Toronto, Canada: September 26, 2006 – Eloro Resources Ltd. (ELO: TSX Venture Exchange) (the “Company” or “Eloro”) is pleased to announce that it has hired Kodiak International Inc. (“Kodiak”) to act as the point of contact and to perform public relations activities for the Company in Europe. The Company intends to dual list its shares for trading on the Frankfurt Exchange to widen its investment base.
Kodiak is a U.S. based Merchant bank specializing in small and medium sized firms seeking a European listing. Kodiak provides a comprehensive suite of services that have been customized to fit the Company’s investor and financial communications needs.
Kodiak and the Company entered into a six month contracting agreement on September 25, 2006 that provides for Kodiak to be the Company’s point of contact in Europe. Kodiak and its affiliates are at arms length to the Company. The Company will pay Kodiak a fee of CDN$55,000 and a fee of CDN$35,000 to list the Company’s shares on the Frankfurt Exchange. The Company will be responsible for the costs of travel expenses of both Kodiak and the Company in attending market awareness meetings in Europe.
About Eloro
Eloro Resources Ltd. is a junior exploration company focused on discovering and developing precious and base metal quality resources in the James Bay District of northern Quebec and the Timmins Camp of northern Ontario. In the James Bay District, Eloro currently has 19 gold-copper-silver and uranium properties covering 320 km2 in the La Grande and Eastmain Greenstone Belts, proximal to Goldcorp’s Eleonore Gold Prospect. Eloro has recently signed a Letter of Agreement with Cambior Inc. allowing Cambior to earn a 50% interest in the Lemoyne North, Sakami East and Taďga claim blocks, by spending C$ 2 million in exploration work on or before June 30, 2010.
In the Timmins, Ontario mining camp, Eloro is currently exploring the 66 km2 zinc-silver-gold Hurdman Property, where the Company has recently announced significant assay results from its Winter 2006 drill program, including 3.70% zinc and 7.71 g/t silver over 11.6 meters core length (ELO-06-01); 2.09% zinc and 40.00 g/t silver over 11.3 meters core length (ELO-06-04); 2.48% zinc and 10.4 g/t silver over 7.9 meters core length (ELO-06-07); 5.22% zinc and 28.02 g/t silver over 7.90 meters core length (ELO-06-08); 4.99% zinc, 26.57 g/t silver over 7.30 meters core length and 49 g/t gold over a 0.5 meters core length (ELO-06-12).
For further information contact Thomas G. Larsen, the President of Eloro, or Jorge Estepa, Vice President of Eloro, at (416) 868-9168.
The TSX Venture Exchange Inc. has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. |
