Soho Resources Corp.

Soho Resources Corp.

March 23, 2007 09:51 ET

Soho Resources Corp. Announces Up to $ 8 Million Private Placement

TORONTO, ONTARIO--(CCNMatthews - March 23, 2007) -


Mr. Frank Port reports,

SOHO RESOURCES CORP. (TSX VENTURE:SOH) is pleased to announce that it has entered into an agreement with a syndicate of Agents led by Sprott Securities Inc. and including Westwind Partners Inc (the "Agents") pursuant to which the Agents are appointed as exclusive agents to raise up to $ 8 Million in units on a best efforts basis. Each Unit shall be comprised of one common share in the capital of the Company (a "Common Share") and one-half of one Common Share purchase warrant (each whole Common Share purchase warrant, a "Warrant"). Each Warrant will entitle the holder thereof to purchase one Common Share (a "Warrant Share") for a period of two years following the closing date (currently scheduled for April 11th, 2007) at a 40% premium to the Offering Price per Warrant share.

The net proceeds of the Offering will be used to fund further exploration and development of the Company's exploration properties in Mexico and for general corporate purposes.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an application exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

Exploration programs to date at Soho Resources Corp's Tahuehueto Project have confirmed the presence of at least 12 mineralized zones within a structurally controlled epithermal system traced over 6 km. A drilling program is under way to define resources at five priority zones, along with exploration programs to test other zones and targets at the 8,894 hectare Tahuehueto Project.

Shares Issued - 74,841,913

Last Close 2007/02/22 C$.50

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

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