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MOO:TSX Venture Exchange

CALGARY, June 13 /CNW/ - Mooncor Oil & Gas Corp. ("Mooncor") is pleasedto announce that on June 12, 2008 it successfully completed a non-brokeredprivate placement financing of 3,333,333 units ("Units") at a price of $0.15per Unit for gross proceeds of $500,000, and 10,000,000 flow-through units("FT Units") at a price of $0.20 per FT Unit for gross proceeds of $2,000,000.Each Unit consists of one common share in the capital of the Company ("CommonShare") and one-half of one common share purchase warrant. Each FT Unit is toconsist of one flow-through common share in the capital of Mooncor andone-half of one common share purchase warrant. Each whole common sharepurchase warrant shall entitle the holder thereof to acquire one Common Shareat an exercise price of $0.30 per share until June 12, 2010. All securitiesissued pursuant to the financing are subject to a four-month hold period.

The net proceeds will be used by Mooncor for exploration on its oil andgas properties and for working capital.

Including the issuance of shares detailed in this news release, there arecurrently 72,877,948 common shares issued and outstanding.

In connection with the financing, PowerOne Capital Markets Limitedreceived a cash commission of $160,000 and 1,083,333 finder's warrants, FirstRepublic Capital Corp. and Barrington Capital Corp. each received a cashcommission of $16,000 and 100,000 finder's warrants, and Secutor CapitalManagement Corporation and Granite Associates Ltd. each received a cashcommission of $4,000 and 25,000 finder's warrants. Each finder's warrantentitles the holder thereof to acquire one Unit at an exercise price of $0.15per Unit until June 12, 2010.

Business of Mooncor Oil & Gas Corp.

Mooncor Oil & Gas Corp. is a junior oil and gas exploration anddevelopment company with unconventional shale gas, light oil and heavy oilprojects in Saskatchewan and Alberta. Mooncor is focusing on both its oiloperations and its shale gas opportunities.

The TSX Venture Exchange has not reviewed and does not accept

responsibility for the adequacy or accuracy of this press release.