Iledor Closes the Acquisition of Mining Properties of Chrome and Platinum Group Elements

CORPORATION EXPLORATION ILEDOR ("ILEDOR" OR THE "CORPORATION") (TSX VENTURE:ILE)
is pleased to announce the closing of the acquisition from Bertrand Brassard of
a direct property interest of 100% of 232 mining claims in the Coleraine
property located in the Thetford Mines region and of 37 mining claims in the
Sterret property in the Asbestos in consideration of the issuing of two millions
nine hundred forty thousand (2,940,000) class "A" shares in the capital stock of
the Corporation (the "Common Shares"), and the payment of a 2% royalty to the
vendor from the net smelter returns, of which 1% is redeemable by the
Corporation for a lump-sum of $1,000,000 (the "Transaction"). The Common Shares
are partially held in escrow for a period of 21 months and will be released in
successive tranches until November 10, 2014. In the scope of the Transaction,
the Corporation has paid to Seguin Racine, Attorneys, an arm's length party, and
intermediation fees of two hundred ninety-four thousand (294,000) Common Shares.
Each Common share is subject to a mandatory holding period of four (4) months
and one (1) day. The Corporation has obtained all required approvals from the
TSX Venture Exchange in order to close.


The Coleraine and Sterret properties, as reported in the National Instrument
43-101 Technical Report dated of March 15 2013 and available on SEDAR
(www.sedar.com) under the Company's filed documents, covers about 13,078
hectares and are located in the Appalachian Mountain in the Eastern Townships of
southern Quebec. Both areas are underlain by Cambro-Ordovician mantle and lower
crustal rocks of the Thetford Mines and Asbestos Ophiolite Complex comprised of
an assemblage of differentiated mafic and ultramafic rocks.


The Coleraine Property is located approximately 230 kilometers NE of Montreal
and 5 kilometers south of the City of Thetford Mines in the Province of Quebec.
The property consists of 232 mining claims totaling 10 852 hectares and lies
within the NTS Quadrangles 21E/14 and 21L/03 and is easily accessible by road
and secondary roads from Thetford Mines. 


Compiling and analyzing of previous work from the Coleraine Property led to
confirm the very close relationship between the cumulate sequence of the
Thetford Mines Ophiolitic Complex, chromiferous mineralization and Platinum
Group Element (PGE) mineralization. More than ten (10) known historical chromite
deposits and chromite showings were recognized and defined (Montreal Mine,
American Chrome Mine, Greenshields Mine and the showings American Chrome Jr.,
Cesar, Dumais, Finneth, Gagne, and Lambly-Nadeau). A total of approximately
34,000 tons of ore with an average grade of 40.44% Cr2O3 (27.67% Cr) were
produced from the Montreal Mine. Mining of this deposit was carried out during
the following periods: 1894-1899, 1901-1903, 1907-1910, 1915-1918 and 1941-1949.
The results of the past work are very interesting and significant for Iledor
since they not only confirm the presence of platinum and palladium on the
Coleraine Property, but also seem to show that PGE mineralization is
preferentially associated with the contact between the ultramafic and mafic
units of the Thetford Mines Ophiolitic Complex. The later observation opens up
very great exploration potential since more than 10 kilometers of the contact is
present on the Coleraine Property. Large-scale mapping and prospecting of the
contact led to identifying new Platinum Group Elements showings.


The Sterret Property is located approximately 150 kilometers NE of Montreal and
8 kilometers south of the City of Asbestos in the Province of Quebec. The
property consists of 37 mining claims totaling 2 226 hectares and lies within
the NTS Quadrangles 31H/09 and is centered on coordinates 261,800 mE and
5,062,550 mN (UTM Nad 83). Only the lower unit of the complex underlies the
property.


Over the years, many exploration programs have been carried out on the Sterret
Property, mainly for the discovery of chromite mineralization. The Sterret mine
has produced more than 150 000 tonnes of chromite ore at a grade of about 18%
Cr203. The Sterret Property has not been systematically investigated in terms of
potential PGE mineralization. In view of the similar ages and lithologies and of
the interpreted correlation with the Thetford Mine Ophiolitic Complex, it is
significant that the property offers an interesting potential for PGE
exploration.


The proceed of the Placement (press release of Iledor dated February 21, 2013)
will be mainly used for the advancement of the Coleraine and Sterret properties.
The phase one (1) exploration program has the objective of validating the
historic results on the Properties. The first phase includes a detailed GIS data
compilation (geological maps and Diamond Drill Holes) and a synthesis to
delineate the priority targets follow up surface work. This phase will be follow
by detailed field prospecting and geological mapping with a systematic sampling.


All technical information included in this press release have been reviewed and
approved by Bertrand Brassard (P.Geo., M.Sc.) and Serge Gaudard, P.Geo., OGQ,
from Consultant GEM, qualified persons under National Instrument 43-101 rules.


Statements made in this news release that are not historical facts are
"forward-looking statements" and readers are cautioned that any such statements
are not guarantees of future performance, and that actual developments or
results, may vary materially from those in these "forward-looking" statement.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Mr. Bertrand Brassard
President and Chief Executive Officer
[phone]
www.explorationiledor.com