Corex Announces Non-Brokered Private Placement for up to 3,333,333 Units

"NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES"


Corex Gold Corp. (the "Company") (TSX VENTURE:CGE) is pleased to announce a
non-brokered private placement of up to 3,333,333 units at a price of $0.30 per
unit, for aggregate gross proceeds of up to CDN $1,000,000. Each unit will
consist of one common share and one half warrant, exercisable by the holder to
acquire one additional common share at a price of $0.45 for 12 months from
Closing. The warrants are subject to an accelerated expiry which comes into
effect once the shares trade above a weighted average price of $0.50 for any
twenty consecutive trading-day period, subsequent to four months from Closing.
In the event of an accelerated expiry, the expiry date will be the earlier of
the regular two year expiry date and 30 days from the date the Company advises
the placees of the accelerated expiry. The Private Placement and payment of any
finder's fee are subject to acceptance by the TSX Venture Exchange.


The net proceeds from this private placement will be used for additional
exploration on Corex's Santana project and for general working capital purposes.
The proposed financing is subject to the approval of the TSX Venture Exchange.


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. (TSX:G)(NYSE:GG)
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. 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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