Silvor Foxx Capital Corp.

Silvor Foxx Capital Corp.

June 26, 2008 17:03 ET

Silvor Foxx Capital Corp. Announces New Drilling Program at Coxheath, Nova Scotia

HALIFAX, NOVA SCOTIA--(Marketwire - June 26, 2008) - Silvor Foxx Capital Corp. (TSX VENTURE:SFX.P). Mr. Harold Cabrita, President & CEO of the Silvor Foxx Capital Corp. (the "Corporation") is pleased to announce the commencement of an initial summer "Drilling Program" at the Corporation's (through its wholly-owned subsidiary, 3214399 Nova Scotia Limited) property. The Corporation completed its Qualifying Transaction on June 5, 2008 in accordance with Policy 2.4 of the TSX Venture Exchange and, through its wholly-owned subsidiary, earned 100% of the mineral rights to the claims at Coxheath, Cape Breton Island, Nova Scotia, subject to a 3% net smelter return ("NSR"), the terms of which have been disclosed in the Corporation's Filing Statement dated April 03, 2008. The Coxheath property consists of 118 contiguous claims (approximately 1910 ha) and includes a former underground mine that was worked, mined, and thereafter sampled, as disclosed in the Corporation's Filing Statement, to a limited extent from 1894 through to 1947.

There has been approximately 18,000 meters of historic and recent shallow drilling. In 2007, prior to the Corporation's acquisition of the earned mineral rights, an extensive Induced Polarization (IP) survey was conducted covering approximately 2.0 km2 (39 line-kms) that identified 29 high priority IP targets and 26 secondary priority IP targets, with anomaly depths ranging from surface to open at a depth of 500 meters in some sections.

Maritime Diamond Drilling Limited of Hilden, Nova Scotia has been contracted today to drill 2500 meters NQ wireline diamond drill core over multiple targets during this first phase. Drilling is planned to start immediately.

The primary objectives of this drilling program are to drill test a limited number of the shallow as well as deeper IP anomalies and to further define the vertical and lateral extent of known mineralized zones, as defined by recent and historic drilling and mining.

The Coxheath property contains alteration and mineralization patterns that are consistent with typical copper (+/- molybdenum, gold and silver) porphyry-style, as well as shear-hosted deposits.

Lyndon Jensen, P. Geo., is responsible for the management and supervision of the Corporation's exploration program and is the qualified person who has reviewed the contents of this news release.

Forward-Looking Statements

Certain information regarding Silvor Foxx Capital Corp. (SFX) contained herein may be deemed forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although SFX believes that the expectations expressed in such forwardlooking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. SFX cautions that actual performance will be affected by a number of factors, most of which are beyond its control, and that future events and results may vary substantially from what SFX currently foresees. Factors that could cause actual results to differ materially from those in forward-looking statements could include exploitation and exploration results, continued availability of capital and financing and general economic, market or business conditions. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and subject to change after that date.

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Silvor Foxx Capital Corp.
    Harold Cabrita
    President & CEO
    (902) 832-1060
    (902) 422-9208 (FAX)