Silvore Fox Minerals Corp. Announces Amendment to the Proposed $1,350,000 Private Placement to China Nonferrous Metals

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Mon Nov 9, 2009 5:23pm EST

  HALIFAX, NOVA SCOTIA, Nov 09 (MARKET WIRE) -- 
Silvore Fox Minerals Corp. (the "Corporation")(TSX VENTURE: 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.

    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.

    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.

Contacts:
Harry Cabrita, President & CEO
902-832-1060
902-422-9208 (FAX)

Fred Bonner, Vice-President of Exploration
902-832-1060
902-422-9208 (FAX)
info@silvorefox.com
www.silvorefox.com

Copyright 2009, Market Wire, All rights reserved.

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