Silvore Fox Minerals Corp.
TSX VENTURE : SFX

Silvore Fox Minerals Corp.

December 01, 2010 09:32 ET

Silvore Fox Minerals Announces Warrant Exercise for Gross Proceeds of $1,125,000

HALIFAX, NOVA SCOTIA--(Marketwire - Dec. 1, 2010) - Silvore Fox Minerals Corp. (TSX VENTURE:SFX) (the Corporation) is pleased to report, further to its Press Release dated March 30th, 2010 and June 29, 2010, that 11,250,000 common shares of the Company were issued upon the exercise of outstanding warrants at a price of $0.10 per common share for gross proceeds of $1,125,000. This represents the successful conclusion of the total 22,500,000 warrants to be exercised early under the Warrant Exercise Agreement with Sino Minerals Corp. (Sino) dated March 30th, 2010. The warrants were issued as part of the Company's non-brokered private placement with Sino on January 28th, 2010. 

"Sino's completion of the early warrant exercise agreement, in its entirety, is an important further demonstration of Sino's dedication and commitment to our Corporation. Rarely in my career have I encountered such a genuine relationship. I see this as yet another positive endorsement from Sino Minerals on the potential for the Corporations Coxheath Property. The expertise brought to bear by Sino Minerals/Beijing Donia Resources in our assessment of new acquisition targets will be of tremendous benefit " reports Harry Cabrita, President & CEO.

Dr. Jingbin Wang states , "I am very pleased to see Silvore Fox's recent steady developments and the closer relationships among Sino Minerals , Beijing Donia Resources and Silvore fox. I hope that Sino/Donia and Silvore Fox will bring their cooperation in technology to the next level, help Silvore Fox enhance its value, and make the companies shareholders feel the positive results of this continued cooperation."

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 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.

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.

Contact Information