Corex Identifies More Gold and Acquires New Claims at Santana Property

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 31, 2011) - Corex Gold Corp. (the "Company") (TSX VENTURE:CGE) is pleased to announce that newly identified gold zones have been acquired on claims contiguous to the Santana Property, located in Sonora State Mexico. These areas have been identified by the company's ongoing reconnaissance program consisting of geo-chemical mapping and sampling. A total of 364 hectares in 6 new claims were acquired through a lottery held by the Direccion de Minas.

The area is located 4.5 km southeast of Nicho area (Main Zone); and is lying along one of the major northwest structural lineaments. The alteration area of El Pima at the southern contact of a quartz-monzonite plug is an altered area two kilometers long in a southeasterly direction by one kilometer in a northeasterly direction.

On the new claims, preliminary geological reconnaissance has outlined a similar geological and alteration setting as observed in the Nicho zone (please refer to news release dated March 24, 2011). Geology encompasses an andesitic package intruded by a monzonite to quartz–monzonite stock covered by a rhyolitic flows and tuff. Quartz–pyrite–tourmaline breccias, highly oxidized on surface and displaying moderate to strong sericitic alteration have been observed. Two structural systems control favorable alteration and small old workings were noted on the claims; Gold, Silver and Copper values had been reported by samples taken on both northwest and northeast structural systems. An area of strong alteration with some old workings returned an anomalous area of 500 m x 500 m with gold values ranging from 0.1 to 3.3 g/t Au. Detail mapping and sampling is ongoing to delineate further drill targets.

Bruno Barde P. Geo., manages Corex's exploration and development programs and is the Qualified Person as defined by National Instrument 43-101. He supervised the preparation of the technical information in this release.

Please click on link below for map outlining new claims

http://www.corexgold.com/i/pdf/Corexnewclaims.pdf  

About Corex Gold Corp.

Corex Gold Corp. is a Canadian resource company focused on the acquisition, exploration, and development of precious metal deposits in Mexico. Corex is currently developing its flagship property, the Santana Project, which is a new gold discovery in Sonora State, Mexico. In addition, Goldcorp Inc. has implemented an on-going exploration program on Corex's 100% owned Zuloaga property in Zacatecas State, Mexico.

ON BEHALF OF THE BOARD 

Craig D. Schneider, President & CEO

Cautionary Statement:

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.