SFX Sphinx Resources Ltd

Silvore Fox Minerals Corp. (the "Corporation")(TSX VENTURE:SFX) is pleased to
announce that it proposes to offer to investors, by way of a non-brokered
private placement (the "Private Placement"), up to 22,222,222 units ("Units") at
a price of $0.09 per Unit for gross proceeds of $2,000,000. Each Unit will
consist of one common share and one-half of one common share purchase warrant
(each whole common share purchase warrant a "Warrant"), whereby each Warrant
will entitle the holder to purchase an additional common share of the
Corporation (the "Warrant Share") at a price of $0.12 per share during the 12
months from the date of issuance of the Warrant and at a price of $0.15 per
share during the second 12 months. 


The proceeds of the Private Placement will be used to fund the acquisition cost
of the two Chilean properties, Totoral and Harvest which will be purchased from
Sinotech Mineral Exploration Chile Limitada ("Sinotech Chile") by Golden Fox
Resources SpA and Golden Eagle Resources SpA, the indirectly wholly-owned
subsidiaries of the Corporation. (as announced on January 9, 2012), with the
balance used to fund work programs in Chile and Canada and provide general
working capital.


Sinotech Chile is a subsidiary of Sinotech Mineral Exploration Co. Ltd of China
which is the parent company of Beijing Donia Resources Co. Ltd., the largest
single shareholder of Silvore Fox with approximately 30% of the outstanding
shares of the Corporation.


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


About Silvore Fox Minerals Corp.

Silvore Fox Minerals Corp. ("Silvore Fox") is a Canadian public mineral
exploration company based in Toronto. We are focused on developing the base and
precious metal exploration projects within our diversified portfolio of
properties.


Harry Cabrita, President and CEO

Dr. Jingbin Wang, Chairman

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.


This press release contains forward-looking information within the meaning of
applicable securities laws. Such information includes, without limitation,
information regarding the closing of the proposed private placement and the
anticipated use of proceeds of the private placement. Although the Corporation
believes that such information is reasonable, it can give no assurance that such
expectations will prove to be correct. Forward-looking information is typically
identified by words such as " believe", "expect", anticipate", "intend",
"estimate" and similar expressions, or are those, which, by their nature, refer
to future events. The Corporation cautions investors that any forward-looking
information provided by the Corporation are not guarantees of future results or
performance, and that actual results may differ materially from those in
forward-looking information as a result of various factors, including, but not
limited to, the state of the financial markets for the Corporation's equity
securities; the state of the market for minerals that may be produced; recent
market volatility; variations in the nature, quality and quantity of mineral
deposits that may be located; the Corporation's ability to obtain any necessary
permits, consents or authorizations required for its activities; the
Corporation's ability to raise the necessary capital or to be fully able to
implement its business strategies; and other risks associated with the
exploration and development of mineral properties.

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