We have presented experimental results addressing the origin of spin valve (SV) magneto-resistance (MR), in both injection and tunnel conduction regimes, in our fabricated Fe₃O₄ (111)/Alq₃/Co SV device. Experimental evidences have shown that any alternative MR process, such as ‘tunneling anisotropic MR’ is not at the origin of this SV MR. Spin resolved density of states of electrodes indicate that both the conduction mechanisms induce different spin dependent scattering which inturn modify the MR signal of the device. This modification helped in maintaining a non-monotonous quenching of MR signal with increase in temperature. We have also proposed a phenomenological model for device operation where the concept of charge gap modification at Fermi level across Verwey transition is envisaged to offer this unique scenario of tuning the conduction mode and hence MR in this ferrite based organic SV. The model is also supported by an established theoretical study which considers high temperature phonon assisted tunneling through defect states at electrode–organic interface of the device.