Soho Resources Corp.

Soho Resources Corp.

April 18, 2007 15:11 ET

Soho Closes Brokered and Non-Brokered Private Placements

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 18, 2007) -


Soho Resources Corp. (TSX VENTURE:SOH) is pleased to announce that it has closed two separate private placement financings for collective gross proceeds of $12.2 million.

A brokered private placement financing led by Cormark Securities Inc. and including Westwind Partners Inc. (the "Agents") was initially announced on March 23, 2007. This fully subscribed financing generated gross proceeds of $10.8 million from the sale of 21.6 million units priced at $0.50 per unit. Each unit consisted of one common share and one-half of one transferable common share purchase warrant, with each whole warrant being exercisable for one additional common share at a price of $0.70 per common share until April 17, 2009.

As compensation, the Agents received a 6% cash commission and 1,296,000 broker warrants (equal to 6% of the units sold under this private placement). Each non-transferable broker warrant entitles the Agents to purchase one broker unit at a price of $0.50 until April 17, 2009. Each broker unit consists of one common share and one-half of one non-transferable common share purchase warrant. Each whole warrant underlying the broker unit entitles the Agents to acquire one additional common share at a price of $0.70 per common share until April 17, 2009.

The Company also closed a non-brokered private placement with Macquarie North America Ltd., initially announced on April 13, 2007, which enables Macquarie to maintain its current 9.9% interest in Soho Resources. This financing generated gross proceeds of $1.4 million from the sale of 2.8 million units, having the same terms and conditions as the units issued under the aforementioned brokered private placement.

All securities issued pursuant to the brokered and non-brokered private placements are subject to a four-month hold period expiring August 18, 2007.

Soho Resources will use the net proceeds of these financings to advance its mineral properties in Mexico, and for general working capital purposes. The Company is conducting a resource definition drilling program at its Tahuehueto project in northern Durango State, Mexico. This 8,894-hectare project covers at least 12 polymetallic epithermal zones and has geological similarities to epithermal deposits being exploited in nearby mining districts (such as La Cienega and Topia).

Soho has drilled more than 130 holes totaling 22,500 metres as part of its ongoing $3.6 million program to define resources within several priority zones at Tahuehueto. Exploration programs have also revealed new targets, including the Texcalama vein extension and a stockwork zone between the advanced El Rey and El Creston Zones.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

Shares Issued - 99,441,913

Last Close 2007/04/17 C$.68

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

Contact Information