Corex Drills 161.5 m of 1.04 g/t Au Including 53.4 m of 1.67 g/t Au and 24.1 m of 3.38 g/t Au at Santana Property, Sonora State,

Corex Gold Corp. (the "Company") (TSX VENTURE:CGE) is pleased to report
continued exploration success achieved through the 20,000 meter 2011 drill
program on its Santana Property, Sonora State, Mexico. Step out and down dip
holes were collared in the Nicho Zone. These new holes have encountered
significant mineralization, including 161.5 m of 1.04 g/t Au including 53.4 m of
1.67 g/t Au and 24.1m of 3.38 g/t Au from hole S11-101D.


Some Drill Highlights Include:



--  S11-101D 161.5 m of 1.04 g/t Au, including 53.4 m of 1.67 g/t Au
    including 24.1 m of 3.38 g/t Au. 
--  S11-099D 170.8 m of 0.51 g/t Au, including 9.7 m of 1.36 g/t Au and 25.3
    m 0.89 g/t Au. 
--  S11-102D 26.7 m of 1.46 g/t Au, 14.4 m of 1.07 g/t Au including 7.0 m of
    2.01 g/t Au and 56.4 m of 0.84 g/t Au including 9.3 m of 2.39 g/t Au. 



Nicho Zone Drill Results:

Mr. Craig Schneider, President & CEO of Corex Gold, states, "We are very pleased
with the initial results from our 2011 drill program. These are the best results
the company has drilled to date on the Santana Property, in both grade and
thickness. The holes confirm a higher grade component to a very robust
mineralized system. Holes S11-099D, S11-100 D, and S11-101 D, on section 101375
NW, are of particular importance as they have confirmed the occurrence of high
grade shoots at the intersection of the northeast and northwest structures. It
is important to note that the Nicho Zone is only one of numerous drill targets
on the property that are open along strike and at depth."


Drilling at Nicho continues to define higher gold grades within the large bulk
tonnage gold target. The mineralization starts from the surface and extends from
the Nicho topographical high to below the NE bearing Nicho ridge. The
significance of these most recent results is the high-grade portion of the
mineralized zone which is structurally controlled and at least 200 m x 200 m x
50 m. Surrounding this high-grade core is a mineralized zone, which is defined
by the distribution of tectonic breccias, and is 400 m x 400 m x 200 m.


Current Drilling/Pending Drill Holes:

Drilling is ongoing at the Nicho Zone and once complete will continue in the
Ubaldo zone to follow up on the new discovery hole which returned 54.9 m at 0.87
g/t Au and 21.8 g/t Ag. (News Release dated December 08, 2010). After the Ubaldo
Zone drilling is complete the rig will then be moved to South-East of the Nicho
Zone (La Micha) where some blue sky targets identified via 3D IP will be tested.
This step out drilling is designed to test the periphery of the know zones to
date.


Corex anticipates a steady stream of drilling news and exploration results over
the upcoming months from its on-going 20,000 m Diamond Drill Program.




Nicho Zone Drill Highlights:

--------------------------------------------------------------------------
                                                           Grade (gpt)      
                      From          To    Interval  ----------------------
Hole #                  (m)         (m)         (m)         Au          Ag
--------------------------------------------------------------------------
S10-094D              29.2        69.7        40.5        0.55        3.69
--------------------------------------------------------------------------
S10-095D             124.4       186.6        62.2        0.61        2.83
--------------------------------------------------------------------------
Including            168.5       186.6        18.1        0.93        1.09
--------------------------------------------------------------------------
S10-096D              81.3       131.2        49.9        0.52        3.27
--------------------------------------------------------------------------
S10-097D             209.8       214.4         4.6        1.69        1.04
--------------------------------------------------------------------------
S10-097D             231.7       241.4         9.8        2.13        0.83
--------------------------------------------------------------------------
S11-098D              57.1        98.7        41.6        0.46        1.65
--------------------------------------------------------------------------
S11-098D             105.6       112.8         7.3        2.05        3.09
--------------------------------------------------------------------------
Including            105.6       111.3         5.8        2.51        0.89
--------------------------------------------------------------------------
S11-099D              42.0        70.7        28.7        0.78        2.11
--------------------------------------------------------------------------
Including             56.6        63.1         6.5        1.99        3.27
--------------------------------------------------------------------------
S11-099D              84.1       254.9       170.8        0.51        1.32
--------------------------------------------------------------------------
Including             90.8       100.5         9.7        1.36        3.27
--------------------------------------------------------------------------
Including            116.5       141.8        25.3        0.89        2.71
--------------------------------------------------------------------------
Including            180.5       190.2         9.7        0.76        1.07
--------------------------------------------------------------------------
Including            217.5       236.9        19.4        0.47        0.44
--------------------------------------------------------------------------
S11-100D            240.2       243.3         3.1         0.5        0.54
--------------------------------------------------------------------------
S11-101D              63.5       225.0       161.5        1.04        1.73
--------------------------------------------------------------------------
S11-101D             169.6       222.9        53.4        1.67        2.78
--------------------------------------------------------------------------
Including            193.8       217.8        24.1        3.38        1.48
--------------------------------------------------------------------------
S11-102D              45.5        72.1        26.7        1.46        3.98
--------------------------------------------------------------------------
S11-102D              89.6       103.4        13.9        0.52        4.09
--------------------------------------------------------------------------
S11-102D             109.9       124.2        14.4        1.07        3.17
--------------------------------------------------------------------------
Including            109.9       116.9         7.0        2.01         3.3
--------------------------------------------------------------------------
S11-102D             132.0       188.4        56.4        0.84        3.05
--------------------------------------------------------------------------
Including            132.0       141.3         9.3        2.39        1.34
--------------------------------------------------------------------------

- Reported intervals must be at least 1.5 meters wide; drill hole 
intercepts are reported at a 0.1 g/t Au cutoff or a 0.4 g/t Au cutoff. 
Intervals contain no more than nine low-grade to barren samples between 
mineralized samples containing over 0.1 g/t Au or intervals contain no 
more than two low-grade to barren samples between mineralized samples 
containing over 0.4 g/t Au.
Corex utilizes a comprehensive QA/QC program consisting of blanks, drill 
rig sample duplicates and reference samples to ensure best practices are
followed and the data collected is of the highest quality. All samples 
were prepared to normal industry standards and assayed for gold by Fire 
assay with AA finish by Acme Industrial Company (ISO 9001:2008 registered
quality system). Intercepts are close to true thickness.



Please click the following link for a map and section 101375 NW for the Nicho
Zone: http://www.corexgold.com/i/pdf/NichoOverview.pdf 


The table with the drill hole locations, dips, lengths and .2 g/t Au comp. will
also be updated on website shortly.


Bruno Barde P. Geo., manages Corex's exploration and development programs and is
the Qualified Person as defined by National Instrument 43-101. He supervised the
preparation of the technical information in this release.


About Corex Gold Corp.

Corex Gold Corp. is a Canadian resource company focused on the acquisition,
exploration, and development of precious metal deposits in Mexico. Corex is
currently developing its flagship property, the Santana Project, which is a new
gold discovery in Sonora, Mexico. In addition, Goldcorp Inc. has implemented an
on-going exploration program on Corex's 100% owned Zuloaga property in
Zacatecas, Mexico.


ON BEHALF OF THE BOARD

Craig D. Schneider, President & CEO

Cautionary Statement

The foregoing information may contain forward-looking statements relating to the
future performance of Corex Gold Corp., in particular the potential for the
Santana property to host a large-tonnage gold-silver-copper porphyry system.
Forward-looking statements, specifically those concerned with future performance
are subject to certain risks and uncertainties, and actual results may differ
materially. These risks and uncertainties are detailed from time to time in
Corex Gold Corp.'s filings with the appropriate securities commissions.
Corex Gold Corporation (TSXV:CGE)
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