Corex Gold Corporation

Corex Gold Corporation

April 04, 2007 10:55 ET

Corex Announces Caliche Property Acquisition

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 4, 2007) - Corex Gold Corp. (TSX VENTURE:CGE) (the "Company) is pleased to announce it has signed four property option agreements under which it collectively holds rights to acquire a 100% interest in thirteen contiguous mining concessions consisting of approximately 1,500 hectares, collectively known as the "Caliche" Property. The Caliche property has numerous historic small-scale gold mining operations and is located in Sonora State, Mexico.

During the first quarter of 2007, Corex initiated geologic mapping and sampling on the Caliche property and has defined numerous gold and silver bearing structures that warrant additional geologic work. Gold-silver mineralization is hosted in quartz feldspar porphyry, siltstones-sandstones-arkoses, and phaneritic intrusive rocks. The target exhibits favorable alteration over several square kilometers. The structural setting is dominated by northwest trending right lateral wrench faults, synthetic strike slip faults and antithetic, northeast trending left lateral wrench faults. Additional sampling and detailed geologic mapping are underway in order to define targets which will be drill-tested this summer.

Corex's rights are held under four separate option agreements, one with each of Sr. Juan Pedro Fernandez, Sr. Edward Rivas, Sr. Arturo Galvez, and Sr. Ernesto Lopez (collectively, the "Optionors"). Corex may acquire a 100% interest in all of the concessions which comprise the Caliche Property by paying the Optionors, collectively, US $80,000 upon signing a definitive agreement, and making payments every six months thereafter for three years in the following amounts: US$35,000 (6 months), US$75,000 (12 months), US$90,000 (18 months), US$145,000 (24 months), US$170,000 (30 months) and US$2,551,030 (36 months). There is no N.S.R or underlying royalties associated with the Caliche Property. The acquisition remains subject to regulatory approval.

Corex's geologic programs are managed by Alan D. Hitchborn. Fernando Oviedo, P. Geo., a Consulting Geologist for Corex Gold Corp., and a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this release. All samples are prepared by ALS Chemex, Hermosillo and assays completed by ALS Chemex, North Vancouver, B.C.


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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