Eloro Resources Ltd.
TSX VENTURE : ELO

Eloro Resources Ltd.

July 16, 2009 10:53 ET

Eloro Appoints Hockey Hall of Fame's Denis Potvin to the Board of Directors

TORONTO, ONTARIO--(Marketwire - July 16, 2009) - ELORO RESOURCES LTD. (TSX VENTURE:ELO) (the "Company" or "Eloro") is pleased to announce the appointment of Mr. Denis Potvin to the Company's Board of Directors, subject to regulatory approval.

A former National Hockey League (the "NHL") player, Denis most recently appeared as a Hockey Analyst with Fox Sports Network Florida (from 1993 to 2009). He covered the Florida Panthers hockey team and the NHL playoffs, and previously covered the 2006 Winter Olympics hockey (from Turin, Italy). From 1973 to 1988, he played with the New York Islanders Hockey Club (the "Islanders") after being drafted #1 overall in June 1973 by the Islanders. He was Captain of the 4-time Stanley Cup Champion Islanders from 1980 to 1983. He was a 3-time winner of the Norris trophy as the NHL's best defensemen in 1976, 1978 and 1979, and recipient of the Calder trophy as the NHL's rookie of the year in 1974. He was a 9-time NHL All Star, and was inducted to the Hall of Fame in 1991.

From 1993 to 2005, Denis was Financial Advisor for Raymond James & Associates, and prior to that from 1989 to 1993, he was Financial Advisor and sales coordinator for First Capital Advisors New York, offering trade services and pension fund management. From 1984 to 1989, he was a Commercial Real estate broker for Cushman Wakefield (New York), having become a full time broker upon his hockey retirement. Denis is also owner and partner of Total Hockey Florida (the "THF") an off-ice hockey training facility located in Delray Beach, Florida, that focuses on the skills needed to develop hockey players of all ages. He belongs to the EMI Ministries, a charitable organization helping and sustaining a better life for the people of the Sudan and other African countries through teaching and developing self-support skills, and he is a Board member of the MEI Healthcare Foundation.

Denis joins Paul Ankcorn and Francis Sauve as Independent Directors of the Company. In order to accommodate Denis' appointment, Miles Nagamatsu has resigned from the Board but will continue in his position as Chief Financial Officer of the Company.

Mr. Thomas G. Larsen, President and CEO of Eloro commented "Eloro is delighted in having Denis Potvin join its Corporate Team. Denis' business experience, flair and energy and proven success throughout his professional career will be of great value to shareholders and stakeholders as the Company concentrates its efforts on advanced gold projects, such as the recently acquired Simkar Gold Project. Market conditions are offering the opportunity to acquire and develop undervalued gold assets, and that is exactly what Eloro will be eagerly doing in the near term".

About Eloro Resources Ltd.

Eloro is a junior exploration company focused on discovering and developing precious metal quality resources in eastern Canada. Eloro currently has eleven gold(-copper-silver) properties covering 548 km2 in the La Grande and Eastmain Greenstone Belts, proximal to Goldcorp's Eleonore Gold Project, in Quebec. Eloro also has an option to earn a 50% interest in 31 claims held by Virginia Mines Inc. also located in James Bay. Eloro recently announced an option to earn a 50% interest in the former producing Simkar Gold Project located 20 km east of Val d'Or, Quebec. The Timmins area holdings include both the prospective Hurdman Zinc Property, and the 30 km2 McArthur Lake Nickel Property under option to Fletcher Nickel Inc.

Statements in this news release that are not historical facts are "forward-looking statements", and readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results, may vary materially from those in these "forward-looking" statements.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Eloro Resources Ltd.
    Thomas G. Larsen
    President and CEO
    (416) 868-9168
    or
    Eloro Resources Ltd.
    Jorge Estepa
    Vice-President
    (416) 868-9168