Eloro Resources Ltd T.ELO

Eloro does deal with NFX Gold

[lhynes]

FEBRUARY 21, 2006 - 19:02 ET NFX Gold Inc. Acquires Additional Strategic Properties from Eloro Resources Ltd. Along Larder Lake Break TORONTO, ONTARIO--(CCNMatthews - Feb. 21, 2006) - (Not for dissemination in the United States of America.) NFX GOLD INC. (TSX VENTURE:NFX) ("NFX" or the "Company") and ELORO RESOURCES LTD. (TSX VENTURE:ELO) ("Eloro" or the "Vendor") are pleased to announce that they have entered into an agreement (the "Agreement") pursuant to which NFX has agreed to acquire (the "Acquisition") from Eloro, a related party, 13 mining claims (collectively the "Properties") located along the Larder Lake Break in northeastern Ontario. The Properties consist of 10 mining claims in McVittie Township which are contiguous to the north and west of NFX's 100% owned Larder Lake Properties (as defined below), 2 mining claims in McGarry Township located to the north and east of NFX's Larder Lake Properties, and 1 mining claim located in Gauthier Township, near Kirkland Lake, Ontario. Pursuant to the Agreement, NFX has agreed to acquire a 100% interest in the Properties in exchange for the issuance to the Vendor of 250,000 common shares of the Company (the "Common Shares"). The Properties are currently encumbered with a 1% Net Smelter Return ("NSR") royalty, of which the Vendor has the option to purchase 0.5% for $500,000. The obligations of the existing royalty agreement will be assigned from Eloro to NFX, subject to the terms thereof. Pursuant to the Agreement, NFX also agrees to grant to the Vendor a NSR royalty of 0.5%. The Acquisition of the strategically located Properties significantly increases NFX's land package along the prolific Larder Lake Break. NFX will add 2,064 hectares to its 1,751 hectare Larder Lake Properties (consisting of the 100% owned Cheminis, Bear Lake and Fernland properties and the 75% owned Barber Larder property). The completion of the Acquisition is subject to several conditions, including the entering into of a formal agreement, the completion of due diligence, board of director's approval for Eloro and NFX, and the receipt of all necessary regulatory approval including that of the TSX Venture Exchange Inc. For further information contact either Thomas G. Larsen, the President and CEO of both NFX Gold Inc. and Eloro Resources Ltd., or Jorge Estepa, Vice President of both NFX Gold Inc. and Eloro Resources Ltd. at [phone] or [phone]. The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release CONTACT INFORMATION NFX Gold Inc. and Eloro Resources Ltd. Thomas G. Larsen President [phone] or [phone] or NFX Gold Inc. and Eloro Resources Ltd. Jorge Estepa Vice President [phone] or [phone] [phone] or [phone] (FAX) www.nfxgold.com www.elororesources.com