Eloro Resources Ltd. (the “Company” or “Eloro”) (TSX-V: ELO; OTCQX: ELRRF; FSE: P2QM) is pleased to announce that it has entered into an agreement with Haywood Securities Inc. (“Haywood”) to act as lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters including Echelon Wealth Partners Inc. (together with Haywood, the “Underwriters”) pursuant to which the Underwriters have agreed to purchase, on a bought deal basis, 1,936,000 units (the “Units”) at a price of C$1.55 per Unit (the “Issue Price”) for gross proceeds to the Company of C$3,000,800 (the “Offering”).
Eloro Resources Ltd. (TSX-V:ELO) (FSE:P2Q) (“Eloro” or the “Corporation”) is pleased to announce the initiation of the next stage of exploration, including exploratory drilling at the La Victoria Gold Property (“La Victoria”) in the North-Central Mineral Belt of Peru. EHR Resources Limited (“EHR”), which currently holds a 10% interest through its Peruvian subsidiary and is earning up to a 25% interest in La Victoria, has notified Eloro that it is proceeding with the Stage 2 Earn-in period described further below. Eloro’s Peruvian subsidiary currently owns a 90% interest in La Victoria.
Eloro Resources Ltd. (TSX-V:ELO) (FSE:P2Q) (“Eloro” or the “Corporation”) is pleased to announce that Compania Minera Eloro Peru S.A.C., Eloro’s wholly-owned Peruvian subsidiary, has received its ‘Permiso para Inicio de las Actividades de Exploracion’ (“Drilling Permit”) that authorizes the drilling of up to 10 sites within the Rufina zone of the La Victoria Gold/Silver Project, Pallasca Province, Ancash Department, Peru (the “Property”).