Corex Gold Corporation
TSX VENTURE : CGE

Corex Gold Corporation

June 15, 2009 11:38 ET

Corex Announces Close of Private Placement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 15, 2009) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Corex Gold Corp. (TSX VENTURE:CGE) (the "Company") is pleased to announce that it has closed a non-brokered private placement of $600,000, pursuant to the sale of 3,000,000 Units, at $0.20 per unit that was previously announced on May 25, 2009. Each unit will consist of one common share and one warrant, exercisable by the holder to acquire one additional common share at a price of $0.32 in year one and $0.45 in year two. 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 in year one, or $0.65 for any twenty consecutive trading-day period in year two, 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 shares and warrants issued are subject to a four month plus one day hold from the date of closing of the private placement.

The net proceeds from this private placement will be used for additional exploration and on Corex's Santana project and for general working capital purposes.

ON BEHALF OF THE BOARD

Craig D. Schneider, President & CEO

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.

The TSX Venture Exchange has not reviewed and does not accept the responsibility for the adequacy or accuracy of this news release.

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