News Release

The Gate of the Sun

TORONTO, July 08, 2020 (GLOBE NEWSWIRE) – Eloro Resources Ltd. (TSX-V: ELO; FSE: P2Q) (“Eloro” or the “Corporation”) is pleased to announce the signing of a new investor relations agreement (the “Agreement”) aimed at enhancing the Corporation’s shareholder base and ongoing investor communications initiatives.

The primary communications objective will be to increase investor awareness of Eloro’s exploration efforts in Bolivia and Peru.

Eloro has retained the services of Focus Communications of Toronto, Ontario (“Focus”), to provide a range of investor relations, market awareness and consulting services to the Company. The team at Focus will work with management to support Eloro’s interactions with media, broker-dealers, securities advisors, investment funds and members of the investment community.

The Corporation has agreed to pay Focus monthly fees of $5,000 over a 12 month period and subject to all required approval and available capacity under its incentive stock option plan, Eloro has further agreed to grant Focus options to purchase 250,000 common shares of the Corporation at an exercise price to be determined on the date of grant, whereby the options would vest quarterly over 12 months and expire after three years in accordance with the terms of the stock option plan.

The appointment of Focus Communications is subject to the requisite filings with and acceptance of the TSX Venture Exchange.

About Focus Communications
Focus Communications is a private Toronto based firm, specializing in investor relations, corporate communications and market awareness services. Utilizing its extensive database of private investors, brokers, analysts and fund managers, Focus provides customized investor relations solutions for its clients. Focus implements a proactive and “one on one” approach in managing relationships between clients, their shareholders and the investment community for positive, long term relationships.

About Eloro Resources Ltd.

Eloro is an exploration and mine development company with a portfolio of gold and base-metal properties in Bolivia, Peru and Quebec. Eloro has an option to acquire a 99% interest in the highly prospective Iska Iska Property, which can be classified as a polymetallic epithermal-porphyry complex, a significant mineral deposit type in the Potosi Department, in southern Bolivia. Eloro recently commissioned a NI 43-101 Technical Report on Iska Iska, which was completed by Micon International Limited and is available on Eloro’s website and under its filings on SEDAR. Iska Iska is a road-accessible, royalty-free property. Eloro also owns an 82% interest in the La Victoria Gold/Silver Project, located in the North-Central Mineral Belt of Peru some 50 km south of Barrick’s Lagunas Norte Gold Mine and Pan American Silver’s La Arena Gold Mine. La Victoria consists of eight mining concessions and eight mining claims encompassing approximately 89 square kilometres. La Victoria has good infrastructure with access to road, water and electricity and is located at an altitude that ranges from 3,150 m to 4,400 m above sea level.

For further information please contact either Thomas G. Larsen, President and CEO or Jorge Estepa, Vice-President at (416) 868-9168.

Caution regarding Forward-Looking Information
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 statements of forward-looking information 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.


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