March 30, 2010 SILVORE FOX MINERALS CORP. ANNOUNCES EARLY EXERCISE OF WARRANTS
Halifax, Nova Scotia -- Silvore Fox Minerals Corp. (TSXV: SFX) (the "Corporation") announces that Sino Minerals Corp. has executed a Warrant Exercise Agreement to exercise all of its 22,500,000 warrants this year in two tranches, half on or before July 12th, 2010 and the balance on or before November 30th, 2010. Gross proceeds of the exercise of the warrants will be $2,250,000.
Mr. Harry Cabrita, President and CEO SFX states, "We are extremely pleased with the confidence Sino has demonstrated in our management team and properties with this decision to exercise their warrants early. This will allow the company to significantly accelerate its exploration activities on our flagship Coxheath Deposit this year and enable our company to look at additional resource property acquisitions. I am very confident in the abilities of our newly assembled team and I am impressed with the level of determination, focus and desire exhibited to develop our corporation and properties."
Dr. Jingbin Wang, Chairman of Sino Minerals Corp. states, "We have full confidence in Silvore Fox's management team and look forward to new developments in exploration on the Coxheath Property. We will provide technical and financial support to Silvore Fox and maintain a long -- term, strategic cooperation. We look forward to improving the Corporation's value through advancements on existing properties and acquisitions of new resources."
About Silvore Fox Minerals Corp.
Silvore Fox Minerals Corp. ("SFX") is a Bedford, Nova Scotia, Canada based public mineral exploration company with 100% mineral rights to the claims at Coxheath, Cape Breton Island, Nova Scotia (known as the 'Coxheath Deposit'). SFX 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. SFX's further recent option and joint venture agreements for the 'Oceanview', 'Nictaux' and 'Shortliff' properties, strengthens SFX's position as a regional mineral exploration company.
Forward-Looking Statements
This news release contains forward-looking statements which relate to the exercise of the warrants. These forward-looking statements are subject to the risk that the warrants are not exercised in the manner described. Readers are cautioned not to place undue reliance on forward-looking statements.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (as that term is defined in the Policies of the TSX Venture Exchange) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
You can view the Next News Releases item: Thu Apr 29, 2010, SILVORE FOX MINERALS CORP. Announces the Engagement of an Investor Relations Consultant
You can view the Previous News Releases item: Mon Mar 29, 2010, Update on limited Diamond Drill Program to fulfill 2009 flow through commitments at Coxheath Property, Nova Scotia and earn-in commitment at Oceanview Property, Nova Scotia
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