Eloro Reports on Latest Drilling Results at Simkar Gold Project

Eloro Resources Ltd. (TSX VENTURE:ELO)(FRANKFURT:P2Q) ("Eloro") reports that
Monarques Resources Inc. ("Monarques") earlier today announced the third and
final set of drill results from the Simkar Gold Project ("Simkar" or the
"Property"), which is currently being explored by Monarques pursuant to a joint
venture with Eloro, whereby Monarques holds a 57% interest and Eloro holds a 43%
interest in the Property.


The Simkar property is located 20 kilometres east of Val-d'Or, Quebec, just
north of the Cadillac-Larder Lake Break, in the Abitibi Greenstone Belt, and is
host to a previously mined, gold-bearing, fault-fill and extensional quartz vein
system, characteristic of nearby gold deposits in the Val-d'Or Gold Mining Camp.


The 2013 drilling program consisted of 19 holes, totalling 8,055 metres (m), and
was primarily aimed at extending the gold-mineralized horizons previously
identified as the "A", "B", "C", "D", "East" and "South" zones, with the goal of
confirming their projected horizontal and vertical extensions. A secondary goal
was to develop and test new models of these same structures.


As reported by Monarques, drill holes SK13-03 and SK13-18 were drilled to
intercept a large silicification halo associated with the "South" and "D" zones.
This is the most intense alteration observed in the southern sector, and is
accompanied by diffuse quartz veins and sulphides, more specifically pyrite,
pyrrhotite and chalcopyrite. This zone returned multiple highly-anomalous
values, such as 2.23 g/t Au over 2.5 m (including 5.49 g/t Au over 1.0 m). Drill
holes SK13-014 to SK13-17 and SK13-019, on the other hand, were drilled on the
extension of the "A" and "B" zone to test the mineralized stockwerks. These
holes intersected their target, thus contributing to a better understanding of
the networks of veins and veinlets within the zones. The gold system shows
grades similar to grades mined previously, such as 4.21 g/t Au over 1.4 m
(including 7.89g/t Au over 0.4 m) within an envelope of 1.21 g/t Au over 9.0 m
and 1.27 g/t Au over 3.0 m (including 6.50 g/t Au over 0.40 m). A table of the
best assay results received by Monarques from the 2013 Simkar drilling program
can be found in Monarque's press release dated February 28, 2014, which is to be
made available on their corporate website at www.monarquesresources.com. 


The 2013 exploration program was managed by MRB & Associates ("MRB") of
Val-d'Or, QC who designed the drilling campaign, supervised the program, and
logged and sampled the core. 


MRB implemented QA/QC procedures to ensure best practices in sampling and
analysis of the core samples. The drill core was logged and then split, with
one-half sent for assay and the other retained in the core box as a witness
sample. Duplicates, standards and blanks were inserted regularly into the sample
stream. The samples were delivered, in secure tagged bags, directly to the
analytical facility for analysis; in this case Technilab's facility in Val-d'Or
(Quebec).


After sample preparation (crushing, pulverizing) all samples were, or are
scheduled to be, assayed for gold-content using conventional Fire Assaying with
30 g fusions and atomic absorption spectrometry (AAS) finish. MRB's protocol
calls for gravimetric check-assays to be completed on the coarse crushed reject
for all samples reporting greater than 5 ppm (gpt) gold from the initial fire
assay, whereas other samples within the intersection are re-submitted for check
fire-assay using the original pulps. The final reported gold grade for a sample
is either the gravimetric result, or the average of the fire assays. 


Martin Bourgoin (P.Geo.), Executive Vice President Exploration for Eloro, and a
qualified person (QP) under National Instrument 43-101, has approved the content
of this release.


About Eloro Resources Ltd.

Eloro Resources is an exploration and mine development company with a portfolio
of gold and base-metal properties in northern and western Quebec. The Company is
focussed on expanding the historic gold resources at the past-producing Simkar
Mine with the objective to outline quality gold resources in the established
Val-d'Or Gold Mining Camp. Eloro also recently entered into an agreement
granting it an option to acquire a 50% interest in La Victoria property, located
in the North-Central Mineral Belt of Peru.


Information in this news release may contain forward-looking information.
Statements containing forward-looking information express, as at the date of
this news release, the Company's plans, estimates, forecasts, projections,
expectations, or beliefs as to future events or results and are believed to be
reasonable based on information currently available to the Company. There can be
no assurance that forward-looking statements will prove to be accurate. Actual
results and future events could differ materially from those anticipated in such
statements. Readers should not place undue reliance on forward-looking
information.


Neither the TSXV nor its Regulation Services Provider (as that term is defined
in the policies of the TSXV) accepts responsibility for the adequacy or accuracy
of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Eloro Resources Ltd.
Jorge Estepa
Vice-President
[phone]