Soho Resources Corp. (SOHFF: OTC Link) | Soho Resources Corp Non-Brokered Private Placement


Soho Resources Corp Non-Brokered Private Placement

Jan 23, 2012

OTC Disclosure News Service

Vancouver, BC, Canada –

VANCOUVER, BRITISH COLUMBIA – January 23, 2012 – SohoResources Corp. (TSX Venture – SOH) (“Soho” or the “Company”) announces that ithas arranged a non-brokered private placement of up to 12,500,000 units of theCompany.  Each unit is priced at $0.06per unit, resulting in gross proceeds of up to $750,000.  Each unit is comprised of one common share ofthe Company and one half of a two year transferable share purchase warrant.  Each one whole share purchase warrantentitles the holder thereof to purchase one additional common share of theCompany at $0.10 within two years of its date of issuance. 

All securities issued under the non-brokered privateplacement are subject to a hold period expiring four months and one day afterthe closing date.  Closing of the PrivatePlacement is subject to approval of the TSX Venture Exchange.

Use of Proceeds

Proceeds will be used for general corporate purposes.

WarrantTerm Extension

On January 13, 2012, the TSX Venture Exchange announced they had consented toan extension to the expiry date of warrants issued pursuant to a privateplacement completed January 24, 2011. 

                Number of Warrants:                          15,290,000
                Original Expiry Date ofWarrants:     January 24, 2012
                New Expiry Date ofWarrants:           January 24, 2013
                Exercise Price ofWarrants:               $0.15


AboutSoho Resources Corp
Soho Resources Corp. is an exploration and development company strategicallyfocused on gold, silver and base metals in the prolific Sierra Madre Belt ofMexico.  The Company holds 99.4% of theoutstanding shares of its Mexican subsidiary company that maintains 100%ownership in 9,081 hectare Tahuehueto Property, an advanced stage gold and basemetal exploration and development project. 

Sohoalso holds an option to purchase 100% interest in the 4,332 hectare JocuixtitaSilver Project where the company is currently conducting a first stageexploration drilling program.

Atits flagship Tahuehueto Project in Durango State, Mexico the Company hasembarked on a program of pre-feasibility data collection.  Past exploration efforts Tahuehueto lead tothe delivery, on October 4, 2010, of a PreliminaryEconomic Assessment (“PEA”) completed by Snowden Mining IndustryConsultants Inc.  Key findings from the report included:



TheTahuehueto Project is a classic epithermal system hosting multiple structurestraced for up to six kilometers of strike length. Considerable upsideexploration potential remains on the existing explored resource structures bothdown dip and along strike, as well as on numerous other unexplored mineralizedstructures known to occur on the property.

This press release was prepared under the supervision and review of RalphShearing, President and CEO of Soho Resources Corp., a Licensed Geologist, andQualified Person as defined by NI 43-101.


(signed) “RalphShearing

Ralph Shearing, Chief Executive Officer

The TSX Venture Exchange has not reviewed and does not acceptresponsibility for the adequacy or accuracy of this release

WARNING: The Company relies upon litigationprotection for “forward-looking” statements. This News Release maycontain forward-looking statements including but not limited to commentsregarding the timing and content of up-coming work programs, geologicalinterpretations, receipt of property titles, potential mineral recoveryprocesses, etc. Forward-looking statements address future events and conditionsand therefore involve inherent risks and uncertainties. Actual results maydiffer materially from those currently anticipated in such statements. SohoResources Corp. relies upon litigation protection for forward-lookingstatements.

Glen Sandwell, IR Manager
Tel: (604) 684-8071
Toll Free: 1-800-685-0576

The above news release has been provided by the above company via the OTC Disclosure and News Service. Issuers of news releases and not OTC Markets Group Inc. are solely responsible for the accuracy of such news releases.

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