TORONTO, ONTARIO--(Marketwired - May 24, 2016) - Eloro Resources Ltd. (TSX
VENTURE:ELO)(FRANKFURT:P2Q) ("Eloro") announces that it has sold its 1.5% NSR on Monarques Resources Inc.'s
wholly-owned Simkar, Tex-Sol, Regcourt, Plator I, Plator II, Plator III, Plator IV and Plator V properties in addition to a 0.5%
NSR on the Louvicourt Property (collectively, the "Royalties"), all located in the Val d'Or gold mining camp.
The Royalties were sold to an arm's length party and Eloro received $82,000 as consideration for the sale.
About Eloro Resources Ltd.
Eloro is an exploration and mine development company with a portfolio of gold properties in Peru and base-metal
properties in northern and western Quebec. Eloro has been granted an option to acquire a 60% interest in La Victoria property,
located in the North-Central Mineral Belt of Peru. The La Victoria Property is free of royalties and consists of two adjacent,
but not contiguous, properties totalling eight mining concessions encompassing approximately 35 square kilometres. The La
Victoria Property is within 50 kilometres of several producing mines, with three producers visible from the property, which has
good infrastructure with road-access and nearby sources of water and electricity.
Information in this news release may contain forward-looking information. Statements containing forward-looking
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expectations, or beliefs as to future events or 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.
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