| ELORO AND MEGASTAR ANNOUNCE $4 Million JV AGREEMENT ON SIMKAR GOLD PROJECT |
Toronto, Canada, June 16, 2009 – Eloro Resources Ltd. (TSX-V: ELO) (“Eloro”) and Megastar Development Corp. (TSX-V: MDV) (“Megastar”) are pleased to announce that they have entered into a Letter of Agreement (the “Agreement”) for a $4 million joint venture on Megastar’s wholly-owned Simkar Gold Project (the “Project”), located approximately 20 km east of Val-d’Or (Quebec). The Project, a former gold producer, consists of two contiguous mining concessions in Louvicourt Township, covering 225.63 hectare. The Project is not encumbered with any royalties.
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Eloro Resources Ltd. 17 Jun 2009 - 07:29 |
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