Eloro update...adds Jean Lafleur to Board08:30 EST Thursday, December 01, 2005
TORONTO, ONTARIO--(CCNMatthews - Dec. 1, 2005) -
(Not for dissemination in the United States of America)
Eloro Resources Ltd. (TSX VENTURE:ELO) (the "Company" or "Eloro") announced today that it has elected not to proceed with the acquisition of the Langlade copper zinc property (the "Langlade Property"), as detailed in the Company's June 21, 2005 press release.
The management and board of the Company have chosen to focus their Quebec based exploration efforts on its recently acquired land package in the highly prospective and under explored Archean Greenstone Belt in the James Bay area of northern Quebec. Eloro's James Bay area holdings consist of 8 properties totaling nearly 20,000 hectares.
Despite not proceeding with the acquisition of the Langlade Property, Eloro plans to continue to utilize the expertise of Dr. Edwin Gaucher and his company, Explorateurs-Innovateurs de Quebec Inc. ("EX-IN"), part of the ownership group of the Langlade Property. EX-IN is a Quebec based company which has had exploration success using their proprietary BEEP MAT technology and it is anticipated that the technical expertise of the EX-IN group will continue to enhance Eloro's ability to implement and interpret geophysical surveys and data relating to Eloro's James Bay area property holdings.
In connection with the Company's decision not to proceed with the Langlade Property acquisition, Dr. Edwin Gaucher has chosen not to assume his duties as a member of the board of directors of Eloro. Along with all of the other management nominees, Dr. Gaucher was unanimously elected to serve on the board by the Company's shareholders at Eloro's annual and special meeting held on September 30, 2005. Eloro would like to take this opportunity to thank Dr. Gaucher for his contributions to date on Eloro's recent James Bay exploration program and wish him success in all of his future endeavours.
Eloro is pleased to announce that Mr. Jean Lafleur M. Sc., P. Geol. (OGQ), has been appointed to the board of directors of the Company. Mr. Lafleur is a Professional Geologist with 25 years of experience in various capacities, both in Canada and internationally, with a wide range of industry leading companies such as Newmont, Falconbridge, and Placer Dome. Within the mineral exploration field, Mr. Lafleur's experience included company, project and property evaluations and audits, project planning and execution, supervision and management, and resource estimations. More recently, Mr. Lafleur worked with McWatters Mining Inc., a Quebec based junior exploration and mining company, where he was instrumental in the discovery of new ore reserves for the company's projects in the Val d'Or and Malartic mining camps. For the past two years, Mr. Lafleur has been a mineral exploration consultant (as President of PJLEXPL Mineral Exploration Inc.), leading teams in the search for gold, nickel and uranium, as well as an executive and technical advisor in a number of junior exploration companies, including Crowflight Minerals, Beartooth Platinum, Typhoon Exploration, American Bonanza Gold Corporation and Orex Exploration.
"On behalf of the board of directors and management team at Eloro, I would like to welcome Mr. Lafleur to the Eloro board, knowing that he brings a proven track record in mineral exploration and strategic planning which will be put to good use as Eloro's James Bay exploration program advances," stated Thomas Larsen, President and CEO of Eloro.
FOR FURTHER INFORMATION PLEASE CONTACT:
Eloro Resources Ltd.
Thomas G. Larsen
President
(416) 868-9168
(416) 361-1333 (FAX)
www.elororesources.com
The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
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