Eloro Resources Ltd.
TSX VENTURE : ELO
FRANKFURT : P2Q

Eloro Resources Ltd.

April 22, 2015 07:00 ET

Eloro Resources Announces Additions to Management Team

TORONTO, ONTARIO--(Marketwired - April 22, 2015) - Eloro Resources Ltd. (TSX VENTURE:ELO)(FRANKFURT:P2Q) ("Eloro" or the "Corporation") is pleased to announce the appointment of Mr. John Langton, M.Sc., P. Geo, as President and Mr. Jim Steel, MBA, P. Geo., as Senior Vice President, Mining. Thomas Larsen continues in his role as Eloro's Chief Executive Officer and Chairman.

Mr. Langton is a Professional Geoscientist with over 30 years of experience in various capacities, and is a co-owner of MRB & Associates, a geological consulting firm based in Val-d'Or, Québec. Over the course of his career, Mr. Langton has been involved with academic investigations and mineral exploration programs for precious- and base metals, and industrial minerals. Mr. Langton received his Bachelor of Science in Geology from the University of New Brunswick and a Master of Science (Geology) Degree from Queen's University and is a member of the Association of Professional Engineers and Geoscientists of New Brunswick and a member of the Ordre des Géologues du Québec. As a former Vice President, Exploration for Eloro, Mr. Langton is familiar with the Corporation's portfolio of properties and his exploration experience will be beneficial in evaluating and developing Eloro's properties.

Mr. Steel is a Professional Geoscientist with over 30 years of experience in mining exploration, production, and mining finance and investment. He is the Managing Director of Steel & Associates, an independent analytical firm specializing in value-driven asset analysis incorporating exploration, operations, financial analysis, and strategic market positioning. In his career to date, he has been VP and Portfolio Manager for TD Asset Management with co-management responsibilities for the TD Greenline Precious Metals and Resource Funds. Prior to that, a mining analyst for Newcrest Capital Ltd in Toronto, as well as Ord Minnett Stockbrokers Ltd and S.G. Warburg and Co in London, UK. As a mining geologist he played an integral role in the discovery of the Ujina copper deposit at Collahuasi, Chile. He speaks English, French, and Spanish fluently.

Messrs. Steel and Langton's immediate priority will be to oversee exploration and development at the La Victoria Polymetallic Property in Ancash Province, Peru, in which Eloro is earning a 50% interest from Tartisan Resources Corp. by spending C$1.5 million in staged exploration and work expenditures, and paying C$150,000 in cash, of which C$100,000 has already been paid, on or before January 4, 2019.

"I am very pleased to have Jim and John working to determine the true discovery potential at La Victoria," said Eloro's CEO Mr. Tom Larsen, "and we look forward to their management of the exploration and development process at La Victoria."

About Eloro Resources Ltd.

Eloro is an exploration and mine development company with a portfolio of gold and base-metal properties in northern and western Quebec. Eloro has been granted an option to acquire a 50% interest in La Victoria property, located in the North-Central Mineral Belt of Peru. The La Victoria Property is free of royalties and consists of two adjacent, but not contiguous, properties totalling nine mining concessions encompassing approximately 35 square kilometres. The La Victoria Property has good infrastructure with access to road, water and electricity and is located at an altitude that ranges 3,100 m to 4,200 m above sea level.

Information in this news release may contain forward-looking information. Statements containing forward-looking information express, as at the date of this news release, the Corporation's plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and are believed to be reasonable based on information currently available to the Corporation. There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.

Neither the TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.

Jim Steel MBA, P.Geo., a Qualified Person in the context of NI 43-101, has reviewed and approved the technical content of this news release.

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