Molycor Annual General Meeting and Special Meeting Results

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 04/13/12 -- Molycor Gold Corp. (TSX VENTURE: MOR)(PINKSHEETS: MLYFF)(FRANKFURT: M1V) ("Molycor" or the "Company") reports the results of its 2011 Annual General Meeting and Special Meeting. At the meeting all ordinary resolutions placed before the Meeting were passed. Shareholders re-elected Larry W. Reaugh, Edward Lee, William Pfaffenberger, David Madill, Daniel Koyich and Robert Brown as directors of the Company for the ensuing year. DeVisser Gray, Chartered Accountants were reappointed as auditors of the Company and the proposed amendments to the Company's existing Stock Option Plan were approved.

A resolution was passed at the Meeting confirming the Shareholders' Rights Plan with respect to the Shareholder's Rights Plan Agreement made between the Company and Computershare Investor Services Inc., as rights agent, dated February 28, 2012, and filed with the TSX Venture Exchange.

In addition a special resolution was passed at the Meeting resolving that the name of the Company be changed to "Nevada Clean Magnesium Inc.", subject to the acceptance of the Registrar of Companies and the TSX Venture Exchange.

About Molycor Gold Corp.

Molycor is a diversified precious, speciality and base metal exploration and development company focusing on magnesium, molybdenum and gold exploration and development in North America.

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. We seek safe harbor.

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

604-531-9639

604-531-9634 (FAX)
info@molycor.com
www.molycor.com