Silvore Fox Minerals Corp.

Silvore Fox Minerals Corp.

September 22, 2011 09:12 ET

Silvore Fox to Start Drilling Program at Coxheath

TORONTO, ONTARIO--(Marketwire - Sept. 22, 2011) - Silvore Fox Minerals Corp. (the "Corporation" or "Silvore Fox") (TSX VENTURE:SFX) is pleased to announce the start of the first phase of a planned diamond drill program at its 100% owned Coxheath claims.

Silvore Fox has developed a new working theory about the Coxheath property after an extensive review and reinterpretation of all available data, including previous drilling, airborne survey, trenching, re-mapping of mineralized zones and the recently completed ground geophysical program. This new working theory has provided the Corporation with drill targets to identify the potential for a buried porphyry system. The proposed drilling targets are in an entirely new area, which has never been drilled before. The Corporation is moving ahead quickly to validate this concept by drilling.

Logan Drilling Ltd. has been contracted to drill a minimum 2,000 metres (NQ wireline) of diamond drill core. The drill program is planned to begin immediately and the drill rig has been mobilized.

Management Comments

"The results from our recent ground IP work have been very encouraging and support the working theory proposed by the geological team of Beijing Donia. This drill program will provide us with the hard evidence we need to make the best decisions possible on the next phase of the work plan."

  • Mr. Harold Cabrita, President and CEO

Ian Chisholm, PEng, a qualified person as defined by National Instrument 43-101, has reviewed and approved the technical information contained in this news release.

SFX Announces Grant of Options

The Corporation also announces that it has granted to the directors, employees, and consultants of the Corporation options to acquire an aggregate total of 4,300,000 Common Shares of the Corporation at an exercise price of 12.5 cents per Common Share, which options will expire September 20, 2016.

About Silvore Fox Minerals Corp.

Silvore Fox Minerals Corp. is a Toronto, Ontario, Canada based public mineral exploration company. We are focused on high tonne potential base and precious metal exploration projects within a diversified portfolio of properties that attempts to minimize political risk without limiting potential returns for our shareholders.

On November 17th, 2010, Silvore Fox entered into a Strategic Agreement with Beijing Donia Resources Co. Ltd ("Donia") at the China International Mining Conference, 2010. Donia is the single largest shareholder of Silvore Fox currently holding approximately 30% of the Corporation's outstanding shares. This strategic partnership provides the Corporation with a strong platform for growth through mineral exploration expertise, funding and strategic acquisitions. SFX has an experienced management and geological team.

Harry Cabrita
President and CEO

Dr. Jingbin Wang

This press release contains "forward-looking information" within the meaning of applicable securities laws relating to the intention of the Corporation to begin exploration activities on the properties being discussed. Readers are cautioned not to place undue reliance on the forward-looking information. Actual results and developments may differ materially from those contemplated by this forward-looking information depending on, among other things, the risks of funding by the Corporation of the exploration and development on the properties. Such forward-looking information is based on current expectations that involve a number of known and unknown risks and uncertainties that may cause actual results to differ materially from those expressed or implied by the forward-looking information. Factors that could cause actual results to differ materially from any forward-looking information include, but are not limited to, the risks of capital and operating costs varying significantly from estimates, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, inflation, delays in the development of projects, uncertainties relating to the interpretation of the geology, and unanticipated operational or technical difficulties and other factors. Such forward-looking information is based on a number of assumptions, including but not limited to, the availability of skilled labour, availability of equipment, and future capital and operating costs. Should one or more risks and uncertainties materialize or should any assumptions prove incorrect, then actual results could vary materially from those expressed or implied in the forward-looking information and accordingly, readers are cautioned not to place undue reliance on this forward-looking information. The Corporation does not assume the obligation to revise or update this forward-looking information after the date of this announcement or to revise such information to reflect the occurrence of future unanticipated events, except as may be required under applicable securities laws.


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