TORONTO, ONTARIO--(Marketwired - June 7, 2016) - Eloro Resources Ltd. (TSX
VENTURE:ELO)(FRANKFURT:P2Q) ("Eloro" or the "Corporation") is pleased to announce the
commencement of a followup surface exploration program on its La Victoria Gold-Silver Project located in Huandoval
District, Ancash Department, in the prolific North-Central Mineral Belt of Peru (see Figure 1). Eloro recently announced (see press release dated May
30, 2016) that it had reached an agreement to acquire an undivided 100% interest in the La Victoria Property.
Tom Larsen, President & CEO commented: "This followup exploration program, which is being overseen by Chief Technical
Advisor to Eloro, Dr. Bill Pearson, P.Geo., will focus on better defining the nature and extent of the extensive epithermal
gold-silver mineralization on the property and refining targets for the planned drill program later this summer. Previous
work indicates that the epithermal system is exposed across approximately 5 km with a vertical extent exposed of at least 500 to
600m."
The exploration program will focus particularly on the Rufina West Oxide Gold Zone, a low sulphidation epithermal target where
there is extensive artisanal mining activity and the adjacent Rufina East Sulphide Zone in the southern part of the property,
Previous sampling by Eloro has indicated the presence of significant high grade gold and silver values in these areas (see press
releases October 8, 2015 and August 12, 2015). Work to be completed includes a 14km Induced Polarization Survey, geological
mapping and lithogeochemical sampling. Eloro has retained noted Andean epithermal gold expert Dr. Osvaldo Arce Burgoa to
conduct the mapping and targeted sampling program.
Qualified Person
Jim Steel MBA, P.Geo., Senior Vice President of Mining for Eloro and a Qualified Person in the context of NI 43-101 has
reviewed and approved the technical content of this news release.
About Eloro Resources Ltd.
Eloro is an exploration and mine development company with a portfolio of gold and base-metal properties in northern Peru and
western Quebec. Eloro recently announced its proposed acquisition of a 100% undivided interest in the La Victoria property,
located in the prolific North-Central Mineral Belt of Peru. The La Victoria Property consists of two adjacent, but not
contiguous, properties totalling eight mining concessions encompassing approximately 35 square kilometres. The Property is within
50 kilometres of several 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 3,100 m to 4,200 m above sea level.
Information in this news release may contain forward-looking information. Statements containing forward-looking
information express, as at the date of this news release, the Corporation's plans, estimates, forecasts, projections,
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.
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.