Molycor Adds Power Consultant to Advisory Committee
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 01/11/12 -- Edward Lee, President of Molycor Gold Corp. (TSX VENTURE: MOR)(PINKSHEETS: MLYFF)(FRANKFURT: M1V) ('Molycor' or the 'Company'), is pleased to report the addition of David Wakefield to the Technical Advisory Committee.
Mr. Wakefield has over thirty eight years in the electric power and process industries. His expertise encompasses independent power generation and electric utility equipment. This is combined with experience in systems supply, maintenance, operations, consulting and project development. He has extensive experience in all aspects of the energy and pollution control industries.
Presently, Mr. Wakefield is President of WAI International, Inc. assisting clients in market development, project development and financing within the energy and pollution control industries. His current projects include industrial and small-medium scale Integrated Gasification Combined Cycle facilities (IGCC); innovative systems for coal-fired plants to improve efficiency and reduce emissions; industrial site redevelopment and application of bio-based lubricants.
Previously, Mr. Wakefield served as President and Chief Executive Officer of Econo - Power International Corporation which he founded in 1990. This company identified and significantly upgraded coal gasification systems and separate sulfur removal systems to offer clean, economic and environmentally friendly syngas for power and industrial fuel. He co-holds patents and patents-pending for the combined system and various other patents on the use and application of air-blown gasification. He assembled a world-class management team to develop, finance, construct and manage gasification projects and established relationships with major international contractors, equipment suppliers and financing sources.
Included in Mr. Wakefield's clients are major electric utilities, refining and industrial companies for whom he has negotiated and managed multiple turnkey contracts. Mr. Wakefield has developed a reputation for integrity, innovation, technical excellence, and problem solving.
Edward Lee states, 'We are honoured to have someone of this calibre in a position to assist us with the development of the power island that is to be a part of our magnesium facility.'
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.
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
