Corex Gold Corporation
TSX VENTURE : CGE

Corex Gold Corporation

November 15, 2007 06:00 ET

Corex Announces Drill Results From Caliche Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 15, 2007) - Corex Gold Corp. (the "Company") (TSX VENTURE:CGE) is pleased to announce it has received partial results on its ongoing 12,000m reverse circulation drill program that has commenced on the Caliche Property located in Sonora State, Mexico.

The objective of the first phase of drilling is to test numerous targets on the Caliche Property. The drill results are presented by target area. Intervals must be at least 10 feet wide, grades are reported at a 0.35 g/t Au cutoff. All drill holes have been surveyed down hole to check for drill hole deviation. Corex utilizes a comprehensive QA/QC program consisting of blank samples, sample duplicates and reference samples to insure assay integrity and to check sample procedure and protocol on the drill rig. Results are as follows;

Cabeza Blanca

The 400 meter long Cabeza Blanca was drill tested with 2 holes. The target is the site of a 2 level underground mine with numerous shafts and other shallower workings. Host rocks are comprised of sandstone and quartz feldspar porphyry. The most common mapped alteration styles are sericite-illite crosscut by quartz vein stockwork. Abundant hematite and goethite are present as disseminations and fracture fillings.

The results are incomplete with the remaining assays expected within a few weeks. The drill holes are 70 meters apart.



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FROM TO INTERVAL
DRILL HOLE (feet) (feet) (feet) Au g/t Ag g/t
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CCR-20 15 70 55 1.38 7.0
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CCR-21 30 45 15 2.35 10.3
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Los Japoneses

Los Japoneses is the site of extensive historical mining on the Caliche property. It is the location of a 3 level mine, portions of which were mined from the surface down to a vertical distance of at least 100 meters. Splays and sub-parallel structures are mapped and evidence of gambusino interest is evident in the smaller pits and shallow shafts that dot the area. Rock types in this area are sandstone, quartz feldspar porphyry and minor siltstone. Alteration is mapped as predominantly phyllic, with lesser sericite-illite. Iron oxides are abundant and consist of both fracture controlled and disseminated hematite and goethite.

14 holes were drilled on the main Los Japoneses structure, associated splays, and sub-parallel structures.

Drill hole spacing varies from 25 meters to greater than 90 meters and is spaced along the whole of the 450 meters of strike length on Japoneses. Assay results are complete for all holes except CCR-17, CCR-18, CCR-19 and CCR-28. The holes are reported from the northern end of the structure to the south.



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FROM TO INTERVAL
DRILL HOLE (feet) (feet) (feet) Au g/t Ag g/t
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CCR-16 425 480 55 0.41 1.0
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CCR-06 0 20 20 0.527 7.8
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60 70 10 0.892 11.5
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110 125 15 0.643 9.3
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155 165 10 1.265 6.5
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CCR-01 65 85 20 0.628 7.8
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CCR-17 10 40 30 0.63 6.2
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CCR-18 75 100 25 7.556 24.8
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incl 5 35.0 95.0
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115 135 20 0.709 2.5
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CCR-10 195 210 15 1.287 nsv
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225 240 15 0.416 nsv
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320 340 20 0.652 4.5
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CCR-05 35 50 15 1.621 16
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70 80 10 0.445 5.5
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220 245 25 1.449 4.0
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CCR-19 0 30 30 0.37 2.7
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CCR-28 40 60 20 0.57 5.0
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nsv equals no significant value


Los Cuervos

This area of historic mining activity is located south and on strike with Los Japoneses to the northwest. Los Cuervos is approximately 400 meters in strike length. Numerous shafts, adits and prospect pits occur throughout the zone. Primary rock type is sandstone, alteration style consists of phyllic, propylitic and abundant iron oxides.

12 holes were drilled along the 400 meters of strike with the drill spacing varying from 25 meters to 85 meters. The drill holes are described from north to south. Results are as follows;



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FROM TO INTERVAL
DRILL HOLE (feet) (feet) (feet) Au g/t Ag g/t
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CCR-15 40 80 40 0.38 nsv
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CCR-14 125 145 20 0.57 1.8
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155 180 25 0.62 1.0
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195 230 25 0.98 2.3
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CCR-27 215 230 15 0.845 1.0
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CCR-25 0 40 40 2.162 28.5
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360 375 15 2.788 2.0
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CCR-13 140 160 20 1.524 5.5
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CCR-24 5 25 20 0.536 2.5
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Mina Abejas

Two short adits and several small prospect pits mark the area known as Mina Abejas. The Abejas area as defined is part of the larger Veta de Oro veins system which has a strike length of at least 700 meters. The strike length of Mina Abejas proper is 250 meters. Host rocks for gold and silver mineralization are siltstones, limestone, and minor amounts of feldspar porphyry. Alteration is dominated by propylitic crosscut by sericte-illite-quartz veins with abundant iron oxides.

A total of 6 holes have been drilled at Mina Abejas, assay results have been received for 5 holes. Drill hole spacing along 150 meters of strike varies from 25 meters to 75 meters.

Drill holes are reported from north to south.



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FROM TO INTERVAL
DRILL HOLE (feet) (feet) (feet) Au g/t Ag g/t
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CCR-29 80 105 25 1.03 3.6
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CCR-22 65 90 25 1.542 14.4
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CCR-02 40 55 15 0.521 1.7
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65 80 15 2.52 5.0
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110 130 20 0.549 13.3
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CCR-23 180 200 20 1.288 11.0
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CCR-30 105 115 10 0.425 nsv
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160 180 20 1.514 9.0
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Corex has completed approximately 1/3 of its intended 12,000m reverse circulation drill program. Drilling is on going to test further exploration targets, to test continuity of intercepts already known, as well as continued mapping, rock chip sampling, and trench mapping and sampling.

Alan D. Hitchborn, Vice President-Exploration, manages Corex's exploration and development programs. Matthew D. Gray, Ph.D., C.P.G., a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this release.

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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