Molycor Gold Corp.: New Gold Zone Identified at Windpass and Beaverdell Silver Property Returned VANCOUVER, BRITISH COLUMBIA--(Marketwire - 07/27/09) - Mr. Edward Lee, President of Molycor Gold Corp. (TSX-V:MOR - News)(PINK SHEETS:MLYFF - News)(Frankfurt:M1V - News) (the "Company"), is pleased to report the discovery of a new zone and assay results grading up to 316,500 ppb (10.17 ounces/tonne gold) from a rock chip sampling program carried out over the proposed drill targets prior to the upcoming fall drilling program on its 100% owned Windpass Gold Property, located 8km east of Little Fort, British Columbia. A new mineralized zone was identified utilizing a magnetometer survey and a soil sampling program situated beyond the east end of the Hail Zone and is approximately 60 meters in length with mineralization from the soil samples ranging from 120 - 275 ppb gold with one low sample return of 6 ppb Au. The rock chip sample program was carried out over the proposed drilling sites from outcrop on the Weather Station, North, Pioneer, South, Windpass, Dew and Frost Zones and tested the west extension of the Blizzard Zones and the eastern extensions of the Wind/Southwind Zones. (To view the map, please click on the following link: http://media3.marketwire.com/docs/moly724.pdf) Assay results are as follows: --------------------------------------------------------- Zone Sample # Sample Type Gold ppb --------------------------------------------------------- South WP09-AR-01 Rock chip 12240 --------------------------------------------------------- Windpass WP09-AR-02 Rock chip 5610 --------------------------------------------------------- Pioneer WP09-AR-03 Rock chip 23150 --------------------------------------------------------- South WP09-AR-04 Rock chip 90 --------------------------------------------------------- South WP09-AR-05 Rock chip 85 --------------------------------------------------------- Wind/Southwind WP09-AR-06 Rock chip 3570 --------------------------------------------------------- North WP09-AR-07 Rock chip 316500(i) --------------------------------------------------------- North WP09-AR-08 Rock chip 3060 --------------------------------------------------------- Weather Station WP09-AR-09 Rock chip 26500 --------------------------------------------------------- Weather Station WP09-AR-10 Rock chip 11250 --------------------------------------------------------- Dew WP09-AR-11 Rock chip 540 --------------------------------------------------------- Dew WP09-AR-12 Rock chip 1160 --------------------------------------------------------- Blizzard WP09-AR-13 Rock chip 75 --------------------------------------------------------- Frost WP09-AR-14 Rock chip 2720 --------------------------------------------------------- Windpass WP09-AR-15 Rock chip 90 --------------------------------------------------------- (i) Sample #WP09-AR-07 equates to 10.17 ounces/tonne (i) High assay #WP09-AR-07 is due to native gold (i) Assays were carried out by Pioneer Labs of Richmond, B.C. The property has eighteen gold zones (two of which produced 34,456 troy ounces of gold from 102,946 tons from 1933-1939). Prior trench sampling on three of the gold zones returned 36.94 grams Au/tonne (1.08 troy ounces/ton) over 0.58 meters (1.9ft) and 44.97 grams Au/t (1.32 opt Au) over 0.10 meters (0.33 ft) on the North, Sleet and Weather Station Zones. The Company expects to carry out drill the program in August. Beaverdell Silver Camp Update Management also reports, due to a change in direction, Gleneagle Resources Corp. has terminated its participation in the Beaverdell Silver Property joint venture. Molycor would like to thank Gleneagle for their contributions and wishes the best in their future endeavors. During 2008, Gleneagle identified three drill targets (the Kokomo-Tiger vein north, south extension and the Rob Roy vein south extension). Exploration by Gleneagle consisted of a Horizontal Loop Electromagnetic (HLEM) survey and a rock chip sampling program with results grading up to 630 g/tonne (18.38 troy ounces/ton) silver in a 20 cm channel sample. Molycor is evaluating the data to design a field exploration and drilling program. The Beaverdell property had 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 0.049 oz/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 troy ounces silver, 1,456,185 lbs zinc, 960,482 lbs lead and 367 troy ounces of gold. About Molycor Gold Corp. Molycor is a diversified precious, specialty and base metal exploration and development company focusing on magnesium, molybdenum and gold exploration in North America. This release was reviewed by Andris Kikauka, P. Geo., a qualified person recognized under National Instrument 43-101. On Behalf of Management Edward Lee, President For all Molycor Gold Corp. investor relations needs, investors are asked to visit the Molycor Gold Corp. website at www.molycor.com. 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.
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Source: Molycor Gold Corp.
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