Eloro Resources Announces Brokered Private Placement for Gross Proceeds of up to C$5.0 Million

Eloro Resources Ltd. (TSX: ELO; OTCQX: ELRRF; FSE: P2QM) (“Eloro” or the “Company”) is pleased to announce that it has entered into an agreement with Red Cloud Securities Inc., to act as lead agent and sole bookrunner on behalf of a syndicate of agents (collectively, the “Agents”), in connection with a best efforts private placement (the “Marketed Offering“) for aggregate gross proceeds of up to C$5,000,000 from the sale of up to 5,263,158 units of the Company (the “Units”) at a price of C$0.95 per Unit (the “Offering Price”).