Eloro Resources Ltd. Acquires Additional Exploration Lands at La Victoria Gold/Silver Project, Ancash, Peru, while Major Mining Companies Continue to Acquire Exploration Lands in the Area - Seite 2

Fresnillo Peru SAC, subsidiary of Mexican miner Fresnillo plc, has registered one 400 ha (4 sq.km.) claim on the northern boundary of Minera Eloro Peru's San Markito Concession, and has acquired an additional 300 ha (3 sq.km.) mining claim to the east of the La Victoria Gold/Silver Project.

As a result of this recent activity, the La Victoria Gold/Silver Project is now bordered on the north by Fresnillo; on the south by Newmont; on the southeast by First Quantum; and on the east by Barrick Gold, with Anglo American in close proximity.

"We are delighted to have five world-class mining companies on our doorstep in Peru," said Eloro's CEO Tom Larsen. "These recent acquisitions reinforce our conviction that we are in the right place at the right time with the right gold/silver project. Our new expanded land holding gives us even more discovery leverage in the event of successful exploration."

About Eloro Resources Ltd.

Eloro is an exploration and mine development company which recently acquired a 100% undivided interest in the La Victoria Gold/Silver Project, located in the prolific North-Central Mineral Belt of Peru. The La Victoria Gold/Silver Project covers 80.4 square kilometres and is within 50 km of several large, low-cost producing gold mines, with three producers visible from the property. Infrastructure in the area is good with access to road, water, and electricity and is located at an altitude that ranges from 3,100m to 4,200m above sea level. Eloro also holds a portfolio of gold and base-metal properties in northern and western Quebec.

Information in this news release may contain forward-looking information. Statements containing forward-looking information express, as at the date of this new release, the Corporation's plans, estimates, forecasts, projections, expectations, or beliefs as to future events of 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.

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.

For additional technical information on the La Victoria Project, the reader is referred to the NI 43-101 Technical Report on the La Victoria Au-Ag Property, Ancash, Peru filed under Eloro's profile on SEDAR (www.sedar.com).

To view Figure 1 - La Victoria Gold / Silver Project, please visit the following link: http://media3.marketwire.com/docs/eloro-table-011717.pdf.

Eloro Resources Ltd.
Thomas Larsen
President and CEO
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Eloro Resources Ltd.
Jorge Estepa
Vice-President
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