Corex Increases and Closes Non-Brokered Private Placement of $1,179,400

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


Corex Gold Corp. (the "Company") (TSX VENTURE:CGE) is pleased to announce it has
increased the previously announced (July 14, 2011) private placement up to
$1,000,000 (3,333,333 units at $0.30 per unit (the "Financing"), and has closed
on 3,931,332 units at a price of $0.30 per unit, ("Unit") for aggregate gross
proceeds of CDN $1,179,400. Each Unit consists of one common share and one half
of one share purchase warrant (the "Warrant"), each whole Warrant exercisable by
the holder to acquire one additional common share at a price of $0.45 for 12
months from Closing. The Warrants are subject to an accelerated expiry which
comes into effect once the shares trade above a weighted average price of $0.50
for any twenty consecutive trading-day period, subsequent to four months from
Closing. In the event of an accelerated expiry, the expiry date will be the
earlier of the regular two year expiry date and 30 days from the date the
Company advises the placees of the accelerated expiry.


Finders' fees of 7% cash and 7% warrants ("Finders Warrant") of the Financing,
in accordance with the policies of the Exchange. Each Finders Warrant entitles
the holder to purchase one common share (a "Finders Share") at a price of $0.45
per Finder Share for a period of 12 months from closing of the Financing for
aggregate cash payments of $74,515 and 248,383 Finders Warrants.


The net proceeds from this private placement will be used for additional
exploration on Corex's Santana project and for general working capital purposes.



In accordance with securities legislation currently in effect, the Shares, the
Warrants and the Warrant Shares issued pursuant to the Financing will have a
restricted "hold" period of four months plus one day from the date of closing of
the Financing.


This press release is not an offer to sell or the solicitation of an offer to
buy the securities, nor shall there be any sale of the securities in any
jurisdiction in which such offer, solicitation or sale would be unlawful prior
to qualification or registration under the securities laws of such jurisdiction.
The securities being offered have not been, nor will they be, registered under
the United States Securities Act of 1933, as amended, and such securities may
not be offered or sold within the United States absent an applicable exemption
from U.S. registration requirements.


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., in particular the potential for the
Santana property to host a large-tonnage gold-silver-copper porphyry system.
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.