FOR IMMEDIATE RELEASE

DRILL RESULTS ON DAVIS GOLD PROPERTY, NEVADA

November 24, 2008 - Vancouver, British Columbia

Molycor Gold Corp. (TSX.V-MOR; Frankfurt-M1V; Pink Sheets-MLYFF) (the “Company”) is pleased to announce the completion of a drilling program consisting of seven diamond drill (HQ core) holes totaling 898 meters at the historic Davis gold mine located in Nye County, Nevada, 13 kilometers southeast of Gabbs, Nevada.

Results from this summer’s drilling confirms the presence of gold mineralization, as previously reported by US Mining and Smelting Company (USSRAM), from drilling they did in the 1980’s. The gold mineralization is associated with multi-stage silicification and quartz veining which occurs in a silicified shear zone at the base of a prominent rhyolite dike. Six of the seven holes drilled by Molycor this year contain gold values up to 4.24 meters averaging 3.53 grams (0.102 oz) per ton along a strike length of more than 200 meters. Mineralization is open to the north and south and at depth. Drilling also confirms the presence of gold mineralization up-dip of the zones drilled by USSRAM. See the chart below for a complete list of significant drill hole gold intercepts from this year’s drilling.

*Davis Drill Results*

Hole #	Intercept (meters)		Grade
	from	to	width (meters)		Au (grams/ton)	Au (oz/ton)
DM-08-001	74.16	74.58	0.43	@	1.74	0.050
	78.12	80.10	1.98	@	1.64	0.047
	87.42	91.65	4.24	@	3.53	0.102
	94.98	100.98	6.00	@	1.35	0.039
DM-08-002	47.79	48.65	0.85	@	0.88	0.025
	62.00	63.03	1.04	@	0.95	0.028
	64.22	66.26	2.01	@	3.59	0.104
	67.48	69.13	1.65	@	1.27	0.037
	72.18	73.70	1.52	@	3.45	0.100
	82.81	84.37	1.55	@	1.66	0.048
DM-08-003	11.80	13.50	1.71	@	1.12	0.032
	26.00	29.96	3.96	@	3.63	0.105
	57.70	59.13	1.43	@	1.24	0.036
DM-08-004	99.61	101.16	1.55	@	0.97	0.028
	114.39	115.15	0.76	@	3.78	0.110
DM-08-005	No significant results
DM-08-006	83.67	84.37	0.70	@	3.76	0.109
	95.25	96.56	1.31	@	5.61	0.163
DM-08-007	14.20	14.54	0.34	@	1.44	0.042
	24.93	28.56	3.63	@	2.59	0.075
	50.02	54.32	1.30	@	1.02	0.029

Butler Zone Rock Chip and Soil Sampling Program

Two new gold anomalies have been discovered in the Butler zone located approximately 1000 meters east of the Davis Mine. A systematic soil-sampling program along the 2200 meter-long strike length of the mineralized Butler zone was completed in late June. Six hundred and thirty (630) soil samples were collected on 30m x 50m centers along the NW-SE trend of the zone. All soil samples were bracket-screened to eliminate contamination and analyzed for low-detection gold (fire assay/AA finish) as well as a suite of 36 elements, including silver, by ICP spectrometry. Results indicate two strong gold-in-soil anomalies along the southwestern and southern edges of the sampling grid with coincident anomalous silver. An additional two hundred and fifty (250) soil samples, collected in mid-August to determine the full extent of the anomalies, enhanced and enlarged on these two mineralized zones. The Butler zone is geologically similar to the Davis mine but is much larger, over five times as large along strike, and contains gold in outcrop samples up to 3 grams/ton. Gold up to 12 grams/ton has been reported from mine-dump grab samples along the trend. See attached Butler Zone Geochemical Compilation Map.

An ongoing program of detailed geological outcrop mapping and rock chip sampling continue to add to the overall knowledge of the gold and silver distribution within the property and to generate additional targets.

Molycor Gold Corp. controls 171 unpatented mining claims (approximately 3400 acres) at their Davis Project. Gold, silver and mercury with minor lead and copper were produced within the claims intermittently until about 1943 from numerous small prospects and mines, including the Davis and Butler mines. Renewed interest in the area began in the 1970’s leading to the discovery and development of the Paradise Peak gold mine (1.46 M oz Au and 38.9 M oz Ag, 5 miles west of the Davis mine) by FMC Gold Company in 1983.

*Drill Assays were conducted by American Assay Laboratories Ltd. located in Reno, Nevada*

*Soils assays were conducted by ALS Chemex Ltd. located in Vancouver, British Columbia*

This release was reviewed by Norm Tribe, P.Eng., a qualified person recognized under NI 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 where investors can post questions and also request to be added to the investor e-mail list to receive all future press releases and updates in real time.

Information Contact

Edward Lee

President

Head Office: 2A 15782 Marine Drive, White Rock, B.C. V4B 1E6

Telephone: 604-531-9639 Facsimile: 604-531-9634
Email: info@molycor.com

www.molycor.com

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To view the map that is attached to this email, please click on link to our website www.molycor.com.