Agoracom

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 19, 2007) - Molycor Gold Corp. (TSX VENTURE :MOR) (PINK SHEETS:MLYFF)(FRANKFURT:M1V) wishes to announce that it has increased the size of the non brokered private placement (the "Private Placement") from 7,500,000 units to 8,572,000 units (the "Units") at a price of $0.20 per Unit raising gross proceeds of $1,714,400. Proceeds from the Private Placement will be used for exploration projects and general working capital.

Each Unit is comprised of one common share of Molycor Gold Corp. plus one-half of one common share purchase warrant. Each whole common share purchase warrant will be exercisable for a period of one year at a price of $0.25 per share.

In connection with the Private Placement, the Company has agreed to pay fees and commissions in accordance with the policies of the TSX Venture Exchange (the "Exchange").

The Private Placement is subject to Exchange approval.

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.

FOR FURTHER INFORMATION PLEASE CONTACT:

Molycor Gold Corp.
Edward Lee
President and Director
(604) 531-9639
(604) 531-9634 (FAX)
Email: info@molycor.com
Website: www.molycor.com