Corex Gold Corporation
TSX VENTURE : CGE

Corex Gold Corporation

April 24, 2007 09:00 ET

Corex Gold Corp. Announces Unit Private Placement of Up to $5 Million

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 24, 2007) -

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Corex Gold Corp. ("Corex" or "the Company") (TSX VENTURE:CGE) is pleased to announce that it has appointed Haywood Securities Inc. ("the Agent") as its agent to offer, on a private placement basis, a minimum of 3,340,000 units and a maximum of 5,560,000 units of the Company at a price of $0.90 per unit for gross proceeds of a minimum of $3,006,000 and up to CDN$5,004,000. Each unit (a "Unit") will consist of one common share (a "Share") and one-half of one transferable common share purchase warrant (each whole such purchase warrant being a "Warrant"). Each Warrant will be exercisable to purchase a Share of the Company at a price of $1.25 per Share for two years.

The net proceeds from the Unit offering will be used to conduct exploration on the Company's Mexican resource properties and to provide a suitable working capital reserve. The offering is subject to regulatory approval.

The Company has agreed to pay the Agent a fee of 7% of the gross proceeds raised in cash or units and to issue the Agent compensation options entitling the Agent to acquire that number of shares equal to 7% of the Units sold exercisable for two years at $0.94 per share.

The Company

Corex is a Vancouver-based junior gold exploration and development company active in its search for high quality projects that meet the Company's corporate objectives. Corex is focused on evaluating gold projects that have low production cost potential and contain the likelihood of a 1,000,000-ounce plus deposit.

ON BEHALF OF THE BOARD

Craig 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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