ELO Eloro Resources Ltd

Eloro Resources Ltd. (TSX VENTURE:ELO)(FRANKFURT:P2Q) ("Eloro" or the "Company")
is pleased to announce that it has completed the acquisition (the "Acquisition")
of all of the outstanding shares of 6949541 Canada Inc. ("6949541") from KWG
Resources Inc. in exchange for shares and warrants of Eloro (see press release
dated December 12, 2011). 6949541 holds eleven contiguous mineral claims in
Louvicourt Township (the "Louvicourt Property"), adjacent to Eloro's
wholly-owned Simkar Gold Property near Val d'Or, Quebec.


As announced on December 12, 2011, the Acquisition closed in escrow subject to
the occurrence of the following conditions: (i) receipt of the TSX Venture
Exchange's ("TSXV") final acceptance of the transaction; (ii) registration of
the transfer of the mineral claims comprising the Louvicourt Property with the
appropriate government offices in Quebec; and (iii) registration of an NSR
Royalty Agreement with the appropriate government offices in Quebec. All of
these conditions have now been fulfilled and the transaction documents have been
released from escrow.


About Eloro Resources

Eloro Resources is an exploration and mine development company with a portfolio
of gold and base metal properties in northern and western Quebec. The Company is
focused on expanding the historic gold resources at the past-producing Simkar
Mine property. Eloro is currently exploring Simkar with the objective of
outlining quality gold resources in an established mining camp.


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 Company'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 Company.
Forward-looking statements and information are based on assumptions that
financing and personnel will be available when required and on reasonable terms,
and all necessary regulatory approvals will be obtained, none of which are
assured and each of which is subject to a number of other risks and
uncertainties. 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.

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