CGE

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES


Corex Gold Corp. (TSX VENTURE:CGE) (the "Company"), is pleased to announce that
it has appointed NCP Northland Capital Partners Inc. (the "Agent"), as its agent
to sell, as a private placement on a best efforts basis, 8,500,000 units (the
"Units") at a price of C$0.60 per Unit for gross proceeds of up to C$5,100,000
(the "Best Efforts Offering"). In addition, the Company will grant the Agent an
over-allotment option, exercisable prior to the closing of the Best Efforts
Offering, to increase the size of the Best Efforts Offering by up to an
additional 1,600,000 Units to raise additional gross proceeds of up to C$960,000
(the "Over-Allotment Option", and together with the Best Efforts Offering, the
"Offering").


Each Unit shall consist of one common share of the Company and one half of one
common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant
shall be exercisable into one common share of the Company for a period of 24
months from closing at an exercise price of C$0.75.


The Agent will receive a cash commission on the sale of the Units representing
6.0% of the gross proceeds raised and brokers warrants ("Broker Warrants") equal
to 6.0% of the Units sold under the Offering. Each Broker Warrant shall be
exercisable for one common share of the Company at a price of C$0.65 at any time
up to 24 months after closing. 


The proceeds raised under the Offering will be used for exploration and
development of the Company's mineral properties in Mexico and for general
working capital purposes.


Closing of the Offering is anticipated to occur on or before March 31, 2011 and
is subject to receipt of applicable regulatory approvals including approval of
the TSX Venture Exchange. Securities issued under the Offering will be subject
to a four month hold period which will expire four months from the date of
closing.


This news release does not constitute an offer to sell or solicitation of an
offer to sell any securities in the United States. The securities have not been
and will not be registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act"), or any state securities laws and may not be
offered or sold within the United States unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption from such
registration is available.


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.

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