce the discovery of high grade manganese grading 35.2% Mn over 15 feet (4.60 meters)in hole # TM-07-003 during the Phase I drilling program carried out on the Tami-Mosi Gold property located 6.5 miles south of Ely, Nevada.

Drilling is complete and all assays have been received for the program which consisted of 14 reverse circulation holes totaling 8,420 feet (2,567 meters) being drilled into the four identified gold bearing areas located out on the pediment under the alluvial cover as identified by biogeochemical and geophysical surveys.

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

Significant manganese assays are as follows:

Samples from 105 � 125 feet in hole # TM -07 -003 are being tested in 5 foot intervals for manganese and barium over limits are being re-assayed.

Hole # TM-07-003 is located 250 meters southeast from hole # TM- 07 -009 and has an untested zone with a strike length of over 1,200 meters, the next closest hole being hole # TM -07-011.

The old workings of a small scale past producing high grade manganese mine is located approximately 600 meters southeast from hole # TM 07-011 and the mine operated in the early 1900�s and the manganese was used for steel production during the war effort. Production figures for this operation are not known or available from the US Geological Survey.

Manganese is one of the primary ingredients for the production of steel and there is currently little to no commercial production in the US.

The exploration program was originally initiated to test for gold in the four areas to target the silicified zones contained within the Joanna Limestone and Chainman Shale, rock types similar to rocks that host other disseminated gold/silver deposits of northeast Nevada.

The drilling program intersected gold values within the silicified zones of Joanna Limestone and Chainman Shale contacts and assays are as follows:

In light of the new discovery, the Company is examining the data from the 2006- 2007 field work as well as the completed drill program to design an extensive drill program to delineate the manganese zone and further test the gold/copper potential.

This news release was reviewed by Dick Addison, P. Eng., a qualified person recognized under the guidelines of 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�

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 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.

Information Contact

Edward Lee

President & 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

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