Molycor Gold Corp. and Goldrea Resources Corp.: Drilling Commences on the Dobbin I, Copper/Platinum/Palladium Property

Molycor Gold Corp. are pleased to announce drilling has begun on the Dobbin I – Copper/Platinum/Paladium Property located 30 kms (19 miles) west of Kelowna, British Columbia.

The diamond drill program consists of five holes ranging from 305 meters (1000 feet) to 427 meters (1400 feet) in depth, three vertical holes will be drilled 1.5kms north and east of the “Central Zone”, within the hornblende-biotite clinopyroxenite and gabbro/diorite formation to intersect the basement layer of the platinum mineral group.

Two holes will be step outs west from diamond drill hole #97-21 which included a 111 meter (364.1 feet) averaging 0.19% Cu, 0.140 g/t Pt, 0.352 g/t Pd, including a 15 meter (49.2 feet) section grading 0.54% Cu, 1.31 g/t Pt and 0.949 g/t Pd.

The ultra mafic complex at the Dobbin I measures approximately 1 x 1.5kms in size.

All assays will be released as soon as they are received.

The program is under the supervision of Andris Kikauka, P. Geo., a qualified person under NI 43-101.

On Behalf of Management

Larry W. Reaugh, President and C.E.O.

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.

Contact:

Contacts: Molycor Gold Corp. and Goldrea Resources Corp. Larry W. Reaugh President and C.E.O. (604) 531-9639 (604) 531-9634 (FAX) Email: info@goldrea.com / info@molycor.com

Website: http://www.goldrea.com / http://www.molycor.com

Source: Molycor Gold Corp. and Goldrea Resources Corp.