Closing of Private Placement

Sonora Gold & Silver Corp. has completed the non-brokered private placement announced in Stockwatch on Sept. 22, 2010, of five million units for gross proceeds of $1.25-million. The units comprise one common share and one-half of one share purchase warrant, exercisable at a price of 50 cents for one whole warrant share for a period of up to two years from the date of close. The shares issued under the private placement are subject to a four-month hold period expiring Feb. 20, 2011.

ON BEHALF OF THE BOARD OF DIRECTORS

Signed:
"Ken Churchill"

Ken Churchill
President & CEO, Director

For further contact:
Ken Churchill
Tel: 778.373.5499
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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."