Silex Ventures Ltd. Provides a Corporate Update on Its Qualifying Transaction

May 6, 2010: Vancouver, BC - Silex Ventures Ltd. (TSX-V:SXX.P) (“Silex or the “Company”) is pleased to announce that the TSX Venture Exchange (the “Exchange”) has determined that the Lachiguiri Property located in Oaxaca, Mexico and owned by Arco Resouces Corp. (“Arco”), meets Tier 2 Minimum Listing Requirements in connection with the qualifying transaction (the “Transaction”) between Silex and Arco announced on December 2, 2009.

About the Lachiguiri Property

The Lachiguiri Property has an area of 4200 hectares and is located approximately 140 kilometers southeast of the city of Oaxaca near the town of Santiago Lachiguiri. It is comprised of two mining claims, El Pochotle and El Pochotle II, which are 100% owned by one of Arco’s wholly-owned Mexican subsidiaries. The Lachiguiri Property is one of the properties which Silex has the right to acquire a 100% interest in pursuant to the LOI as its Qualifying Transaction under Exchange policy.

A Technical Report has been prepared on the Lachiguiri Property for the Company under National Instrument 43-101 (the “Report”). The Report, which will be available shortly under the Company’s filings on www.sedar.com, recommends a two-phase exploration program on the Lachiguiri Property at a cost of approximately US$800,000. Phase one, budgeted at US$350,000, will consist of further soil geochemical sampling of mineralized areas, along with an Induced Polarization survey with Ground Magnetics. Phase two will consist of a diamond drilling campaign comprising approximately 1500 metres, targeted on localities with anomalous precious metal values and good geophysical anomalies identified in phase one. Phase two is budgeted at approximately US$450,000.

Announcement of Private Placement

The Company further announces that it will be completing a non-brokered private placement of up to 12,500,000 units (“Units”) at a price of $0.20 per Unit for gross proceeds of up to $2,500,000. Each Unit will consist of one common share (“Unit Share”) and one share purchase warrant (“Warrant”). Each Warrant will be exercisable into one additional common share (“Warrant Share”) for a period of one year from the date of issuance at an exercise price of $0.30 per Warrant Share.

The Warrants will be subject to an acceleration clause and, as such, if the closing price of the common shares of the Company on the Exchange is equal to or greater than $0.45 for a period of 20 consecutive trading days (the "Trading Target"), then the Company will have the option to accelerate the expiry date of the Warrants to the date that is 45 days after the Trading Target has been met within a seven business day period and in the event that such a notice is not sent to all holders of the Warrants within the seven business day period, the exercise period for the Warrants will continue for their full 12 month period.

Silex has agreed to issue to finders (“Finders”) share purchase warrants equal to 10% of the Units placed by each Finder and to pay each Finder a fee equal to 7.5% of the gross proceeds placed by such Finder.

Grant of Stock Options

In connection with the Transaction, the Company will be granting an aggregate of 1,550,000 incentive stock options to incoming directors, officers, consultants and employees to purchase up to a total of 1,550,000 common shares in the capital of the Company at a price of $0.20 per common share for a period of five years. The options will be granted under the terms of the Company’s stock option plan.

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Loan Agreement

The Company and Arco entered into a loan agreement dated March 5, 2010 in respect of a $25,000 loan (the “Loan”) made by the Company to Arco. The Loan is to be repaid to the Company by Arco upon completion of the Transaction.

For further information contact:

Geoff Balderson President, Chief Executive Officer, Chief Financial Officer and Secretary

Telephone: 604.602.0001 Fax: 604.488.0886 Email: [email protected]

Completion of the transaction is subject to a number of conditions, including but not limited to, Exchange acceptance and if applicable pursuant to Exchange Requirements, majority of the minority shareholder approval. Where applicable, the transaction cannot close until the required shareholder approval is obtained. There can be no assurance that the transaction will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.

The TSX Venture Exchange Inc. has in no way passed upon the merits of the proposed transaction Neither the 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.