Corex Gold Corporation
TSX VENTURE : CGE

Corex Gold Corporation

April 30, 2007 11:13 ET

Corex Announces Positive Results on its Caliche Property

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 30, 2007) - Corex Gold Corp. (TSX VENTURE:CGE) is pleased to announce positive results on the 100% owned Caliche property (refer to news release dated April 04, 2007). The Caliche property, located in Sonora State, Mexico, consists of approximately 1,500 hectares. The property hosts at least 5 historic multi-level mines and numerous small-scale gambusino style workings.

Corex is rapidly advancing 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, siltstone-sandstone-arkose, and phaneritic intrusive rocks. The target exhibits favorable alteration over several square kilometers. The structural setting is dominated by a northwest trending right lateral wrench fault system.

The results from this first phase of detailed mapping (1:5000 scale), and sampling have identified numerous gold and silver zones. Some initial results are reported as follows:

Los Japoneses Zone, minimum 3 kilometre strike length, widths of favourable alteration greater than 200 metres in places, hosted in sedimentary and intrusive rocks. An area of alteration roughly 600 metres by 200 metres, sampled by 48 channel and outcrop samples on roughly 60 metre or less centres returned an average grade of 1.02 g/t gold. The sampled zone is open along strike northwest and southeast.

Chinos Altos Zone, minimum 1.5 kilometre strike length, widths of greater than 100 metres of favourable alteration, hosted in sedimentary and intrusive rocks. 6 samples from the north portion of Chinos Altos along 700 metres of strike sampled on 100 metre centres returned the following results: 3.50 g/t gold outcrop sample, 4.40 g/t gold dump sample, 0.877 g/t gold outcrop, 0.520 g/t gold 1.3 metre channel, 2.02 g/t gold 1.6 metre channel, 7.53 g/t gold 3 metre channel.

El Zorrillo Zone, hosted in sediment and intrusive rocks, early stage of sampling only 7 samples to date, highlight is a 5 metre wide channel sample which assayed 5.76 g/t gold. Additional mapping and sampling is underway.

Corex is currently undertaking a detailed mapping, rock chip, chip-channel and grab sampling program covering known gold zones and extensions along and across strike. Corex will focus on prospecting, mapping and sampling the other altered zones on the Caliche property. Corex will also mobilize a D-7 bulldozer to; clean existing roads in preparation for channel sampling, trench across mineralized zones and to prepare drill pads. Permitting activities have been initiated for a first phase 12,000 metre drill program in June 2007.

Alan D. Hitchborn, Vice President-Exploration, manages Corex's exploration and development programs. John Carden P. Geo, a Corex Director, and a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this release. All samples were prepared by ALS Chemex, Hermosillo and assays were completed by ALS Chemex, North Vancouver, and B.C.

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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