Corex Gold Corporation

Corex Gold Corporation

May 25, 2006 06:00 ET

Corex Gold Corporation: Santa Rita Concession Update

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - May 25, 2006) - Corex Gold Corp. (the "Company") (TSX VENTURE:CGE) is pleased to announce its First Quarter Report 2006 for its Santa Rita Concession in Zacatacas, Mexico. The Santa Rita concession (currently under joint-venture agreement with Hemis Corporation, please refer to news release dated Jan. 12, 2006) contains 22,982 hectares (230 sq. km) in the highly prospective Sierra Madre Oriental of Zacatecas State. The rocks in this portion of Mexico are comprised of carbonate rocks intruded by plutons responsible for carbonate-hosted mantos, breccia pipes, and polymetallic skarns. Examples in this district include; the polymetallic deposit of La Naranjera, Noche Buena, Terminal, Bonanza and Penasquito as well as the nearby Concepcion del Oro district.

First Quarter Report - Santa Rita Concession

Extensive mapping and sampling have been carried out during the first quarter of 2006 on the Santa Rita Concession. This principally consists of re-examination of areas with small mines and prospects, in order to:

1) look for associated bulk-mineable, disseminated deposits not economic for the historic small miners and prospectors of the region and,

2) better understand the styles and controls of mineralization in the area to prospect for blind deposits, covered by alluvium/colluvium or unmineralized strata.

Some regional sampling was also done to check areas of anomalous Fe-ox detected in Aster images and to examine geophysical anomalies and major structures thought to be related to mineralization.

This work included Au (AA) and 34 element ICP analyses for 373 samples, and geologic mapping and traverses in extensive areas of the concession, including most of the known mineralized occurrences on the concession.

Several areas have been identified for follow-up work. Two of these areas are hosted by the Caja Shale, a unit comprised of often carbonaceous shale interbedded with thin limestone, with potential for moderately large tonnage/low grade Au-Ag-Pb-Zn ore deposits. These mineralized zones have potential for additional tonnage in the Caja shale in areas currently masked by overlying Taraises Limestone. A program including geophysical surveys and drilling is being designed to test this potential.

Fe-oxide anomalies from Aster images examined so far tend to be a result of highly iron-stained caliche, however, these caliche deposits are, in some instances, associated with outcrops of iron-oxide rich breccias in limestone strata, several of which have anomalous As and Sb. The iron-stained caliche could relate to underlying mineralization through which the ground water has passed.

Geologic mapping, as well as information about potentially mineralized structures, has also enabled Corex to better identify the host rocks and assess the potential of the various strata for hosting economic mineralization. For example, some of the massive limestone units of the Zuloaga and Taraises Formations have pockets of mineralization of limited extent, but these are often associated with more widespread disseminated mineralization in the adjacent Caja Shale, in particular where these units are shallow dipping. Conversely, the Caja Shale has not been found to be mineralized to any important extent in areas where there are no signs of mineralization in the adjacent massive limestones. While this is fairly obvious, it does help that the mineralized Caja shale does not look very different from weathered unmineralized Caja Shale. Moreover, small pockets of mineralization in an overlying limestone unit could signal a drill target in the shale beneath. This will aid in planning drill programs for blind deposits in the future.

Additional regional work is planned for the second quarter to follow-up models created during the first quarter to look for further mineralization away from areas of previous mining.

John Carden, Ph.D., P. Geo, is the Corex Gold Corp. Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this release.


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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