Molycor Announces Completion of the First Portion of Private Placement

Molycor Gold Corp. (TSX VENTURE:MOR)(PINK SHEETS:MLYFF)(FRANKFURT:M1V) reported that further to its news releases dated March 29, 2010 and April 30, 2010, the Company has closed the first portion of its Non-Brokered Private Placement for gross proceeds of $391,000 comprising of 5,585,714 units (the “Unit”) at a price of $0.07 per Unit.

The press release is quoted as saying:

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.

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