Vale Gives Notice of Termination of Option Agreement on Santana Project

Vale Gives Notice of Termination of Option Agreement on Santana Project
  
 

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 22, 2014) - Corex Gold Corp. (TSX-VENTURE:CGE) ("Corex" or the "Company"), wishes to announce that it has received notice from Vale Explorationes Mexico, S.A. de C.V. ("Vale") that Vale is terminating its option on the Company's Santana Property in Sonora Mexico effective as of January 31, 2014. The option was granted further to the Exploration Option Agreement (the "Agreement") made November 5, 2012.

By delivering this notice, Vale hereby informs Corex of its intention to abandon all its rights and options granted under the Agreement in accordance with Section 2.4 of the Agreement. As of the date of termination Vale had not yet earned an interest in the Santana Property and as a result the Santana Property continues to be held 100% by Corex.

Corex is awaiting the remaining assays of 8 holes of the 4000m drill program completed by Vale, and will release them upon receipt of this information.

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.

Corex Gold CorporationCraig SchneiderPresident & [e-mail]