Vancouver, BC – August 3, 2012 – Corex Gold Corp. (the “Company”) is pleased to announce a non-brokered private placement for up to 13,500,000 units (the “Units”) at a price of $0.08 per Unit (the “Financing”) for aggregate proceeds of up to $1,080,000. Each Unit consists of one common share and one share purchase warrant (the “Warrant”). Each Warrant entitles the holder to subscribe for one common share at a price of $0.15 for a period of twenty four (24) months following the closing of the Financing.

The net proceeds from the issuance of the Units of the Financing will be used by the Company for expenditures on the Company’s Santana Project in Mexico and for general working capital.

The proposed Financing is subject to TSX Venture Exchange approval, and all securities issued pursuant to the Financing will be subject to a four month and one day hold period from the date of closing of the Financing. Finders’ fees in cash or warrants may be payable in accordance with 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. has implemented an on-going exploration program on Corex’s 100% owned Zuloaga property in Zacatecas, Mexico.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold.

ON BEHALF OF THE BOARDON BEHALF OF THE BOARD

“Craig D. Schneider”
President & CEO

FOR FURTHER INFORMATION PLEASE CONTACT:
Craig Schneider,
President & CEO

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.