EASTMAIN PROJECTS

Eloro announced on February 14, 2006 the acquisition of a 100% interest in the Eastmain 1, Eastmain 2 and Delta gold, copper and silver properties in the Eastmain Belt of northern Quebec. The Eastmain Belt hosts Virginia Gold Mines Inc.'s Eleonore Gold Prospect, as well as Eastmain Resources' Clearwater Deposit.

Eastmain 1 Geological Compilation      Eastmain 1 Location Map

Eastmain 1 Geophysical Compilation   Property Location Map

Eastmain 3 Geological Compilation

The Eastmain 1 and 2 properties consist of 26.5 square kilometers in the Eastmain Belt. Eloro has staked an additional 32.6 square kilometers contiguous with the Eastmain 1 property, in addition to its current Eastmain 3 property which Eloro acquired October 2005.

The Delta Property is located approximately 40 kilometers west of the Clearwater Deposit (Eastmain Resources) which hosts Indicated resources of 1,029,332 tonnes grading 9.46 g/t Au (or 0.28 ounces of gold per ton) and Inferred resources of 3,049,660 tonnes grading 6.90 g/t gold (0.20 ounces of gold per ton) (from Eastmain Resources' website). A surface grab sample from the Delta Property taken by the Ministère des Ressources Naturelles of Québec in 2002 yielded 6.56 % Cu and 20 g/t Ag (from report ET-2002-06) in a quartz-chalcopyrite vein exposed on surface for a distance of 25 meters.

Eloro now controls 16 strategic and well located properties representing 225 square kilometers in the highly prospective James Bay district, which includes 92 square kilometers in the Eastmain Belt.

The Company plans a two-phase exploration program in 2006, consisting of initial data synthesis followed by diamond drilling of priority targets.

Eloro acquired the Eastmain 3 Property in October 2005. The Eastmain 3 is a 3,060 hectare gold, copper, silver and molybdenum property located 85 kilometers south west of Virginia Gold Mines Inc.'s Roberto Deposit, within the Eastmain archean greenstone belt in the James Bay area of northern Quebec.

Previous geological surveys conducted on the Eastmain Property by the Quebec Mines and Energy Department (ML-01-4030) revealed mineralized quartz veins within intensively deformed mafic volcanic rocks with interlayers of felsic cherty tuffs. Surface grab samples taken by previous operators yielded values of 176.61 g/t Au and 28.3 g/t Ag and 1395 ppm Zn (GM 48733).

Furthermore, the Eastmain 3 Property is also documented to host molybdenum mineralization. Grab samples taken by the Société de développement de la Baie James ("SDBJ") in 1981 from surface exposure of pegmatite dykes found on the property yielded 0.61% molybdenum, 0.29% molybdenum and 600 ppm bismuth (GM 37997). Furthermore, the SDBJ drill tested some of the pegmatite dykes and the following results were obtained: 0.63% molybdenum over 0.3m, 0.66% molybdenum over 0.3m, 1800 ppm bismuth over 1.0m, and 2500 ppm copper over 0.5m (GM 38169).