Corex Announces Melchor Ocampo Exploration Update



    CGE (TSX.V)

    VANCOUVER, Feb. 27 /CNW/ - Corex Gold Corp. is pleased to announce it has
received a report regarding the Fourth Quarter 2007 activities relating to the
earn-in agreement between Corex Gold Corporation, Corex Global S. de R.L. de
C.V., and Goldcorp Exploration S.A. de C.V. The report indicates that recent
activities consist of the following:

    Geologic Mapping:
    -----------------
    Geologic mapping, begun August 1, continued through October. Total
geologic mapping through 2007 consisted of approximately 23 Km(2) at 1:20,000
scale and about 5 Km(2) at 1:5,000 scale.

    Rock-chip Sampling:
    -------------------
    A total of 147 rock-chip samples were collected during the fourth quarter
of 2007 and were forwarded to ALS Chemex for analyses. Of these samples,
7 carry (greater than) 1 ppm Au (high of 8.24 g Au/t) and 8 report (greater
than) 100 ppm Ag (high of 513 g Ag/t).

    
    Drilling:
    ---------
    -   Drilling of the "Resurreccisn" target at Melchor Ocampo commenced
        November 3. The first hole was completed November 18 and a second
        Major Drilling rig was moved on-site November 19.

    -   2007 drilling is summarized in the following table:

    MELCHOR OCAMPO 2007 Diamond Drilling (Through Dec. 31, 2007)
    -------------------------------------------------------------------------
    Drill              NAD27                                Drilling To-Date
    Hole        -------------------    Azimuth/  Planned   ------------------
    Number     Easting    Northing       Angle  Depth (m)  Depth (m)  Status
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
                                            180,
    MO-01-07   233,781   2,747,237  -65 degrees      800     826.01       TD
    -------------------------------------------------------------------------
                                            180,
    MO-02-07   233,566   2,747,236  -65 degrees      800     457.20       TD
    -------------------------------------------------------------------------
                                            180,
    MO-02B-07  233,501   2,747,109  -70 degrees              493.98       TD
    -------------------------------------------------------------------------
                                            180,
    MO-03-07   233,316   2,747,287  -65 degrees      750     774.19       TD
    -------------------------------------------------------------------------

    -------------------------------------------------------------------------
    TOTAL:      4            DDH                           2,551.38
    -------------------------------------------------------------------------

    -   All drill hole assays remain pending. ALS Chemex assay turn-around
        currently averages about 9 weeks.
    

    Planned Work
    ------------
    Expansion of geologic mapping and surface sampling are planned for the
first half of 2008. Drilling to test new targets at Melchor Ocampo is planned 
for the second half of 2008.

    ON BEHALF OF THE BOARD

    "Craig D. Schneider"
    President & CEO

    The TSX Venture Exchange has not reviewed and does not accept the
responsibility for the adequacy or accuracy of this news 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.

    %SEDAR: 00005972E




For further information:

For further information: on Corex Gold Corp please contact: Tel: (604)
683-2505, Fax: (604) 683-2506, E-mail: info@corexgold.com

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