Northfield Metals Inc.

Eloro Resources Ltd.

Eloro Resources Ltd.

February 20, 2009 16:05 ET

Eloro Resources Ltd.: Northfield Terminates Proposed Acquisition of Uranium Properties and Right to Earn 50% Interest in Otish Uranium Properties, Quebec

TORONTO, ONTARIO--(Marketwire - Feb. 20, 2009) - NORTHFIELD METALS INC. ("Northfield") announces that the Letter Agreement with ELORO RESOURCES LTD. (TSX VENTURE:ELO) ("Eloro") described in the January 30, 2008 press release, allowing Northfield to earn a 50% interest and operatorship in Eloro's wholly-owned Otish Uranium North and South properties in the Otish Mountains region of Quebec, has been terminated. Northfield also announces that its acquisition of six of Eloro's wholly-owned uranium properties located in the James Bay District of Quebec, the terms of which were previously announced on January 30, 2008, will also not be proceeding.

Statements in this 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

  • Northfield Metals Inc.
    Thomas G. Larsen
    Chairman, President and C.E.O.
    (416) 360-8006 or 1-800-360-8006
    (416) 361-1333 (FAX)
    Eloro Resources Ltd.
    Jorge Estepa
    Vice President and Secretary
    (416) 868-9168
    (416) 361-1333 (FAX)