Vale Drills 49 m of 1.50% Cu, 0.37 g/t Au and 97.49 g/t Ag on First Drill Hole of Corex's Santana Project

Corex Gold Corp. ("Corex" or the "Company") (TSX:CGE) is pleased to announce
results from drill hole SNT-DH0001 provided by its joint venture partner Vale
Exploraciones Mexico S.A. de C.V. ("Vale"), a wholly-owned subsidiary of Vale
S.A. (please refer to NR 02-13 and to NR 05-13). This first hole of a 4000 m
first phase drill program has intersected a significantly mineralized
copper-gold-silver system in the Benjamin zone at the Company's Santana
Property, Sonora, Mexico. Hole SNT-DH0001 from 173 m to 222 m intersected
mineralization averaging 1.50% Cu, 0.37 g/t Au and 97.49 g/t Ag. 


The mineralized highlights of drill hole SNT-DH0001 at Benjamin are as follows: 



---------------------------------------------------------------------------
                                                            %   Grade (gpt)
                                 From     To  Interval  -------------------
Hole #        Northing/Easting    (m)    (m)       (m)     Cu     Au     Ag
---------------------------------------------------------------------------
SNT-DH0001      3139167/674149    173    222        49   1.50   0.37  97.49
---------------------------------------------------------------------------
- Vale utilizes a comprehensive QA/QC program consisting of blanks, drill 
rig sample duplicates and reference samples to insure best practices are    
followed and the data collected is of the highest quality. All samples were 
prepared to normal industry standards and analyzed at ALS Chemex Labs Inc.  



Drill Hole Geological Summary:

- SNT-DH0001: collared at the top of a hill, the hole was targeted to
investigate a deep chargeability anomaly.. The drill hole had a - 80 degree dip
was completed to 600.30 m in length. Volcanic rocks are intruded by fine-grained
monzodiorite and medium/coarse-grained monzodiorite. There are two main zones of
jig-saw type breccia with a quartz-tourmaline-pyrite matrix. From 176 to 253 m,
the breccia contains important amounts of tetrahedrite and chalcocite
mineralization, whereas from 412 m to the bottom of hole, the breccia contains
predominantly pyrite - approximately 12 to 20%. A leached zone is observed until
about 120 m, almost completely leached until 40 m and with some zones of
chalcocite down to the bottom of the hole. In the following 80 m pyrite and
chalcocite replacing chalcopyrite is observed. An enrichment of chalcocite
(approx. 3%) is found between 172 and 183 m, within the first intercepted
brecciated zone. Tetrahedrite is noted in the interval from 183 to 235 m.
Veinlets with trace chalcopyrite are found between 503 and 543 m. Alteration in
the drill hole is dominantly chloritic with sericitic alteration and
weak-to-moderate silicification associated with the breccia. The breccia zones
intersected are believed to occur as subvertical pipe-like bodies.


Craig Schneider, President and CEO of Corex states, "This drill hole in the
Benjamin Zone is particularly relevant because it confirms the potential to host
a large tonnage copper-gold-silver porphyry system. This first drill hole at
Benjamin coupled with the adjacent oxide and sulphide gold bearing zones from
past drill programs, expands the resource and exploration potential of this
rapidly evolving district".


The project's position within a known porphyry-bearing belt, lends support to
the hypothesis that the mineralization discovered at Santana may be peripheral
to and genetically related to an unexposed porphyry system. Further drill holes
of this first phase program will be released upon receipt of information by Vale
S.A.


Vale Exploraciones Mexico S.A. de C.V. ("Vale"), a wholly-owned subsidiary of
Vale S.A. manages the exploration program on the Santana Property, J. Greg
Dawson, MSc, P.Geo is a Qualified Person as defined by National Instrument
43-101 and has reviewed the preparation of the technical information in this
release.


About Vale S.A.

Vale is one of the largest metals and mining company in the world and the
largest in the Americas based on market capitalization. It is the world's
largest producer of iron ore and iron ore pellets and the world's second largest
producer of nickel. Vale also produces manganese ore, ferroalloys, coal, copper,
platinum group metals, gold, silver, cobalt and potash, phosphates and other
fertilizer nutrients. To support Vale's growth strategy, the company is actively
engaged in mineral exploration efforts in several countries around the globe.
Vale operates large logistics systems in Brazil and other regions of the world,
including railroads, maritime terminals and ports, which are integrated with its
mining operations. In addition, Vale has a portfolio of maritime freight assets
to transport iron ore. Directly and through affiliates and joint ventures, Vale
also has investments in energy and steel businesses.


About Corex Gold Corp

Corex Gold Corp is a Canadian resource company focused on the acquisition,
exploration, and development of precious/base metal deposits in Mexico including
its 100% owned flagship property, the Santana Project, which is 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:

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.



FOR FURTHER INFORMATION PLEASE CONTACT: 
Corex Gold Corporation
Craig Schneider
President & CEO
604.683.2505
604.683.2506 (FAX)
[e-mail]
www.corexgold.com