Eloro Resources Appoints Graham Speirs, P.Eng. to Advisory Board for La Victoria Project, Peru

Eloro Resources Appoints Graham Speirs, P.Eng. to Advisory Board for La Victoria

Project, Peru

Toronto, Canada, February 7, 2017 – Eloro Resources Ltd. (TSX-V: ELO; FSE: P2Q; “Eloro”) is pleased

to announce the appointment of Mr. Graham A . Speirs, P.Eng, to the Advisory Board for the La Victoria Gold-

Silver Project, Peru. Mr. Speirs is a Canadian Mining Engineer who has more than 35 years of experience

working in the International and Peruvian mining industry. Mr. Speirs has extensive expertise in mine

operations, project management, and mine project development and optimization including projects in remote

areas at high altitudes . He has developed strong skills for successfully executing E nvironmental Impact

Assessments, working closely wi th the communit ies and direct and indirect stakeholders affected by the

projects and with the different levels of government authorities.

Tom Larsen, President and CEO of Eloro, commented “We are delighted to add Graham Speirs to our Eloro

team. His exte nsive mine development and production expertise along with his strong in -country experience

and contributions from his professional team will significantly enhance our work at the La Victoria project as

we continue to move forward with further exploration, including our diamond drilling campaign.”

Mr. Speirs’ experience includes bringing La Libertad Mine in Nicaragua into sustainable production as COO

Central American Operations for B2 Gold Corp.; Vice President of South America for Stonegate Agricom Ltd.,

responsible for developing their Mantaro Phosphate Project in Huancayo Peru. Mr. Speirs has also held the

position of Compa ñia Minera Milpo’s S.A.A. (“Milpo”) Corporate Manager for Engineering and Project

Development (Greenfield and Brown field) and was re sponsible for deepening and modernizing the El

Porvenir Mine; and the developing and bringing into production of the Chapi and Cerro Lindo Projects. Mr.

Speirs was responsible for expanding the Cerro Lindo underground operations, process plant and tailings

dam from 5 ,000tpd to 18,000tpd. He was also responsible for developing Milpo’s Hilarion, Magistral (EIA

permitted) and Pukaququ (EIA permitted) Projects.

In late 2014 Mr. Speirs formed GEMIN Associates S.A.C. an independent Engineering, Project Managem ent

and Mining Contracting Company based in Lima, Peru, which has successfully grown to more than 40

professionals executing engineering, project management and construction projects for Pan America Silver

Peru S.A.C, Hochschild Mining PLC, Cori Puno S.A.C, Eldorado Gold Corporation , Torex Gold Resources

and Compañia Minera Milpo S.A. A. Mr. Spe irs has successfully identified and raised the required capital to

purchase the Antapite Mine from a leading Peruvian Gold Miner and NYSE listed corporation, Compañia de

Minas Buenaventura S.A.A . He is currently based in Lima, Peru.

Eloro also announces the grant of stock options to a consultant to purchase 100,000 common shares of

Eloro, exercisable at $0. 77 per share at any time on or before February 7, 2022. The g rant is subject to TSX

Venture Exchange acceptance and was made in accordance with and subject to the terms of Eloro’s stock

option plan. In accordance with securities regulatory requirements, any shares issued pursuant to the

exercise of such options will be subject to a resale restriction for a period of four months from the date of the

grant.

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 P roject, located in the prolific North -Central Mineral Belt of Peru. The La Victoria

Gold/Silver Project covers 80.4 square kilometers and is within 50 km of several large, low -cost producing

gold mines, with three producers visible from the property. Infra structure 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.

20 Adelaide Street East, Suite 200, Toronto, Ontario CANADA M5C 2T6 Tel.: (416) 868 -9168 Fax: (416) 361 -1333

TSX.V Symbol: ELO www.elororesources.com

Eloro also holds a portfolio of gold and base -metal properties in northern and western Quebec.

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 new release, the Corporation's plans, estimates, forecasts,

projections, expectations, or beliefs as to future events of results and are believed to be reasonable based on

information currently available to the C orporation. 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.

Dr. Bill Pearson , P.Geo. a Qualified Person in the context of N I 43 -101 has reviewed and approved the

technical content of this news release.

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).