Silvore Fox Minerals Corp.
TSX VENTURE : SFX

Silvore Fox Minerals Corp.

October 08, 2010 11:09 ET

Silvore Fox Minerals Announces Exercise of Warrants for Proceeds of $591,000

HALIFAX, NOVA SCOTIA--(Marketwire - Oct. 8, 2010) - Silvore Fox Minerals Corp. (TSX VENTURE:SFX) (the "Corporation") is pleased to announce that it has received gross proceeds of $591,000 from the exercise of 9,850,000 warrants issued pursuant to a private placement offering that closed in October 2009. The warrants were exercisable at $0.06 per flow-through share and expired on September 30, 2010. The Corporation has issued 9,850,000 common shares in exchange for the exercised warrants which represents 98.5% of the total number of warrants issued pursuant to the private placement, as closed in October 2009.

The proceeds from the exercise of warrants will supplement the Corporation's current working capital position and will be used to fund exploration work on the Company's flagship Coxheath (Copper/Moly/Gold) porphyry project.

"We are pleased by the confidence and support shown by our shareholders through the exercise of the majority of these warrants", states Harry Cabrita, President and CEO.

About Silvore Fox Minerals Corp.

Silvore Fox Minerals Corp. ("SFX") is a Bedford, Nova Scotia, Canada based public mineral exploration company with 100% mineral rights to the claims at Coxheath, Cape Breton Island, Nova Scotia (known as the 'Coxheath Deposit'). SFX has recently assembled a world class 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 option and joint venture agreements for the 'Oceanview', 'Nictaux' and 'Shortliff' properties, strengthens SFX's position as a regional mineral exploration company.

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.

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