Eloro Resources Ltd.

Eloro Resources Ltd.

April 05, 2006 10:51 ET

Eloro Resources Intersects Significant Zinc-Silver Mineralization at the Hurdman Property

TORONTO, ONTARIO--(CCNMatthews - April 5, 2006) - ELORO RESOURCES LTD. (TSX VENTURE:ELO) ("Eloro" or the "Company") is pleased to announce that diamond drill hole ELO-06-01 from the Company's wholly owned Hurdman Property intersected significant zinc-silver mineralization.

Eloro previously announced on February 9, 2006 that it had commenced its 2006 exploration program on the Hurdman Property, located 120 kilometers north of Timmins, Ontario, and 75 kilometers north of Falconbridge's Kidd Creek Operations. The program included a 12 drill hole / 1,400 meter diamond drilling program with the objective of in-filling and extending the known zinc and silver mineralization along strike and down-dip. To date, assay results are available for the first hole ELO-06-1, and are pending for the remaining 11 holes. The significant intersections of ELO-06-1 include:

ELO-06-01 85.8 97.4 11.6 3.70 7.71
Incl. 88.3 97.4 9.1 4.21 8.72
Incl. 89.2 91.6 2.4 5.97 16.20
Incl. 89.2 90.4 1.2 7.65 30.00
Incl. 93.5 97.4 3.9 5.36 2.64
Incl. 95.7 97.4 1.7 7.57 4.00

Grades are uncut. Lengths are measured along the core axis and are
not true widths.

ELO-06-01 was an in-fill hole collared:

- 25 meters north of historical hole H-91-3 which returned 1.9% zinc over 38.7 meters;

- 45 meters south of H-92-1 grading 1.4% zinc over 8.1 meters;

- 45 meters northwest of Eloro's 2005 drill hole ELO-05-1 which intersected 1.17% zinc, 11.26 g/t silver over 23.8 meters;

- 35 meters northeast of ELO-05-2 grading 3.00% zinc, 12.12 g/t silver over 23.6 meters; and,

- 85 meters northwest of ELO-05-3 grading 1.09% zinc, 22.22 g/t silver.

Results from ELO-06-1 indicate that higher zinc grades can be intersected in sectors not previously known for their higher grades. The Company is currently re-evaluating lower zinc grade areas that may warrant in-fill drilling for upgrading that could ultimately add to the zinc resource potential of the Hurdman Property, particularly when zinc is trading at all time highs in excess of US$1.20 per pound.

The Hurdman Property consists of 28 contiguous mining claims covering 66 km2 in Hurdman Township, Ontario. Mineralization consists of disseminated and massive beds of pyrrhotite, pyrite and sphalerite. Zinc and silver values were intersected historically over widths varying from 0.5 to 30 meters. The zinc bearing zone can be followed over 300 meters along strike, 125 meters down dip and over widths varying from 1.5 to 38 meters. The zone remains open laterally and down dip.

To date 8 of 12 drill holes have been logged, with mineralized samples shipped to Bourlamaque Assay Laboratory in Val-d'Or, Quebec for assaying. Assaying follows a pre-established sampling and assay protocol. Mineralized drill core is sawed in half and sampled on lengths varying between 0.5 to 1.5 meters, sealed in bags, and sent to the accredited assay laboratory. Gold and silver are assayed using the fire-assay method on a 30 gram pulp with an atomic absorption finish. Copper and zinc is analysed using atomic absorption from samples digested in aqua regia. A quality control program (QA/QC) was implemented by the laboratory to insure the precision of the analytical method and results.

Lemoyne North Gold Property, James Bay Region, Quebec

Eloro has initiated a 2,000 meter diamond drilling campaign at its wholly owned Lemoyne North Property (the "Property") testing the down dip extensions of a series of surface gold-copper showings. The Property covers a 39 km2 corridor immediately north and adjacent to Virginia Mines Inc.'s Orfee Gold Zone on the Poste Lemoyne Property which hosts a 95,000 ounce gold resource grading 14.5 g/t Au, that included intersections of up to 43.09 g/t Au over 11.65 meters (Source: Virginia Mines Inc's website at www.virginia.qc.ca). Results of the Eloro drilling program will be released when available.

The contents of this press release have been reviewed by Martin Bourgoin, P. Geo., a qualified person under the guidelines of National Instrument 43-101.

Further information is available on the Company's website at www.elororesources.com.

Statements in this release that are not historical facts are "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. 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

    Thomas G. Larsen
    President and CEO
    (416) 360-8006 or (416) 868-9168
    Jorge Estepa
    Vice President
    (416) 360-8006 or (416) 868-9168