CGE

Corex Gold Corp. (the "Company") (TSX VENTURE:CGE) is pleased to announce that
it has completed a private placement of 4,000,000 units (the "Units") at a price
of $0.50 per Unit for gross proceeds of $2,000,000 (the "Financing"). Each Unit
consists of one common share of the Company (a "Common Share") and one-half of
one non-transferable Common Share purchase warrant (each whole warrant, a
"Warrant"). Each Warrant entitles the holder, on exercise thereof, to purchase
one additional Common Share at a price of $0.75 until October 27, 2012 and the
expiry date of the Warrants is not subject to acceleration.


As disclosed in its news release of October 15, 2010 announcing the private
placement, Casimir Capital Ltd. (the "Agent") acted as the Company's agent in
respect of the Financing. On completion of the Financing the Company paid the
Agent a cash commission of 6.0% of the gross proceeds of the Offering and issued
the Agent 240,000 warrants (the "Agent's Warrants"). Each Agent's Warrant
entitles the holder, on exercise, to purchase one additional Common Share at a
price of $0.50 per share until October 27, 2012.


The Units, the Agent's Warrants and the Common Shares issuable under the
Warrants and the Agent's Warrants are subject to a hold period expiring on
February 28, 2011.


The Company intends to use the net proceeds of the private placement for
continued exploration on its mineral properties and for working capital.


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 Corporation. 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 Corporation's
filings with the appropriate securities commissions.

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