SFX Sphinx Resources Ltd

Silvore Fox Minerals Corp. (the "Corporation") (TSX VENTURE:SFX) is pleased to
announce that, further to its news releases of May 22, 2012, and July 3, 2012,
it has now closed the final tranche of its non-brokered private placement
financing in the amount of $401,500, subject to the final acceptance by the TSX
Venture Exchange. Upon closing of this final tranche the Corporation has issued
4,461,111 units ("Units") at a price of $0.09 per Unit. Each Unit consists of
one common share and one-half of one common share purchase warrant. Each whole
Warrant entitles the holder to purchase, until June 28, 2014, an additional
common share of the Corporation at a price of $0.12 per share prior to June 29,
2013, and at a price of $0.15 per share from June 29, 2013 until June 28, 2014.
All common shares, Warrants, and common shares issuable upon the exercise of the
Warrants are restricted from trading until November 21, 2012. 


A smaller second tranche was previously closed on July 6, 2012 in the amount of
$50,000. The Corporation issued 555,556 Units upon closing of that tranche and
all common shares, Warrants, and common shares issuable upon the exercise of the
Warrants for that tranche are restricted from trading until November 7, 2012.
Warrant expirations remain the same for all tranches.


The proceeds of the sale of these Units will be used to fund work programs in
Chile and Canada and to provide general working capital. In total the
Corporation raised just over $1.9 million through this offering and issued
21,127,778 Units.


The Corporation incurred no finder's fees in the placing of these units.

Harold Cabrita, President and CEO

This announcement contains forward-looking information and forward-looking
statements (collectively "forward-looking information") under applicable
securities laws, relating, but not limited to the Corporation's expectations,
intensions, plans and beliefs. Forward-looking information can often be
identified by forward-looking words such as 'anticipate', 'believe', 'expect',
'goal', 'plan', 'intend', 'estimate', 'may' and 'will' or similar words
suggesting future outcomes or other expectations including future operations and
relations to work programs in Chile and Canada. Such forward-looking information
is based on current expectations that involve a number of known and unknown
risks and uncertainties that may cause actual results to differ materially from
those expressed or implied by the forward-looking information. Factors that
could cause actual results to differ materially from any forward-looking
information include, but are not limited to, capital and operating costs varying
significantly from estimates, delays in obtaining or failures to obtain required
governmental, environmental or other project approvals, inflation, delays in the
development of projects, uncertainties relating to the interpretation of the
geology, and unanticipated operational or technical difficulties and other
factors. Such forward-looking information is based on a number of assumptions,
including but not limited to, the availability of skilled labour, availability
of equipment, and future capital and operating costs. Should one or more risks
and uncertainties materialize or should any assumptions prove incorrect, then
actual results could vary materially from those expressed or implied in the
forward-looking information and accordingly, readers are cautioned not to place
undue reliance on this forward-looking information. The Corporation does not
assume the obligation to revise or update this forward-looking information after
the date of this announcement or to revise such information to reflect the
occurrence of future unanticipated events, except as may be required under
applicable securities laws.

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