ONTARIO HOLDINGS

The Hurdman Project (Zinc-Silver) consists of 28 contiguous mining claims covering 6,624 hectares (66km²). The McArthur Lake Nickel property consists of 15 claims extending northward from Fletcher Nickel’s Texmont Project, which includes the developed Texmont Nickel Mine to the south.

HURDMAN PROJECT

The Hurdman Property is located approximately 120 kilometers north of Timmins, in northeastern Ontario.

Eloro's interest in the Hurdman Property stems from the occurrence of concentrations of base metals within pyrrhotite-pyrite mineralization in biotite-garnet gneiss and pegmatites. The property has been explored for base metals sporadically between 1960 and 1998 by previous operators. Sub-economic zinc-silver values were intersected over widths varying from 0.5 to 30 meters. In general, the focus was put on a group of EM anomalies (C, G-H and I) from which zinc values were obtained.

Significant assay results from the Hurdman Property were released by Eloro throughout 2006-2008. Results indicate that the pyrrhotite(-pyrite)-sphalerite semi-massive to massive sulphide zones contain higher zinc grades and have been intersected in areas not previously known for their higher zinc grades. The sphalerite is extremely coarse grained. The presence of significant gold grades is primarily linked to very coarse pegmatite veins (or dykes), generally with higher silver grades and lower zinc grades (with the exception in ELO-06-12), located at the margins of the semi-massive horizons. Erratic scattered high gold and silver values need to be further investigated, since this is the first time gold and high gold grades have been recognized on the property. Drill holes ELO-06-12, and ELO-06-04 and 05 have extended the higher grade zinc (greater than 3%) and silver (greater than 15 g/t) corridor by 25 meters to the west and east; however, the Hurdman mineralization has only been tested to a vertical depth of 80 meters with 18 drill holes in 2005-2006 and remains open in all directions.

Claim Map

Location Map

Regional Geology

Typical Cross Section

2005 NI 43-101 Report

2005 Drill Logs

2006 Compilation Map

2006 Drill Coordinates

2006 Drill Logs

2006 Assay Results

2006 Airborne Geophysics

Hurdman Compilation Map

Hurdman 2007 Assays

Hurdman 2009 Assays

Hurdman Mag EM

MCARTHUR LAKE NICKEL PROPERTY

The McArthur Lake Nickel Property consists of 154 contiguous claims totaling approximately 30 km2 in McArthur, Bartlett and Douglas Townships, located 2 km north of the Texmont Nickel Deposit and 35km south of Timmins, Ontario.

On April 8, 2008, Eloro granted Fletcher Nickel Inc. an option to acquire a majority operating interest in the McArthur Lake Nickel Property. In order to earn its interest, Fletcher must issue 200,00 common shares and incur $1,000,000 in exploration expenditures by July 2012.

Location Map
2007 Airborne Survey