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Silvore Fox Minerals Corp.: Silvore Fox Minerals Corp. Announces Non-Brokered Private Placement of Units

^{Published on 2009-09-08 14:08:21 - Market Wire}
 

HALIFAX, NOVA SCOTIA--(Marketwire - Sept. 8, 2009) - Silvore Fox Minerals Corp. (the "Corporation") (TSX VENTURE:SFX) is pleased to announce that it proposes to offer, by way of a non-brokered private placement (the "Private Placement") of up to 10,000,000 units ("Units") at a price of $0.04 per Unit for gross proceeds of $400,000. Each Unit will consists of one common share and one common share purchase warrant (a "Warrant"), each Warrant entitling the holder to purchase one common share of the Corporation on a flow-through basis under the Income Tax Act (Canada) (the "Warrant Flow-Through Share") at a price of $0.06 per Warrant Flow-Through Share at any time until 4:30 p.m. (Halifax time) on September 30, 2010. A finder's fee of 10% of the gross proceeds of the Private Placement may be paid.

The net proceeds of the Private Placement will be used for carrying out exploration activities on the Corporation's mineral properties located in Atlantic Canada and general corporate purposes.

The Private Placement is conditional upon receipt of approval by the TSX Venture Exchange.

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.

Neither the TSX Venture Exchange nor its regulation services provided (as that term is defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.