Eloro Resources Ltd

Eloro Resources Ltd. Files NI 43-101 Technical Report on the La Victoria Gold/Silver Property, Ancash, Peru

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Toronto, ON (pta020/07.09.2016/15:45) - Eloro Resources Ltd. (TSX-V: ELO; FSE: P2Q; "Eloro") is pleased to announce that it has filed a National Instrument ("NI") 43-101 Technical Report ("Technical Report") authored by Mr. Luc Pigeon, M.Sc., P.Geo. on the La Victoria Gold/Silver Property ("La Victoria" or the "Property") in Huandoval District, Pallasca Province, Ancash Department, Peru. The Technical Report was filed as one of the terms precedent to the acquisition of 100% of La Victoria from Tartisan Resources Corp. (see News Release dated August 5, 2016). Mr. Pigeon, P.Geo. is a Qualified Person as defined by NI 43-101 and has managed or participated in all exploration programs on the Property since 2012.

The Technical Report incorporates results of Eloro's recent geophysical survey and surface mapping programs (see press release June 7, 2016), managed by Senior Technical Advisor Dr. Bill Pearson, P.Geo. The geophysical survey was overseen by Dr. Chris Hale, P.Geo. of Intelligent Exploration, Guelph, Ontario, Canada, while a property-wide lithological, structural and alteration mapping program was managed by well-known Bolivian economic geologist Dr. Osvaldo Arce, La Paz, Bolivia.

"This NI 43-101 Technical Report is a major step forward in the understanding of the La Victoria Gold/Silver Property", said Eloro CEO Mr. Tom Larsen, "Results of the new geophysical and geological mapping and sampling programs combined with results of historical work have allowed us to select a number of very prospective targets to test in the upcoming diamond drill program."

Four principal mineralized zones are identified on the Property: San Markito, Rufina, Victoria and Victoria South. The Rufina and San Markito zones are the most advanced targets and are recommended for drilling whereas the Victoria and Victoria South zones are at an early exploration stage. In general, mineralization occurs within breccias and veins that contain significant gold and silver concentrations and trace element characteristics that are compatible with epithermal deposits especially the low sulphidation type.

A two-part Phase I exploration program is recommended. The first part is budgeted at US$250,000 and includes permits, road work and drill pad construction for the diamond drill program, with detailed followup mapping, sampling and geophysical surveys. The Part 2 drill program is budgeted at US$850,000 and includes 3,000m of diamond drilling at San Markito and Rufina. Eloro has initiated discussions with several drill contractors in Peru for the Phase I drilling program.