Corex Gold Corporation Drills 89.23 m of 1.16g/t Au including 8.5m of 3.48 g/t and 53.9 m of 1.78 g/t. at Santana, Sonora S by 24hgold

Wednesday, November 17, 2010

News Release

Corex Gold Drills 89.23 m of 1.16g/t Au including 8.5m of 3.48 g/t and 53.9 m of 1.78 g/t. at Santana, Sonora State, Mexico.

Vancouver, BC - Nov 17, 2010 - Corex Gold Corp. (the "Company"), is pleased to report continued exploration success achieved through the 2010 drill program on its Santana Property, Sonora State, Mexico. Step out and down dip holes were collared in the Nicho Zone. These new holes have encountered significant mineralization. S10-079D which returned 89.23 m of 1.16g/t Au including 8.5m of 3.48 g/t and 53.9 m of 1.78 g/t.

Some Drill Highlights Include:

S10-079D- 89.23 m of 1.16g/t Au (including 8.5m of 3.48 g/t and 53.9 m of 1.78 g/t Au)
S10-076D- 31.3 m of 1.39 g/t Au
S10-070D- 27.9 m of 1.22 g/t Au

Nicho Target
The success from the most recent drill program occurred on a 1000 m x 700 m gold soil anomaly coincident with ground magnetic and IP survey anomalies. The mineralization is controlled within a gold bearing structural corridor that is open in all directions and at depth. The significance of these most recent results is the high-grade portion of the mineralized zone which is structurally controlled and at least 200 m long, 50 m wide, with a thickness of at least 200 m. Surrounding this high-grade core is a mineralized zone, which is defined by the distribution of the tectonic breccias and has a strike of 400 m, a width of 400 m and an average thickness of 200 m.

Detailed modeling of the high-grade portion of the deposit indicates that the high-grade mineralization is controlled by several echelon structural zones, suggesting significant potential for finding additional high-grade zones.

The Nicho Zone is open in all directions and significantly expands the exploration potential of the project area. Drilling at Nicho is currently on-going to rapidly expand on its resource potential.

Table of Results: Nicho Zone

Hole ID	From (m)	To (m)	Length (m)	Comp Au ppm	Comp Ag ppm	Comp Cu %
S10-079	71.0	160.2	89.2	1.16	3.12	NSV
Include	78.5	132.5	53.9	1.78	4.33	0.15
Include	78.5	87.1	8.5	3.48	5.7	NSV
	193.0	196.1	3.1	1.32	3.19	NSV
S10-079	216.9	258.5	41.7	0.54	0.99	NSV
Include	220.2	242.6	22.4	0.77	1.11	NSV
S10-077D	136.4	161.2	24.8	1.11	4.5	0.13
S10-076D	6.0	24.0	18.0	0.35	3.87	NSV
Include	16.8	18.0	1.2	2.37	3.9	NSV
S10-076D	41.7	54.0	12.3	0.39	0.95	NSV
Include	48.0	54.0	6.0	0.61	1.06	NSV
S10-076D	107.0	112.2	5.2	2.41	1.7	0.1
S10-076D	120.0	151.3	31.3	1.39	2.87	0.17
Include	142.5	151.3	8.8	3.71	5.45	0.28
S10-076D	157.7	191.7	34.0	0.63	2.1	NSV
Include	168.7	185.0	16.3	1.06	2.6	NSV
S10-074D	44.9	85.5	40.6	0.73	2.02	0.1
Include	77.6	85.5	7.9	2.33	2.06	0.16
S10-074D	125.5	206.8	81.3	0.5	1.68	NSV
S10-071R	44.2	73.2	29.0	0.71	3.22	NSV
S10-071R	62.5	73.2	10.7	1.28	6.38	NSV
S10-070D	105.4	126.5	21.1	0.76	15.18	0.25
S10-070D	105.4	111.8	6.4	1.19	38.68	0.4
S10-070D	115.2	117.0	1.9	1.72	13.77	0.62
S10-070D	122.3	124.0	1.7	1.72	8.8	0.46
S10-070D	134.5	159.7	25.2	0.37	1.5	NSV
Include	134.5	140.3	5.8	0.65	1.88	NSV
S10-070D	193.0	210.1	17.1	0.33	0.87	NSV
Include	193.0	195.7	2.7	1.07	0.86	NSV
S10-070D	217.5	245.4	27.9	1.22	1.5	0.14
Include	217.5	218.8	*1.3*	*6.85*	7.44	0.77
S10-070D	224.9	229.8	*5.0*	*2.33*	1.86	0.22
S10-070D	234.4	244.3	*9.9*	*1.23*	1.5	0.14
S10-070D	253.7	266.7	13.0	0.49	0.81	NSV
S10-069R	0	10.7	10.7	0.72	1.64	NSV
Include	0	4.6	*4.6*	*1.43*	1.13	NSV
S10-069R	18.3	27.4	9.1	0.66	4.69	NSV
S10-069R	38.1	41.1	3.1	0.5	2.49	NSV
S10-069R	152.4	166.1	13.7	0.31	1.96	NSV
S10-069R	160.0	164.6	4.6	0.5	1.76	NSV
S10-068D	49.3	51.0	1.7	0.64	2.7	NSV
S10-068D	69.3	84.4	15.1	0.32	1.29	NSV
Include	70.6	72.4	1.8	0.93	1.0	NSV
S10-068D	119.6	129.0	9.4	0.42	1.76	NSV
S10-068D	122.5	126.0	3.5	0.79	4.01	NSV
S10-068D	141.0	145.6	4.6	0.48	0.84	NSV
Include	141.0	142.5	1.6	0.88	1.4	NSV
S10-068D	186.5	194.4	7.9	0.53	0.6	NSV
S10-068D	189.7	194.4	4.7	0.76	0.86	NSV
S10-068D	203.8	205.2	1.5	0.56	0.7	NSV
S10-068D	238.5	278.6	40.1	0.33	0.42	NSV
S10-068D	238.5	246.8	8.3	0.46	0.32	NSV
S10-068D	251.4	255.6	4.3	0.51	0.29	NSV
S10-068D	276.5	278.6	2.1	0.75	2.09	NSV
S10-067R	38.1	94.5	56.4	0.47	1.52	NSV
Include	38.1	39.6	1.5	0.69	2.3	NSV
S10-067R	48.8	54.9	*6.1*	*2.1*	2.46	0.19
S10-067R	79.3	82.3	3.1	0.46	2.35	NSV
S10-067R	86.9	94.5	7.6	0.73	2.22	0.17
S10-067R	103.6	198.1	94.5	0.44	1.4	NSV
Include	115.8	125.0	9.2	0.71	2.76	0.16
S10-067R	131.1	146.3	15.2	0.64	2.06	NSV
S10-067R	166.1	181.4	15.2	0.89	2.08	NSV
S10-067R	189.0	190.5	*1.5*	*1.26*	2.3	NSV
S10-066R	59.4	71.6	12.2	0.65	0.88	NSV
Include	68.6	71.6	*3.1*	*1.75*	2.05	0.11
S10-066R	85.3	121.9	36.6	0.61	2.59	NSV
Include	91.4	100.6	9.1	0.9	3.1	NSV
S10-066R	108.2	109.7	*1.5*	*5.79*	2.0	NSV
S10-066R	150.9	152.4	1.5	0.89	6.7	0.43
S10-066R	233.2	254.5	21.3	1.41	3.6	0.24
Include	234.7	253.0	18.3	1.61	3.88	0.27
S10-066R	289.6	294.1	4.6	0.31	1.43	NSV
Include	289.6	291.1	1.5	0.59	3.0	NSV

<li>Reported intervals must be at least 1.5 meters wide; drill hole intercepts are reported at a 0.1, 0.2 g/t Au cutoff or a 0.4 g/t Au cutoff including up to 6.2 m and 3.1 m of internal waste. Corex 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 assayed for gold by Fire assay with AA finish by Acme Industrial Company (ISO 9001:2008 registered quality system). Intercepts are close to true thickness.

Please click the following link for a map detailing the drill hole location and a typical section. The table with the drill hole locations, dips, lengths and .2 g/t comp. will also be updated on website shortly :

http://www.corexgold.com/i/pdf/Nicho.pdf

Bruno Barde P. Geo., manages Corex's exploration and development programs and is the Qualified Person as defined by National Instrument 43-101. He supervised the preparation of the technical information in this release.

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: info@corexgold.com
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., in particular the potential for the Santana property to host a large-tonnage gold-silver-copper porphyry system. 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.

You can also view this News Release on our website at:
http://www.corexgold.com/s/NewsReleases.asp?ReportID=428731

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