Eloro Resources Ltd.: Eloro Resources Announces Financing

Toronto, ON (pta008/15.08.2017/14:39) - Toronto, Canada, August 14, 2017 - Eloro Resources Ltd. (TSX-V: ELO; FSE: P2Q; "Eloro") is pleased to announce that it is proceeding with a non-brokered private placement (the "Private Placement") of 600,000 units of Eloro at a price of USD0.70 per unit ("Units") for proceeds of USD420,000.

Each Unit will consist of one common share ("Common Share") and one half of one Common Share purchase warrant (a "Warrant"). Each whole Warrant will entitle the holder to purchase one Common Share at a price of USD1.00 per share for a term of 24 months following the closing of the Private Placement.

The proceeds of the Private Placement will be used for working capital purposes. The Private Placement is subject to approval by the TSX Venture Exchange. All securities issued pursuant to the Private Placement will be subject to the applicable statutory four-month hold period.

About ELORO RESOURCES LTD.

Eloro is an exploration and mine development company which recently acquired 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 kilometres 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.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).

For further information please contact Thomas Larsen, President and CEO or Jorge Estepa, Vice-President of Eloro Resources Ltd. at (416) 868-9168.

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.

Eloro Resources Ltd. | Phone (416) 868-9168 | Fax (416) 361-1333 | info@elororesources.com | www.elororesources.com
Eloro Resources Ltd., 20 Adelaide Street East, Suite 200, Toronto, ON M5C 2T6 Canada

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