VANCOUVER, BRITISH COLUMBIA--(Feb. 4, 2008) - Molycor Gold Corp. (the "Company") (TSX VENTURE:MOR)(PINK SHEETS:MLYFF)(FRANKFURT:M1V) is pleased to announce that it has entered into an option agreement with Temoris Resources Inc. ("Temoris") of Quebec whereby Temoris will acquire a 70% interest in the Beaverdell silver property located along side Highway 33 south east of Kelowna, British Columbia. To acquire its interest, Temoris will have the following commitments to Molycor:

Year 1:

Pay: $10,000 in cash upon signing

Issue: 100,000 shares

Carry out: $150,000 work program

Year 2:

Pay: $20,000 in cash

Issue: 200,000 in shares

Carry out: $200,000 work program

Year 3: Pay: $30,000 in cash

Issue: 300,000 in shares

Carry out: $250,000 work program

A finder's fee is payable by Molycor to Eli Stratulat consisting of 10% of the cash component and 5% payable on work commitment payable in cash and/or stock.

Molycor Management looks forward to the ensuing relationship between the two companies and the future exploration development that Temoris has planned for the property. The Beaverdell property has intermittent past production (from 1906-1961) of rich ore consisting of 8,942 tons averaging 183 oz/ton silver, 8.67% zinc, 6.06% lead and .049 oz per ton gold (MINFILE Production Report). The largest producer the "Wellington" Lot #2621 was active most years from 1920-1954. Production from the Wellington was 8003 tons producing 1,507,393 ounces silver, 1,456,185 lbs zinc, 960,482 lbs lead, and 367 ounces of gold.

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, 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.

Visit our website to watch Larry Reaugh, CEO of Molycor Gold Corp. interview with Stanley Hunt of SmartStox Talk Show.

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 & Director

(604) 531-9639

(604) 531-9634 (FAX)

Email: info@molycor.com

Website: www.molycor.com

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