Eloro Resources Grants Stock Options

Eloro Resources Grants Stock Options

Toronto, Canada, February 18, 2020 – Eloro Resources Ltd. (TSX-V: ELO; FSE: P2Q) (“ Eloro”)

announces the grant of options to directors, officers, employees and consultants to purchase an

aggregate of 1,755,000 common shares of Eloro, exercisable at $0.40 per share at any time on or before

February 18, 2025. The grant is subject to TSX Venture Exchange acceptance and is 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 with a portfolio of gold and base-metal properties

in Peru and Quebec. Eloro 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. The property 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 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 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

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.

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