Gold Investment News - Corex Gold Drills Best Hole to Date at Santana

Corex Gold Drills Best Hole to Date at Santana

VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 29, 2010) - Corex Gold Corp. (TSX VENTURE:CGE) (the "Company") is pleased to report continued exploration success achieved through the 2010 drill program on its Santana Property, Sonora State, Mexico. In-fill holes were collared in the El Nicho Zone between two previous drill target areas that were 500 m apart. These new holes encountered significant mineralization in S10-058D which returned 75.3 m of 0.96 g/t Au including 21.5 m of 1.47 g/t and 12.2 m of 1.38 g/t. Hole S10-060D, a 90 m step out from S10-058D returned 79.7 m of 0.97 g/t Au including 29.2 m of 1.88 g/t Au.

Nicho Zone

Drilling to date occurred in 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. Craig Schneider, President & CEO stated, "The new holes in our Nicho Zone are significant because the mineralization occurs in a strongly dilatational structural setting. These results from the Nicho zone show a striking correlation over multiple large northwest bearing structures over a 700 m width."

Hole #	Sect.	From (m)	To (m)	Interval (m)	Grade (gpt)		%
Hole #	Sect.	From (m)	To (m)	Interval (m)	Au	Ag	Cu
S10-055D	101425NW	24.3	34.5	10.2	0.66	9.5	NSV
Include		24.3	29.5	5.2	1.08	17.0	NSV
S10-055D		65.8	67.0	1.2	0.58	3.7	NSV
S10-058D	101450NW	55.2	130.5	75.3	0.96	3.5	NSV
Include		81.8	103.3	21.5	1.47	6.1	NSV
Include		116.5	128.7	12.2	1.38	1.6	NSV
S10-058D		182.5	231.5	49.0	0.73	2.03	NSV
S10-060D	101350NW	42.9	122.6	79.7	0.97	2.9	NSV
Include		57.0	86.2	29.2	1.88	4.7	NSV
S10-060D		158.9	233.6	74.8	0.52	3.9	NSV
Include		180.3	190.0	9.7	1.35	13.3	NSV
S10-062D	101350NW	145.1	169.1	24.0	0.75	2.1	NSV
Include		156.6	167.7	11.1	1.11	2.4	NSV
S10-062D		291.2	297.3	6.1	0.83	0.2	NSV
Include		291.2	292.7	1.5	1.90	0.2	NSV

*Reported intervals must be at least 1.5 meters wide; drill hole intercepts are reported at a 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 highlights:

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

Cautionary Statement

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.

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.