Eloro Resources and Cott Oil and Gas Announce $5 Million Option Agreement for a 25% Interest in La Victoria Project, Peru - Seite 2

Eloro and Cott have agreed to proceed to the execution and delivery of a definitive agreement ("Definitive Agreement"), incorporating the terms contained in the Agreement. The execution of the Definitive Agreement is subject to the satisfactory completion by Cott of its due diligence investigation of the Property and also subject to the approval by the Boards of Directors of Eloro and Cott, and in the case of Cott, the approval of the ASX Limited and if applicable, shareholders of Cott, and in the case of Eloro, the approval of the TSX Venture Exchange.

Eloro Resources at the PDAC

Eloro will be participating at the PDAC 2017 convention in Toronto and invites you to visit us at Booth 2326 (Investors Exchange) in the South Building, Metro Toronto Convention Centre from March 5 - 8, 2017.

About Eloro Resources Ltd.

Eloro is an exploration and mine development company which holds 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 kilometers 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.

About Cott Oil and Gas Limited

Cott is an ASX publicly-listed company that sold its oil and gas interests in late 2016 and has since been looking to diversify into the mineral resource sector. The Chairman of Cott, Mr. Stephen Dennis, has been actively involved in the mining industry for over 30 years and is also Chairman of several listed resource companies in Australia. Mr. Dennis was for 8 years, up to 2015, Managing Director and CEO of CBH Resources Limited, a significant producer of silver, lead and zinc, which is the Australian-based subsidiary of Toho Zinc Co. Ltd., a Japanese company listed on the Tokyo Stock Exchange.

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.

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).

Thomas Larsen
President and CEO
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Jorge Estepa
Vice-President
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