Corex Gold Corporation
TSX VENTURE : CGE

Corex Gold Corporation

October 16, 2009 08:00 ET

Corex Announces Trench Results on Santana Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 16, 2009) - Corex Gold Corp. (the "Company") (TSX VENTURE:CGE) is pleased to announce the successful completion of its initial mechanized trenching program on its 100% owned Santana gold project in Sonora State, Mexico.

La Turena and La Turena North Zone

This sampling is highlighted by a 16 m rock chip collected on an access road to Turena North that averaged 0.81 g/t Au. This trench is comprised of 8 individual 2-m intervals containing gold values ranging from 0.27 to 1.19 g/t Au. The zone is associated with an intrusive breccia, associated with quartz and hematite stockwork, the mineralization is of an oxide nature in a broad zone of hematite stained, moderately to strongly quartz-sericite-pyrite-illite altered breccia. The zone is open to the north, south-east and at depth.

Benjamin Zone

Rock chip sampling has defined over 300 m in a north-easterly trend, and about 120 m in width, an outcropping zone of fractured and breccia controlled alteration where 83 rock chip samples yield an average of 0.64 g/t Au. The maximum rock chip gold assay from this zone was 11.65 g/t Au.

Santa Lucia Zone

A 16 m rock chip across the main Santa Lucia structure averaged 0.52 g/t Au. This trench is comprised of 8 individual 2-m intervals containing gold values ranging from 0.10 to 1.02 g/t Au. The Santa Lucia Zone is located 350 m south-east from La Turena. It is part of the main North West Zone extending from La Micha to the south east to Turena North's Zone to the north-west.

El Nicho Zone

A 28 m rock chip across the main Nicho structure averaged 1.07 g/t AuEq. This trench is comprised of 18 individual 2-m intervals containing gold equivalent values ranging from 0.23 to 2.2 g/t Au Equivalent. Gold values range from 0.07 to 0.71 g/t Au and silver values range from 10.0 g/t Ag to 91.0 g/t Ag. An equivalent ration of 61 was used to calculate the Au equivalent values. This area is located 350 m southeast of Santa Lucia.

Divisadero Zone

A 9 m rock chip across one of the WNW, ESE main Divisadero structures averaged 0.58 g/t Au. This trench is comprised of 6 individual 1.5-m intervals containing gold values ranging from 0.17 to 1.19 g/t Au.

Craig Schneider states, "We are pleased with the positive results generated from the recently completed trenching program. Coupled with the results of our grid soil program (NR Sept 29, 2009) the present drill program will test significant intervals of gold mineralization we received from these programs."

Bruno Barde, P. Geo, manages Corex's exploration and development programs and is the Qualified Person as defined by National Instrument 43-101. He supervised the preparation of the technical information in this release.

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.

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.

Contact Information

  • Corex Gold Corporation
    Craig Schneider
    President & CEO
    604.683.2505
    or
    Corex Gold Corporation
    Chris Bogart
    VP Corporate Development
    604.683.2505
    604.683.2506 (FAX)
    info@corexgold.com
    www.corexgold.com