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

October 6, 2010: Vancouver, BC - Silex Ventures Ltd. (TSX-V:SXX.H) (“Silex or the “Company”) is pleased to announce that it has revised the terms of its proposed financing in connection with the qualifying transaction (the “Transaction”) between Silex and Arco Resources Corp. (“Arco”) announced on December 2, 2009. The revised terms are subject to approval by the TSX Venture Exchange (the “Exchange”).

Revised Terms of Private Placement

The Company proposes revising its non-brokered private placement of up to 12,500,000 units (“Units”) at a price of $0.15 per Unit for gross proceeds of $1,875,000. 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 $0.20 per Warrant Share.

Silex 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.

The Lachiguiri Property

If the Transaction closes, Silex will acquire an option to earn up to a 100% interest in three groups of mineral claims currently owned by Arco, including 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 for the Company on the Lachiguiri Property under National Instrument 43-101 (the “Report”). The Report, which is available under the Company’s filings on www.sedar.com, recommends a two-phase exploration program 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.

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

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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.