IP Survey Significantly Expands Potential of Santana Project

Corex Gold Corp. (the "Company") (TSX VENTURE:CGE) is pleased to announce that
it has received positive results from the most recent deep 3D IP survey
conducted by SJ Geophysics Ltd. on its 100% owned Santana Property in Sonora
State, Mexico. This latest survey was configured with wider line spacing and
dipole lengths in order to increase the depth of investigation. It included 13
E-W lines, each 3,200m in length and spaced 200m apart. These parameters
effectively increased the depth of investigation to 400 - 500m.


Highlights:



--  Identified new exploration targets 
--  Confirmed & expanded several know mineralized trends 
--  Shown continuity at depth between previous drilled zones 
--  Evidence that Santana is part of a large emerging porphyry district 



Overview of 3D IP Survey:

The new zones confirmed and identified by the deep IP survey are: Benjamin
North-East, Benjamin South-West, Benjamin North, Nicho South-East.


Benjamin North-East: A small chargeability anomaly detected on the 2010 IP
survey, some 400 meters northeast of the Benjamin zone was confirmed by the 2011
survey. The zone appears to be a northeasterly elongated and nearly horizontal
layer, buried approximately 150m below the surface. This zone is bounded to the
north by the NE trending Benjamin Fault zone and to the east and west by NW
striking faults, interpreted from the resistivity and magnetic data. 


Benjamin South-West: A small chargeability anomaly detected on the 2010 IP
survey, some 300 meters south-west of the Benjamin zone was confirmed by the
2011 survey. The combined data reveals a small plug like body buried 150 meters
below the surface. This anomaly exhibits similar characteristics to those
observed at Benjamin. 


Benjamin North: Indications of a northwesterly dipping chargeability layer,
extending from just below the Benjamin Zone to the northwest were evident in the
2010 survey. The 2011 survey has confirmed this response and shows it to be
associated with a large, deep body. 


Nicho South-East: This area includes three sub zones: Divisadero, Santa Lucia
and El Nicho. The 2010 survey mapped localized high chargeability zones across
the area that seemed to be connected depth. The 2011 survey confirmed this
hypothesis, suggesting the bottom of the chargeability zone mostly extends to
about 180m depth. It also detected a deep, easterly plunging high chargeability
root beneath the Nicho South-East zone at the western edge of the area.


Structures:

The 2011 survey confirmed the patterns of northeast and northwest trending
structures (faults) revealed by the 2010 survey. It also shows the dominance of
several NE striking structures at depths of 300 - 500m. One of these interpreted
fault zones appears to connect the Ubaldo zone (to the southwest) to the Nicho
and Marmero zones to the northeast. 


This deeper survey confirms the presence of a large, deeply buried body located
along the eastern and northeastern edges of the study area. This body is
outlined by elevated chargeability and magnetic susceptibility values. Corex
believes this represents a large buried intrusion. 


The geophysical surveys and drilling to date indentified intrusive bodies
associated with volcanic domes which define a seven kilometer corridor in the
Northeast direction and a four kilometer corridor in the Northwest direction
(see attached map and section). In conclusion, there is evidence that the
Santana Project is part of large Porphyry Belt.


Please click on link below for map & section: 

http://www.corexgold.com/i/pdf/NR-29.pdf. 

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. 


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.