“Parser Error Message: Could not load type” in Global.asax

I’m working on an MVC3 project and receive the following error:

Parser Error Message: Could not load type ‘GodsCreationTaxidermy.MvcApplication’.

Source Error:

Line 1: <%@ Application Codebehind="Global.asax.cs" Inherits="GodsCreationTaxidermy.Core.MvcApplication" Language="C#" %>

The error I get is cannot load GodsCreationTaxidermy.Core.MvcApplication but in this screen shot the Core part isn’t displaying in the error:

Does anyone have any ideas or a solution to this error?

Check that the project output path (project properties / Build) is set to bin and not bin\Release or bin\Debug

For some reason IIS (VS development Server or Local IIS) always accesses the libraries from the bin directory (and won’t look up for subdirectories)