Silvore Fox Minerals Corp. (the “Corporation” or “Silvore Fox”– TSX Venture – “SFX”) is pleased to update shareholders on the status of its Winston Lake and Coxheath projects and provide other corporate updates.

Winston Lake, Ontario (high grade Zinc property, 100% owned, no NSR)

Silvore Fox is pleased to announce that they have received the results of the Geotech Ltd VTEM survey over their 9,600 ha claim holdings in the Winston - Pick Lake area north of Schreiber in Northern Ontario.

The 1,061 line kilometer helicopter survey covered the area for the most part at 100 meter line spacing recording both VTEM and magnetic response. Several VTEM anomalies were encountered, some of which had not been indicated by past surveys.

Silvore Fox is presently compiling this new data with pertinent historical geological data and is currently evaluating and prioritizing a number of quality drill targets that have been identified for follow-up geophysical work and diamond drilling in 2012.

Mr. Ian Chisholm, PEng, was engaged by the Corporation to be the lead consultant on this project.

Coxheath, Nova Scotia (Copper Porphyry system, 100% owned)

Extensive airborne and ground geophysical work, mapping and trenching has been performed on the surface mineralization on this property in the past. The latest geophysics and trenching program in the second half of 2011 had suggested the presence of a possible buried intrusive (porphyry- type system) source for outcropping vein mineralization found at the old mine site.

Three targeted drill holes totaling 1,353 meters have been completed to test this possibility. The holes tested an area east of the Mountain Zone and south of the Central Zone outcropping Copper-Moly vein systems where the IP survey had indicated a broad anomaly at depth with relatively high chargeability extending over 600m of strike and suggested thickness varying from 150 to 300m.

No significant shallow mineralization was intersected and part of the anomaly appears to represent the contact between volcanics and the local intrusives. Two of the three holes intersected narrow blind mineralized veins with copper cutting the volcanics. Drill Hole SF11-01 intersected 1.6 meters grading 0.43% Copper at 556 to 557.6m and hole SF11-02 intersected two veins, one grading 0.097% Copper and 0.01% Moly over 1.0 meter at 309 to 310m and the other grading 0.202% Copper and 0.028% Moly at 319 to 321m. We are compiling the new drill information with the geophysical results to assist in determining the next step of our Coxheath exploration plan.

Management Comments

"The Winston Lake property has justified our initial enthusiasm for the project as a number of strong conductors were discovered on our claims. The VTEM survey provided precise targets, several of which are considered drill-ready by our geological team. These results have confirmed that there is potential for discovery of an ore body of similar size and grade to the Winston and Pick Lake mines of the 1990's on our claims.

At Coxheath drill results in the new target area continued to show mineralization similar to that we have seen across the entire Coxheath claims area. The ground truth provided by these drill results has assisted our team in developing a stronger understanding of the area at depth and this will shape our ground geophysics and drill programs going forward."

- Mr. Harold Cabrita, President and CEO, Silvore Fox Minerals Corp

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.

Other Corporate News

Part-time CFO, Mr. George Supol informed the Corporation that he would be unable to continue in that role due to the increasing time requirements of other businesses he is involved with and the significant time requirements and growth of Silvore Fox. Mr. Supol will be retained by Silvore Fox as a consultant while Ms. Helen Gao, VP Corporate at Silvore Fox, will also now assume the position of interim CFO.

Silvore Fox management would like to thank George for his hard work and professionalism, and wish him continued success in his other business ventures. Ms. Gao has been deeply involved with all accounting functions at Silvore Fox since joining the Corporation in early 2010 and the Corporation expects this to be a seamless transition thanks to the long notice period that Mr. Supol graciously provided and the fact he will be assisting Silvore Fox as a consultant when required.

Silvore Fox also announces that it has granted to Directors of its Chilean Subsidiaries, and also to a consultant of the Corporation, options to acquire a total of 300,000 Common Shares of Silvore Fox at an exercise price of 10 cents per Common Share, which options will expire February 9, 2017.

Harry Cabrita, President and CEO

Dr. Jingbin Wang, Chairman