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Molycor Gold Corp. Retains Agoracom Investor Relations and Grants Options

Molycor Gold Corp. Retains Agoracom Investor Relations and Grants Options

VANCOUVER, BRITISH COLUMBIA -- (MARKET WIRE) -- 03/30/07 -- Molycor Gold Corp. "Molycor" (TSX VENTURE: MOR)(PINK SHEETS: MLYFF)(FRANKFURT: M1V) announces that the Board of Directors have approved the issuance of 225,000 stock options to AGORACOM Investor Relations ("AGORACOM"). This grant of stock options is pursuant to an agreement between Molycor and AGORACOM in which AGORACOM will provide investor relations services to Molycor for a period of twelve months in return for $2750.00 per month and the grant of stock options. The stock options are set at an exercise price of $0.25 per share. The options have a term that ends two years after the date of grant and vest:

(a) 25% of the initial aggregate number of common shares on the three month anniversary of the date of grant;

(b) 25% of the initial aggregate number of common shares on the six month anniversary of the date of grant;

(c) 25% of the initial aggregate number of common shares on the nine month anniversary of the date of grant; and

(d) 25% of the initial aggregate number of common shares on the twelve month anniversary of the date of grant.

Although the share options vest in quarterly amounts over the next twelve months, AGORACOM has elected not to exercise any such options until after the first twelve months of its provision of services. A further news release will be issued jointly by Molycor and AGORACOM outlining the terms of the agreement between the parties as well as the hard launch of the program.

This grant of share options and the agreement are all subject to receipt of all necessary TSX Venture Exchange regulatory approvals.

The objective of this agreement is two-fold. First, to create effective communication between Molycor, its shareholders and the investment community through AGORACOM's internet based investor relations system. A customized and monitored Molycor IR HUB will allow both Molycor and AGORACOM to communicate with all investors simultaneously, anytime and in real-time, while providing shareholders with equal access and complete transparency to all investor relations communications. The IR HUB will also provide one-click access to all critical Molycor IR information, as well as, an executive audio address. In addition, the IR HUB provides investors with a monitored discussion forum for the purposes of constructive and high-quality discussion about the Company that is free of spam, bashing, hyping and profanity.

Second, AGORACOM will be responsible for raising Molycor's awareness amongst retail investors for the purposes of attracting new and prospective shareholders. As an exclusive small-cap content provider to Yahoo Finance Canada, AOL Finance Canada and every Blackberry device on the planet, AGORACOM will provide Tier-1 financial coverage of all meaningful Molycor press releases as well as profiling Molycor in audio interviews and stories on these networks.

The IR HUB will be launched within the next 10 - 14 business days.

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.



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

Contacts:
Molycor Gold Corp.
Edward Lee
President and Director
(604) 531-9639
(604) 531-9634 (FAX)
Email: [email protected]
Website: www.molycor.com

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