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Molycor Gold Corp. ("Molycor" or the "Company") announces it has changed its name to Nevada Clean Magnesium Inc. and commencing at the opening on Wednesday, April 17, 2012, trading on the TSX Venture Exchange will be under the new symbol "NVM".

 

"We believe the new name better reflects the Company's focus on the development of its Tami Mosi Magnesium Project in Nevada," said Edward Lee, President of the Company.

 

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.

 

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.