SOC Sonora Gold and Silver Corp

Further to the Company's press release dated October 22, 2010, the Company wishes to report that on October 28, 2010, representatives of Sonora attended a meeting at the office of the Commissioner for Minerals for the United Republic of Tanzania. Also present at the meeting, were the Commissioner for Minerals, representatives of Canaco Resources, and the holder of mining licence no. 413/2010 over which the Company has an option.

At the meeting, the Minister indicated that it was the interest of the Government of Tanzania to see that the Magambazi Mineral Property is developed into a large scale mine in the future and that this can be achieved if the area covered by ML 413/2010 which is located within the larger area covered by Canaco's Prospecting Licence becomes part of the project.

The Minister has directed that the ML holder, Canaco and Sonora hold discussions to resolve their business arrangement amicably, and that the parties should resolve the matter and report to the Commissioner not later than November 29, 2010.

The Company would like to re-iterate that it had on its own accord, directly notified Canaco on July 30, 2010 of its option agreement with the holder of the PML and provided detailed coordinates of the area of land covered by the PML, as a measure of good faith to settle the matter in an amicable fashion. Subsequently, the Company has made numerous attempts to contact Canaco, but Canaco has not responded to any of these attempts.

"We feel very strongly that Sonora's board and management has taken all appropriate and legal steps to confirm validity of title and license status prior to entering into the agreement with the private PML holder to acquire the Handeni Mining License and we hope that an amicable solution can be reached with Canaco expediently. Furthermore, we would like to assure our shareholders that we will not be deterred in our focus to continue exploration on all fronts, including the advancement of the Negese property," states company President, Ken Churchill.

ON BEHALF OF THE BOARD OF DIRECTORS

Ken Churchill, President & CEO, Director

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.

Contacts: Sonora Gold & Silver Corp. Ken Churchill 778.373.5499 ken@sonoragoldcorp.com

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