Soho Resources Corp.
TSX VENTURE : SOH

Soho Resources Corp.

June 18, 2008 16:37 ET

Soho Resources Receives Initial NI 43-101 Inferred Mineral Resources Estimate Report for the Tahuehueto Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 18, 2008) - Soho Resources Corp. (TSX VENTURE:SOH) ("Soho" or the "Company") is very pleased to announce the SEDAR filing of its first NI 43-101 compliant technical report for its Tahuehueto Project in Durango State, Mexico ("Tahuehueto"), titled "Technical Report Tahuehueto Project Durango, Mexico" (the "Technical Report"). The initial resource estimation and the Technical Report were prepared by Michael M. Gustin, P.Geo., of Mine Development Associates of Reno, Nevada ("MDA"). Mine Development Associates is a full-service mining engineering firm, specializing in all aspects of exploration, mine development, and mine operations.

This calculated resource represents only the upper, close to surface portion of three structures; the El Creston structure over approximately 670 m of strike length; the Cinco de Mayo - Santiago structure known to be at least 3 km long and drill tested over approximately 2.5 km of strike length; and the El Rey structure tested over approximately 250 meters of strike length. The full report can be viewed on the SEDAR website at www.sedar.com or on Soho's corporate website at http://www.sohoresources.ca/.

Highlights

- 383,000 oz gold equivalent (calculated using only gold oz + Silver oz/60, assuming 100% Au & Ag recoveries (excluding base metal content)

-- 276,000 ounces of gold

-- 6.429 million ounces of silver

- 201.138 million pounds of zinc

- 33.483 million pounds of copper

- 110.457 million pounds of lead

The Tahuehueto deposit inferred mineral resource, at a series of cutoff grades (2% to 10%) is provided in the table below.



Tahuehueto Inferred Resources
----------------------------------------------------------
Cutoff
(g Au-equiv/t)
-------------
Unoxi- Oxi- g g
dized dized Tonnes Au/t oz Au Ag/t oz Ag
----------------------------------------------------------
2.0 3.0 6,402,000 1.34 276,000 31 6,429,000
2.5 3.0 4,985,000 1.62 259,000 36 5,781,000
3.0 3.0 4,101,000 1.86 245,000 40 5,277,000
4.0 4.0 2,722,000 2.44 213,000 49 4,280,000
5.0 5.0 1,907,000 3.03 186,000 58 3,542,000
7.0 7.0 1,047,000 4.31 145,000 74 2,488,000
10.0 10.0 508,000 6.62 108,000 92 1,499,000
----------------------------------------------------------

Tahuehueto Inferred Resources
---------------------------------------------------------------------------
Cutoff
(g Au-equiv/t)
-------------
Unoxi- Oxi-
dized dized Tonnes Cu% lbs. Cu Pb% lbs. Pb Zn% lbs. Zn
---------------------------------------------------------------------------
2.0 3.0 6,402,000 0.24 33,483,000 0.78 110,457,000 1.43 201,138,000
2.5 3.0 4,985,000 0.27 29,238,000 0.90 98,759,000 1.61 176,592,000
3.0 3.0 4,101,000 0.29 25,960,000 0.99 89,854,000 1.75 158,444,000
4.0 4.0 2,722,000 0.34 20,110,000 1.18 70,945,000 2.09 125,481,000
5.0 5.0 1,907,000 0.38 15,974,000 1.32 55,589,000 2.42 101,716,000
7.0 7.0 1,047,000 0.48 11,062,000 1.52 35,082,000 2.96 68,303,000
10.0 10.0 508,000 0.61 6,839,000 1.68 18,848,000 3.37 37,702,000
---------------------------------------------------------------------------

NOTES: 1. The cutoff for oxidized resources is higher than un-oxidized
resources due to anticipated lower metal recoveries in the
flotation process.
2. Gold-equivalent grades are used for cutoff purposes only.
3. Gold equivalent calculation: g Au-equiv/t equals Au grade + (Ag
grade divided by 60) + (Cu grade divided by 0.35) + (Pb grade
divided by 1.0938) + (Zn divided by 0.875).


The Tahuehueto mineral resources were modeled and estimated by: (1) evaluating the drill data statistically; (2) interpreting mineral domains for each element independently on vertical cross sections spaced at intervals of 25 or 50 meters across the strike length of the mineralization; (3) coding the block model by projecting the mineral domain interpretations horizontally half the distance to adjacent sections; (4) analyzing the modeled mineralization statistically to establish estimation parameters; (5) capping high grade domain assays at Au cap equals 60 g Au/t, Ag cap equals 370 g Ag/t, Cu cap equals no cap, Pb cap equals no cap, Zn cap equals 20%; and (6) estimating metal grades into the coded three-dimensional block model by inverse-distance methods using approximately 4,700 sample intervals with 2 meter composites from a total of 165 drill holes (129 core and 36 reverse circulation holes). All modeling of the Tahuehueto resources was performed using Surpac® software.

The Report recommends that significant work at Tahuehueto is warranted, including infill, step-out, and exploration drilling. Project Resources should be updated periodically as exploration continues.

PROJECT DRILLING UPDATE

Since the cutoff of data submitted to MDA for the initial resource calculation, Soho has completed another 58 diamond drill holes. The results from these holes along with any data from ongoing 2008 drilling will be integrated into an updated resource calculation expected near the end of this year.

The 2008 exploration program has made excellent progress and has significantly advanced the project during the first half of 2008. As a result the planned drilling for this year is well ahead of schedule and has allowed the Company to reduce the number of operating drill rigs at the project and thereby reduce exploration expenditures at an opportune time within the industry. There is currently one drill rig operating on site.

GENOA MANAGEMENT LIMITED AGREEMENT CANCELLED

Soho would also like to announce that it has mutually cancelled its agreement with Genoa Management Limited and John Walter Communications Inc. (the "Genoa Agreement") originally announced in August 2007 (See August 29, 2007 news release).

The services under this agreement were suspended temporarily on December 31, 2007 on the understanding that services would be reinstated for the remaining eight months of the term upon publication of the Company's Resources Calculation. Upon issuance of the Company's Resource Calculation the parties renegotiated this agreement such that Genoa Management Limited withdrew and Soho has signed a new revised agreement (the "Walter Agreement") with John Walter Communications Inc. ("JWCI"). All stock option issued under the Genoa Agreement have been cancelled with mutual consent.

JWCI is an independent consulting firm dedicated to assisting junior and intermediate mining companies grow to their full potential. Its mandate will be to provide senior management with ongoing capital markets counsel. John Walter, the Founder and President of the company has worked in engineering departments for a number of Canadian iron ore producers assisting in all aspects of the mining cycle, from exploration, development and production. Mr. Walter has also worked at numerous international mining locations supervising the construction of large scale open pit mining equipment and providing training to the personnel responsible for the operation and maintenance of the equipment. More recently, Mr. Walter spent more than two decades in institutional equity sales, including seventeen years at UBS, one of the world's leading financial firms and its predecessor companies, providing coverage to institutional clients in North America, the Middle East, Asia and Australia. Mr. Walter graduated from Queen's University in Kingston, Ontario in 1979 with a Bachelor of Applied Science, Mining Engineering.

Under the terms of the one year Walter Agreement, JWCI will execute a comprehensive communications program to support the Company's growth strategy, for which it will be paid a fixed monthly fee of Cdn$6,500 plus applicable taxes, and be granted 200,000 options to purchase common shares of Soho. The options will be exercisable at $0.25 per share over a 2 year term and vest in four equal tranches, quarterly. In addition to the fees above, Soho agrees to pay JWCI a 2% fee for any successful acquisition sourced by JWCI and executed by Soho. The agreement may be cancelled anytime after the initial first three months.

Glen Sandwell, Manager, Investor Relations

WARNING: The Company relies upon litigation protection for "forward-looking" statements. This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of up-coming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Soho Resources Corp. relies upon litigation protection for forward-looking statements.

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