Vancouver, BC – February 14, 2012 – Corex Gold Corp. (the “Company”) further to its news release of January 20, 2012 is pleased to advise it has received TSX Venture Exchange (“Exchange”) approval on the Amendment Agreement for the acquisition of the Hilda 35 Fraccion 1 mining concession.

The key terms of the Amending Agreement, and exercise of the Final Contract include:

1. US$150,000 to be paid on or before December 9, 2011 (paid); and
   
2. US$569,000 to be paid on or before January 23, 2012 (paid).

In consideration for the Amending Agreement, the Company has agreed subject to an additional payment of US$200,000 payable in common shares (the “Shares”) of the Company at a deemed price in accordance with the policies of the Exchange at the time of issuance. The Shares will be issued in two tranches as follows:

1. US$100,000 (CDN$100,950) within 10 days of the exercise of the Final Contract (528,534 issued at a deemed price of CDN$0.19);
   
2. US$100,000 on or before June 30, 2012.

The Company further to its news release of January 20, 2012 advises it has received Exchange approval on the amended terms an unsecured Convertible Promissory Note (the “Note”) with a private investor (the “Holder”) for CDN$570,000 (the “Principle Sum”). The Principle Sum plus interest of 8.8% per annum (“Interest”) is due on or before January 20, 2013 (the “Maturity Date”).

The Holder will have the right at any time prior to the Maturity Date, subject to the approval of the Exchange, to convert:

1. the Principal Sum into common shares of the Company (“Shares”) at a conversion price equal to the greater of $0.20 and the Market Price (as defined in the policies of the Exchange.

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 discovery in Sonora, Mexico. In addition, Goldcorp Inc. (TSX:G – NYSE:GG) has implemented an on-going exploration program on Corex’s 100% owned Zuloaga property in Zacatecas, Mexico.

ON BEHALF OF THE BOARD

“Craig D. Schneider”
President & CEO

FOR FURTHER INFORMATION PLEASE CONTACT:

Craig Schneider,
President & CEO

or

Chris Bogart
VP Corporate Development

Tel: 604.683.2505
Fax: 604.683-2506
E-mail: [email protected]
Website: www.corexgold.com

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.