MOONCOR ANNOUNCES GRANT OF INCENTIVE STOCK OPTIONS

CALGARY, May 11 /CNW/ - Mooncor Oil & Gas Corp. ("Mooncor") (TSXV:MOO) announced today that its board of directors has approved the grant of 186,000 stock options to one of its directors at an exercise price of $0.23 per common share expiring on May 11, 2021. These options were granted to replace options that expired on May 10, 2011.

Mooncor currently has 121,953,956 issued and outstanding common shares and accordingly can grant up to 12,195,395 stock options pursuant to its stock option plan. Including the grant announced today, Mooncor currently has 11,725,000 stock options outstanding.

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.

SOURCE Mooncor Oil and Gas Corp.

For further information:

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

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Mooncor Oil and Gas Corp.

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