Silvore Fox Terminates Chile Acquisition, Comments on Beijing Donia Drilling at Coxheath

After many months of extensive negotiations and legal reviews Silvore Fox
Minerals Corp. (the "Corporation" or "Silvore Fox") (TSX VENTURE:SFX) and its
Chilean subsidiary have determined that it is no longer in the best interests of
their shareholders to close the acquisition of the two Chile properties known as
Totoral and Harvest that were originally announced January 9, 2012. 


SFX management believes that the financial and other commitments being requested
by the local Chilean community simply do not reflect the realities of the global
mining and exploration marketplace today and that the Corporation's resources
would be better applied to other projects. As a result SFX and Sinotech Minerals
Exploration Chile Limitada (the "Sinotech Chile"),an affiliate of the
Corporation's largest individual shareholder, Beijing Donia Resources Co. Ltd.
(the "Beijing Donia"), have agreed to terminate the acquisition agreement and
Sinotech Chile would return the purchase deposit of approximately one million
dollars to SFX. 


The offshore corporations SFX had registered in the British Virgin Islands to
facilitate these transactions will also be closed as a result of this decision.


Silvore Fox management has been evaluating several strategic alternatives in
order to re-position the company for 2013 and establish a clear direction for
the creation of shareholder value.


SFX wants to thank its shareholders for their loyalty and trust during this
difficult period for junior exploration companies. Management has been working
diligently to preserve cash while remaining open to potential opportunities that
tend to present themselves during times like these. We hope to have
announcements in the coming months that demonstrate the results of these efforts
to our shareholders and ultimately improve shareholder value.


Donia Drill Program at Coxheath

Beijing Donia has recently completed ground work for their research study at the
Coxheath Property in Cape Breton Island, N.S. Based on the 2012 Induced
Polarization (IP) survey and the IP targets they generated, Beijing Donia
drilled four drill holes totalling 1259m to test their model and gather hard
evidence about downhole rock conditions. It was Donia's intent to re-evaluate
past theories and geo-science studies on the property using the results of this
drill program. 


Logging of the 4 drill holes by a Donia geologist revealed marginal
mineralization, but they will follow through with sampling the intercepts and
sending them to a lab for analysis. If the results reveal material amounts of
mineralization present, then SFX will issue an update at that time.


Ms. Elizabeth Vida, P.Geo., Exploration Manager at Silvore Fox Minerals Corp. is
a qualified person as defined by National Instrument 43-101, and directly
supervised all aspects of the drill program and has approved the technical
aspects of this press release.


Dr. Wenshan Zhang

Chairman, President and CEO

This press release contains "forward-looking information" within the meaning of
applicable securities laws relating to the intentions of the Corporation.
Readers are cautioned not to place undue reliance on the forward-looking
information. Actual results and developments may differ materially from those
contemplated by this forward-looking information. 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, the risks of
closing a deal on exploration properties, the risk of 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
SFX Investor Relations
(905) 968-1154
ir@silvorefox.com
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