Corex Gold Corporation

Corex Gold Corporation

March 30, 2005 09:54 ET

Corex Closes Private Placement


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: COREX GOLD CORPORATION

TSX VENTURE SYMBOL: CGE

MARCH 30, 2005 - 09:54 ET

Corex Closes Private Placement

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 30, 2005) - Corex Gold
Corp. (TSX VENTURE:CGE) (the "Company") is pleased to announce that it
has completed the brokered private placement announced on January 26,
2005. The company has issued 1,266,000 units at the price of $0.60 per
unit to raise gross proceeds of $759,600. Each Unit consists of one (1)
Common share (a "Share") and one-half (1/2) of one non-transferable
warrant. A full warrant (a "Warrant") will entitle the holder to
purchase an additional Share for two-years from the Closing of the
Offering at a price of $0.75.

The Company engaged Canaccord Capital Corporation to act as the agent on
the Offering. (the "Agent"). The Company paid the Agent an
administration fee of $5,000, a corporate finance fee of 85,000 Units, a
commission of 8% ($53,118 of which was paid in cash and $7,650 of which
was paid in units having the same terms as the Offering) and broker's
warrants equal to 10% of the number of Units sold under the Offering.
Each broker's warrant is exercisable to purchase one Share for $0.65 per
share for two-years from the closing of the Offering.

All securities issued (and any issued upon the exercise of underlying
warrants) will bear a 4-month TSX restrictive legend in addition to
legends required in each of the local jurisdictions.

The Company will use the net proceeds from the completed offering to
further advance the development of its Mexican resource properties, and
to provide working capital.

On Behalf Of The Board

"Craig D. Schneider"

President

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Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Corex Gold Corp
    Investor Relations
    (604) 683-2505
    (604) 683-2506 (FAX)
    Email: info@corexgold.com
    Website: www.corexgold.com
    The TSX Venture Exchange has not reviewed and does not accept the
    responsibility for the adequacy or accuracy of this news release.