SFX Sphinx Resources Ltd

Silvore Fox Minerals Corp. (the "Corporation" or "Silvore Fox")(TSX VENTURE:SFX)
announces the first assay results from due diligence drilling in Chile. 


As part of its due diligence process before finalizing the purchase from
Sinotech Mineral Exploration Chile Limitada ("Sinotech)"of the 100% interest in
two Gold with Copper exploration properties in Chile, Silvore Fox has continued
the programs initiated by Sinotech and performed the following geological work
on the two properties:


Totora Property: 

A test drill program was designed to test targets within two prominent vein
systems in a shear structure traceable for approximately five kilometers. These
were identified by mapping and geophysical work carried out earlier by Sinotech.
The June magnetic survey covering a large portion of the mapped vein systems
suggests the presence of buried extensions of the quartz diorite intrusive at
shallow depths below the prominent shear structures. The margins of the
intrusions appear to be controlled by faulting. Two IP profiles across the area
suggested five target anomalies of which 4 coincide with known veins. On surface
these vary from 2 to 50 meters in width around some of the old surface workings.



Silvore Fox has completed one drill hole testing one of these structures and has
received encouraging assay results with highlights as follows: 


The hole intersected two veins. One from 65.35 to 66.75m graded 1.3 g/t gold and
1.49% copper over the 1.4m. 


The second zone, of 9.4 meters from 147.4m to 156.8m, graded 0.84 g/t gold and
0.35% copper and represents three distinct mineralized portions including narrow
waste bands. The higher grade central core of this vein system from 150.4m to
153.25m graded 2.28g/t gold and 0.90% copper over 2.85 meters. Values within the
mineralized portions ranged from 0.11 to 4.73g/t gold and 0.07 to 2.16% copper.


The true thickness of the above material is not as yet determined and the
minimum sample size was 1meter.


Sample preparation and assaying was carried out by the accredited Santiago based
branch of Acme Analytical Labs. 


Harvest Property: 

The pole-dipole IP coverage along lines spaced at 200 meters over a 3600m by
120m grid is completed. This covers target areas within the gold and copper vein
systems earlier outlined through mapping and ground magnetics by Sinotech.
Interpretation of the results is in progress and to date has determined three
drill targets.


Roscoe Postle and Associates of Toronto have been retained Silvore Fox to
prepare a NI43-101 report on the two properties and to assess the valuation
being used in the acquisition transaction.


Management Comments 

"To the best our knowledge, this was the first hole ever drilled on the Totora
Property. The drill location is in the north part of a possible five kilometers
long alteration zone. We expected to hit gold and copper and we did. Further
drilling is designed and planned to delineate the grade, vertical and lateral
extent of the veins and other prime target areas on both the Totora and Harvest
properties.


An additional permit was required to continue the drilling program on the Totora
Property and we expect to receive this in due course. Additionally we wish to
form agreements with surface owners for continued access and road construction
arrangements. We will make an announcement about the start up of further
drilling upon the completion of the above."


- Mr. Harold Cabrita, President and CEO

Ian Chisholm, PEng, a qualified person as defined by National Instrument 43-101,
has reviewed and approved the technical information contained in this news
release.


About Silvore Fox Minerals Corp. 

Silvore Fox Minerals Corp. is a Canadian public mineral exploration company
based in Toronto. We are focused on both base and precious metal exploration
projects within a diversified portfolio of properties that attempts to minimize
political risk without limiting potential returns for our shareholders. 


Harry Cabrita, President and CEO

This press release contains "forward-looking information" within the meaning of
applicable securities laws relating to the intention of the Corporation to sign
a formal option agreement for the two properties in Chile and begin exploration
activities on the properties being discussed. 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 depending on, among other things, the risks of
funding by the Corporation of the exploration and development on the properties.
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 finalizing a deal on the Chile 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.

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