Molycor Receives Research Report

Edward Lee, President of Molycor Gold Corp. (TSX VENTURE:MOR)(PINKSHEETS:MLYFF)(FRANKFURT:M1V) ("Molycor" or the "Company") is pleased to announce the receipt of a research report, issued by Fundamental Research Corp.

The Fundamental Research Report is entitled "Positive PEA on Tami Mosi Magnesium Project" and dated January 19, 2012. The full report is now at researchfrc.com.

About Fundamental Research:

Since 2003, Fundamental Research Corp. has been providing the highest institutional quality equity research coverage on small and micro-cap companies through their extensive distribution network. In 2009, they also started issuing reports on exempt market securities. In 2010, their Top Picks earned them the #3 highest ranked analyst firm with a return of 20.75%, and #1 in the Basic Materials Sector (which includes mining) with a return of 29.07% on third party ranking systems that tracks analysts globally. Their goal from the beginning was to provide high quality research to a broad audience, while adhering to high ethical standards and a strong foundation of integrity.

DISCLAIMER: Please note that any opinions, estimates, or forecasts regarding Molycor Gold Corp's performance made by these analysts are theirs alone and do not represent opinions, forecasts, or predictions of Molycor Gold Corp or its management. Molycor Gold Corp. does not, by its reference or distribution; imply its endorsement of, or concurrence with, such information, conclusions, or recommendations.

Molycor Gold Corp. does not provide analyst reports to persons outside of the Company. Please contact the research analyst directly to obtain a report.

About Tami-Mosi Magnesium Project:

The Tami-Mosi magnesium project poses the ability to exploit its inferred magnesium resource for 30 years producing 30,000 tonnes per year within the United States, where protective tariffs are in place on imported magnesium metal. The economics are based on a NI 43-101 resource estimate analysis on the project, completed by Wardrop Engineering (a Tetra Tech Company), which shows an inferred resource of 412 million tonnes with an average grade of 12.3% for a contained metal content of 111 billion pounds of magnesium using a 12% cut-off grade.

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: Fundamental Research Corp. Sid Rajeev, MBA, CFA 604-682-7065srajeev@researchfrc.com Molycor Gold Corp. Edward Lee President 604-531-9639 604-531-9634 (FAX)info@molycor.com www.molycor.com

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