Vancouver, British Columbia (October 15, 2010 - Sonora Gold & Silver Corp. (the "Company" or "Sonora") reports that in respect of its option on its Handeni Property, the Company has received notice of conversion of the Primary Mining License 0010145 (the "PML") concerning the Handeni property into Mining License 413/2010 (the "ML") pursuant to Tanzanian mining laws. The conversion from the PML to an ML is particularly significant as it now facilitates Sonora's option to purchase all right, title and interest to the ML and conduct prospecting and mining operations on the Handeni property.
The Company also wishes to announce a correction to the price of options announced originally on September 22, 2010 at a price of $0.25 per option share (subsequently repriced to $0.33 per share) to certain directors and officers of Sonora. The price per option share has now been revised to $0.50 per share, with all other terms remaining intact.
ON BEHALF OF THE BOARD OF DIRECTORS
Ken ChurchillPresident & CEO, Director
For further contact:Ken ChurchillTel: 778.373.5499
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."
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