Soho Resources Corp. Closes Non-Brokered Private Placement and Grant of Stock Options

Soho Resources Corp. (TSX VENTURE:SOH) ("Soho" or the "Company") has closed its
non-brokered private placement for gross proceeds of $3,058,000 (the "Private
Placement") by issuance of 30,580,000 units (each a "Unit") of the Company, at a
price of $0.10 per Unit. Each Unit consists of one common share (a "Share") of
the Company and one half of one share purchase warrant (each whole warrant a
"Warrant"). Each Warrant is exercisable into one additional Share for a period
of one year, until January 24, 2012, at a price of $0.15 per Share.


The Company has paid cash finder's fees in the aggregate amount of $50,000. The
Company also issued an aggregate of 459,500 finder's units (the "Finder's
Units") to certain finders.


All securities issued under the Private Placement are subject to hold periods
expiring May 25, 2011.


The Company will use the proceeds of the Private Placement as follows:



--  $500,000 to pay out all of its outstanding debentures. The Company is
    pleased to advise that the debenture holders reinvested the full
    $500,000 into the Private Placement. The debentures have now been
    cancelled.

--  Approximately $1.5 million will be used to commence collection of data
    to advance the Tahuehueto Project into prefeasibility studies. Work will
    consist of one or more of the following initiatives:

    --  geotechnical slope stability investigations at the Cinco de Mayo 
        zone in order to prove stability of the cliff face above the zone 
        so that the zone may be brought into the open-pit mining plan;

    --  core drilling within the resource zones as required in order to 
        increase confidence of the inferred resource into measured and 
        indicated resources as required for pre-feasibility and 
        feasibility studies; and

    --  collection of environmental data necessary for pre-feasibility and
        feasibility studies for future mine planning.

--  Approximately $400,000 will be used to fund a preliminary exploration
    program on the Jocuixtita Silver Project, as follows:

    --  initial exploration work of geological mapping, trenching, surface 
        and underground sampling;

    --  a diamond drilling program in order to test two of the principal
        mineralized zone(s) on the Project, strongly mineralized in silver,
        lead and zinc.

--  The balance will be used for general and administrative corporate
    purposes including a marketing program within North America and Europe,
    and ongoing working capital.



The Company also announces it has granted an aggregate of 4,800,000 incentive
stock options to officers and directors of the Company to purchase up to a total
of 4,800,000 common shares in the capital of the Company at a price of $0.10 per
common share. The options expire on February 1, 2016.


The options have been granted under the Company's existing stock option plan and
are subject to the provisions contained in the Company's stock option plan. The
Company has a 10% rolling stock option plan, in accordance with the policies of
the TSX Venture Exchange, which plan reserves a maximum of 10% of the issued and
outstanding shares of the Company at the time of the stock option grant.
Approximately 60% of the Company's available stock options under the Plan are
currently issued with the other 40% reserved for future issuance at the
discretion of the board.


ON BEHALF OF THE BOARD OF DIRECTORS

Ralph Shearing, Chief Executive Officer 

WARNING: The Company relies upon litigation protection for "forward-looking"
statements. This News Release may contain forward-looking statements including
but not limited to comments regarding the timing and content of up-coming work
programs, geological interpretations, receipt of property titles, potential
mineral recovery processes, etc. Forward-looking statements address future
events and conditions and therefore involve inherent risks and uncertainties.
Actual results may differ materially from those currently anticipated in such
statements. Soho Resources Corp. relies upon litigation protection for
forward-looking statements.


Shares Issued - 185,053,193

Last Close $0.12 - January 31, 2011