Aloro Announces Proposed Issuance of Shares FOR Advisory Services

Suite 1085, 555 Burrard Street Tel: 604-689-5722

PO Box 201 Fax: 604-685-9182

Vancouver, BC, Canada, V7X 1M8

News Release

January 23, 2019 TSX.V Symbol: AORO

Frankfurt Symbol: 4LP

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ALORO ANNOUNCES PROPOSED ISSUANCE OF SHARES FOR ADVISORY

SERVICES

ALORO MINING CORP. (the “Company”) is pleased to announce that it has agreed to issue

200,000 common shares (the “Shares”) of the Company, at a deemed price of $0.15 per Share, to

Axemen Resources Capital Ltd. (“ Axemen”) in consideration for advisory services performed

by Axemen between July 1, 2018 and December 31, 2018.

The Shares to be issued will be subject to a stat utory hold period expiri ng four months and one

day after issuance. The issuance of the Shares is subject to the final approval of the TSX Venture

Exchange.

ALORO MINING CORP.

Per: “Thomas A. Doyle”

Thomas A. Doyle

President & CEO

www.aloromining.com

For further information, please contact:

Thomas A. Doyle

Logan Anderson

Phone: (604) 689- 5722

Email: [email protected]

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the

policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.