MOLYCOR GOLD CORPORATION

Molycor Gold Corp.: phase I drilling commences on the Beaverdell silver property

Edward Lee, President of Molycor Gold, reported that drilling has commenced on its 100% owned Beaverdell Silver property, located 4km southeast of Beaverdell, British Columbia.

The exploration program will be focused on the North Kokomo – Tiger and Duncan Bounty vein areas where high grade rock chip samples were taken during an assessment program carried out during fall 2010 up to 61.98 oz/ton silver.