Sino Minerals Corp.

December 18, 2009 14:12 ET

Sino Minerals Corp. Announces Purchase of Units of Silvore Fox Minerals Corp.

MARKHAM, ONTARIO--(Marketwire - Dec. 18, 2009) - Sino Minerals Corp. ("SMC", formerly China Nonferrous Metals Exploration Corp.) of 7-145 Riviera Drive, Markham, Ontario, L3R 5J6 announced today that on December 17, 2009, SMC acquired ownership of 33,750,000 units ("Units") of Silvore Fox Minerals Corp. ("Silvore") pursuant to a private placement. Each Unit consists of one common share ("Share") and two-thirds of one common share purchase warrant ("Warrant") in the capital of Silvore. Each whole Warrant entitles SMC to purchase one additional Share at $0.10 per Share for the two year Warrant term. As a result of the private placement, SMC owns approximately 31.45% of the issued and outstanding Shares of Silvore. If SMC exercises all of the Warrants, SMC would have ownership over approximately 43.33% of the issued and outstanding Shares of Silvore.

The units were purchased in accordance with the minimum amount investment exemption provided under Section 2.10 of National Instrument 45-106 (Prospectus and Registration Exemptions).

The Units comprised of Shares and Warrants were acquired by SMC for investment purposes. Depending on market and other conditions and subject to compliance with applicable securities laws, SMC may increase or decrease its ownership over securities of Silvore.

About Sino Minerals Corp. (formerly China Nonferrous Metals Exploration Corp.)

SMC is a Canadian corporation majority-owned by Chinese shareholders, including Beijing Donia Resources Co ("Donia"), a state owned entity whose mandate includes exploring for base metal resources worldwide. The Chairman of Donia, Dr. Jingbin Wang, also serves as Executive Director of the China Nonferrous Metals Resource Geological Survey, President of the Beijing Institute of Geology of Mineral Resources, President of Sinotex Mineral Exploration Co, Vice- President of the China Nonferrous Metals Industry Association and Assistant Director of the China Geology Association. Donia's General Manager, Mr. Side Wang, also serves as Vice-Director of the Mineral Resources Management Committee of the China Mining Association.

SMC seeks to invest in mineral exploration and development opportunities in Canada. Its principal office is located at 7-145 Riviera Drive, Markham, Ontario, L3R 5J6.

About Silvore Fox Minerals Corp.

Silvore Fox Minerals Corp. ("SFX") is a Bedford, Nova Scotia, Canada based public mineral exploration company. On June 4th, 2008, the Corporation acquired 3214399 Nova Scotia Limited as a wholly owned subsidiary, including 100% earned mineral rights to the claims at Coxheath, Cape Breton Island, Nova Scotia (known as the 'Coxheath Deposit'). SFX has an experienced management and geological team.

The Coxheath deposit model is believed to be analogous to Pacific Rim volcanogenic porphyry copper deposits. Alteration patterns in association with the regional geological setting further suggest a possible model linking the diorite-hosted porphyry-style mineralization at Coxheath and an epithermal system approximately 4 km to the east. SFX's further recent option and joint venture agreements for the 'Oceanview', 'Nictaux' and 'Shortliff' properties, strengthens SFX's position as a regional mineral exploration company.

Contact Information

  • For further information regarding this press release or to
    obtain a copy of the report filed in respect of the above,
    please contact: Sino Minerals Corp., Helen Gao
    (905) 968-1197