Corex Gold Corporation
TSX VENTURE : CGE

Corex Gold Corporation

March 29, 2017 09:00 ET

Corex Gold Corp.: Santana heap-leach gold project; 2017 Construction update

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 29, 2017) - Corex Gold Corp. (TSX VENTURE:CGE) ("Corex" or the "Company") is continuing construction and mining activities at its 100%-owned Santana heap-leach gold project in Sonora, Mexico.

Jaw crushing and loading started on Nicho Norte zone in late November 2016. A total of 11,210 tonnes of material was crushed in November and December and loaded onto the 1st leach pad. An additional 11,989 tonnes were loaded in January bringing the total to 23,199 tonnes. The pad loading was completed on January 26, 2017. The heap was contoured and the surface broken up in preparation for leaching.

Construction continued on the bulk test process plant and the completion of the distribution system plumbing with several application methods of leach fluid tested. Application of charged leachant to establish alkaline pH has begun with metal leaching to commence later this month.

A second leach pad will allow a separate batch of finer crushed material to be tested to determine the leach and cost characterization of much finer crushing. The results from the two bulk leach pads will be utilized by the Company to verify metallurgical viability of heap leaching and to optimize the most efficient operating methods and equipment.

Construction of the 2nd leach pad, which connects to the first leach pad, is in progress. The 2nd leach pad is about 4,500 square meters. The earthwork or moving of material is substantially complete. The HDPE liners have been ordered and should be installed in early March 2017. This will provide a total leach pad of about 9,000 square meters.

(For recent photos of the Santana heap-leach gold project click here).

"This is an exciting time for shareholders, as we commence our bulk mining and process testing on our Santana Gold Project," said Craig Schneider, Corex's President and CEO.

The Company is not basing its production effort on a feasibility study with demonstrated mineral reserves and estimated economic and technical viability. As a result, the Company acknowledges and accepts the higher risk of failure with uncertainty of unverified economic and technical outcome. Corex believes the past experience and prudent track record of Chester Millar developing this type of mine helps ameliorate possible technical risk.

Mel Herdrick P. Geo., is the acting Qualified Person as defined by National Instrument 43-101. He has reviewed and approved the preparation of the technical information in this release. He is a shareholder of the company.

The reader should be cautioned the Company has neither completed economic nor technical feasibility studies or metallurgical studies confirming the projected production capacity at Santana and there is no certainty the Company's plans will be economically viable.

About Corex Gold Corp.

Corex Gold Corp. is a Canadian resource company focused on achieving near-term economic gold production from its 100% owned flagship property, Santana Project, Sonora State, Mexico.

Cautionary Statement:

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. 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.

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