VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 22, 2007) - Molycor Gold Corp. (TSXVENTURE:MOR)(PINK SHEETS:
MLYFF)(FRANKFURT:M1V) will grant incentive stock options to purchase an aggregate of 835,000 shares in the capital stock of the Company. The options will be granted for a period of five years commencing March 21, 2007 at a price of $0.20 per share.

The Employee Director stock options are subject to the approval of the regulatory authorities.

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
Webiste: www.molycor.com

The TSX-Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.