Eloro Resources Ltd.
TSX VENTURE : ELO
FRANKFURT : P2Q

Eloro Resources Ltd.

January 07, 2016 07:00 ET

Eloro Resources Issues Shares for Acquisition of Geological Information Delivered Pursuant to A Services Agreement With DIAGNOS Inc.

TORONTO, ONTARIO--(Marketwired - Jan. 7, 2016) - Eloro Resources Ltd. (TSX VENTURE:ELO)(FRANKFURT:P2Q) ("Eloro" or the "Corporation") announces that in connection with the acquisition of geological information delivered pursuant to a services agreement with Diagnos Inc. ("Diagnos"), it has issued 208,333 common shares ("Shares") at a deemed value of $0.12 per Share, representing a payment of $25,000 to Diagnos. Diagnos is providing Eloro with data mining consulting services through its proprietary software tool CARDS (Computer Aided Resource Detection System). In accordance with securities regulatory requirements, the issued Shares are subject to a resale restriction for a period of four months from the date of the issue.

About Eloro Resources Ltd.

Eloro is an exploration and mine development company with a portfolio of gold properties in Peru and base-metal properties in northern and western Quebec. Eloro has been granted an option to acquire a 60% 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 eight mining concessions encompassing approximately 35 square kilometres. The La Victoria Property is within 50 kilometres of several producing mines, with three producers visible from the property, which has good infrastructure with road-access and nearby sources of water and electricity.

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 TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Eloro Resources Ltd.
    Jorge Estepa
    Vice-President
    (416) 868-9168