Vancouver, BC – February 9, 2012 – Corex Gold Corp. (the “Company”) is pleased to announce a non-brokered private placement of up to 8,333,333 units at a price of $0.18 per unit, for aggregate gross proceeds of up to CDN $1,500,000. Each Unit will consist of one common share and one non-transferable share purchase warrant. Each warrant (the “Warrant”) will be exercisable by the holder to acquire one additional common share at a price of $0.30 for 24 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 24 month expiry date and 30 days from the date the Company advises the placees of the accelerated expiry.

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. Finders’ fees in cash or warrants may be payable in accordance with the policies of the 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

FOR FURTHER INFORMATION PLEASE CONTACT:

Craig Schneider,
President & CEO

or

Chris Bogart
VP Corporate Development

Tel: 604.683.2505
Fax: 604.683-2506
E-mail: [email protected]
Website: www.corexgold.com

This press release is not an offer to sell or the solicitation of an offer to buy the securities, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent an applicable exemption from U.S. registration requirements.

Cautionary Statement:
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.” 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.