Monday, November 09, 2009

Mining Stock news - Silvore Fox Minerals Corp. (TSX .V:SFX)Announces Amendment to the Proposed $1,350,000 Private Placement to China Nonferrous Metals

Mining Stock news - Silvore Fox Minerals Corp. (TSX .V:SFX)Announces Amendment to the Proposed $1,350,000 Private Placement to China Nonferrous Metals Exploration Corp.

HALIFAX, NOVA SCOTIA--\(Marketwire - Nov. 9, 2009 - Silvore Fox Minerals Corp. (TSX .V:SFX) announces further to its news release issued September 29, 2009 that the terms of the proposed non-brokered private placement with China Nonferrous Metals Exploration Corp. ("CNME") have been amended. The proposed private placement will be a unit offering, whereby CNME will purchase 33,750,000 Units of SFX at a price of $0.04 per Unit, each Unit to consist of one common share and two-thirds of one common share purchase warrant, with each whole warrant exercisable into one common share at a price of $0.10 per share, with an expiry date of two years from the closing. It is anticipated that a formal agreement and closing will be completed on or before December 18, 2009.

About China Nonferrous Metals Exploration Corp.

CNME is a Canadian corporation majority-owned by Chinese shareholders, including Beijing Donia Resources Co ("Donia"), a state owned entity whose mandate includes exploring for base metal resources worldwide. The Chairman of Donia, Dr. Jingbin Wang, also serves as Executive Director of the China Nonferrous Metals Resource Geological Survey, President of the Beijing Institute of Geology of Mineral Resources, President of Sinotex Mineral Exploration Co, Vice- President of the China Nonferrous Metals Industry Association and Assistant Director of the China Geology Association. Donia's General Manager, Mr. Side Wang, also serves as Vice-Director of the Mineral Resources Management Committee of the China Mining Association.

CNME seeks to invest in mineral exploration and development opportunities in Canada. Its principal office is located at 7-145 Riviera Drive, Markham, Ontario, L3R 5J6. For further information, please contact Helen Gao at (905) 968-1197 (905) 968-1197.

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 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

Certain information regarding Silvore Fox Minerals Corp. (SFX) contained herein may be deemed forward looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although SFX believes that the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. SFX cautions that actual performance will be affected by a number of factors, most of which are beyond its control, and that future events and results may vary substantially from what SFX currently foresees.

Factors that could cause actual results to differ materially from those in forward-looking statements could include exploitation and exploration results, continued availability of capital and financing and general economic, market or business conditions. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and subject to change after that date.


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