MOO Moon River Moly Ltd

Mooncor Oil & Gas Corp. ("Mooncor") (TSX VENTURE: MOO) is pleased to announce that, effective April 1, 2011, it has engaged Contact Financial Corp. ("Contact Financial") to provide investor relations services to Mooncor for an initial term of six months, subject to regulatory approval, which the parties may mutually agree to extend on a month-to-month basis thereafter for a monthly fee of $6,000 plus reasonable out-of-pocket expenses.

Contact Financial is a Vancouver-based strategic marketing and communications firm with experience in creating exposure for resource exploration and development companies to a variety of audiences. Contact Financial's services will include providing advice to Mooncor with respect to corporate development, production and distribution of investor-focused communication tools, and increasing awareness of Mooncor within the financial community. The firm is owned and operated by Kirk Gamley.

In addition, as per the announcement of April 8, 2011, Mooncor has granted Contact Financial stock options to purchase 300,000 common shares at an exercise price of $0.195 per share expiring on April 8, 2021. These options will vest quarterly over a 12-month period.

Mooncor's three and half year relationship with First Canadian Capital Corp. will cease on May 8, 2011.

Business of Mooncor Oil & Gas Corp.

Mooncor Oil & Gas Corp. is a junior oil and gas exploration and development company focusing on shale gas opportunities. Mooncor's current emphasis is on securing a joint venture partner for its proven Muskwa/Duvernay shale gas project at Hamburg, Alberta. It is also pursuing opportunities to realize near-term value from its southwest Ontario assets, potentially through a spin-off into a new entity.

The information in this news release includes certain information and statements about management's view of future events, expectations, plans and prospects that constitute forward looking statements. These statements are based upon assumptions that are subject to significant risks and uncertainties. Because of these risks and uncertainties and as a result of a variety of factors, the actual results, expectations, achievements or performance may differ materially from those anticipated and indicated by these forward looking statements. Although Mooncor believes that the expectations reflected in forward looking statements are reasonable, it can give no assurances that the expectations of any forward looking statements will prove to be correct. Except as required by law, Mooncor disclaims any intention and assumes no obligation to update or revise any forward looking statements to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward looking statements or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts: Mooncor Oil & Gas Corp. Richard Cohen Vice-President (Corporate Development) (905) 882-4422 rcohen@mooncor.com Contact Financial Corp. (778) 327-5019 info@contactfinancial.com