Silvore Fox Minerals Corp.

Silvore Fox Minerals Corp.

March 02, 2009 09:59 ET

Silvore Fox Minerals Corp.: Announces Purchase of Net Smelter Royalty Percentage

HALIFAX, NOVA SCOTIA--(Marketwire - March 2, 2009) - Silvore Fox Minerals Corp. (the "Corporation") (TSX VENTURE:SFX) is pleased to announce that the Corporation has purchased from Burnt Point Resources, Inc. (BPR) a 1% (being one-third of 3%) net smelter royalty (NSR) on the Silvore Fox Claims, located at Coxheath, Cape Breton, Nova Scotia held by BPR pursuant to an Option and Joint Venture Operating Agreement dated July 19, 2006 and amended April 3, 2007 and December 11, 2007, between Coxheath Resources Ltd and Burnt Point Resources, Inc. for a purchase price of $400,000.00. The previously agreed purchase price for the 1% NSR was $1,000,000.00.

About Silvore Fox Minerals Corp.

Silvore Fox Minerals Corp. 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'). The Corporation 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.

Silvore Fox Minerals further recent acquisition agreement of the 'Oceanview' property, strengthens SFX's position as a regional mineral exploration company. It is a complimentary prospect to the multi-element Coxheath deposit.

Please visit our website; www.silvorefox.com for further details.

Contact Information

  • Silvore Fox Minerals Corp.
    Harry Cabrita
    President & CEO
    902-832-1060
    902-422-9208 (FAX)
    or
    Silvore Fox Minerals Corp.
    Fred Bonner
    Vice-President of Exploration
    902-832-1060
    902-422-9208 (FAX)
    info@silvorefox.com