Funds Managed by Libra Advisors, LLC Acquire Units of Corex Gold Corporation
for Investment Purposes

TORONTO, Oct. 27 /CNW/ - Libra Advisors, LLC ("Libra") announced today that Libra Fund, L.P. and Libra Offshore Master Fund, L.P. (the "Funds") acquired 4,000,000 Units of Corex Gold Corporation ("Corex") at a price of $0.50 per unit.  Each unit is comprised of one common share and one half of one common share purchase warrant.  Each warrant entitles the holder to purchase one common share in the capital of Corex at a price of $0.75 until October 27, 2012 and the expiry date of the warrants is not subject to acceleration.

As a result of the acquisition, the Funds now hold 4,000,000 common shares representing approximately 9.10% of the total outstanding common shares of Corex, and 2,000,000 warrants of Corex that, if exercised, would result in the Funds' holding approximately 13.06% of the total outstanding common shares of Corex.

The Funds acquired the common shares and warrants for investment purposes and may, from time to time, acquire additional securities of Corex or dispose of such securities as they may deem appropriate.

Libra is the investment advisor to Libra Fund, L.P. and Libra Offshore Master Fund, L.P. with principal offices at 909 Third Avenue, 29^th Floor, New York, NY 10022.

For further information:

Mr. Ranjan Tandon, Managing Member, at [phone]