Corex Gold Corp. 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.