Silex Ventures Ltd. Provides an Update on Its Qualifying Transaction

February 7, 2011: Vancouver, BC - Silex Ventures Ltd. (TSX-V:SXX.H) (“Silex or the “Company”) announces that it has been granted conditional approval by the TSX Venture Exchange in connection with its qualifying transaction with Arco Resources Corp. The Company’s filing statement dated February 2, 2011 has been filed on SEDAR and is posted under the Company’s profile at www.sedar.com. Closing of the qualifying transaction is schedule to occur on February 15, 2011.

Revised Terms of Private Placement

The Company has revised the terms of its non-brokered private placement to issue 11,902,270 units (“Units”) at a price of $0.11 per Unit for gross proceeds of $1,309,250. Each Unit will consist of one common share (“Unit Share”) and one share purchase warrant (“Warrant”). Each Warrant will be exercisable for one additional common share (“Warrant Share”) for a period of one year from the date of issuance at an exercise price of $0.15 per Warrant Share.

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

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.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

AC/1193411.1