Corex Gold Corporation

Corex Gold Corporation

January 12, 2006 13:35 ET

Corex Announces Joint-Venture

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Jan. 12, 2006) - Corex Gold Corp. (the "Company") (TSX VENTURE:CGE) is pleased to announce it has entered into a property joint-venture agreement with Hemis Corporation, on Corex's 100% owned Santa Rita property, Zacatecas Mexico in the historic Melchor Ocampo Mining district.

Terms of the Agreement are as follows; Hemis Corporation can earn 49%-interest in the Santa Rita property by spending USD$1,000,000 in exploration over a 3-year term and issuing 200,000 common shares. Corex will continue to be the operator of the joint-venture.

The Santa Rita concession 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.

Craig Schneider, Corex's President & CEO, states, "We are committed to developing the Santa Rita property in Zacatecas, Mexico. The partnership with Hemis Corporation gives Corex Gold Corp. a strong financial partner that will help advance a highly prospective area in our portfolio of properties."


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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