AIFMD appointment

El Oro Ltd (the "Company")

10 July 2014

Alternative Investment Fund Managers Directive (2011/61/EU) ("AIFMD")

AIFMD appointment

Investment manager

The Board of El Oro Ltd (the "Company") announces that, following the coming into force of AIFMD, it has appointed Investigations & Management Limited, a wholly owned subsidiary of the group, as the Company's investment manager (the "Manager"). The Manager replaces Mr CRW Parish as the Company's investment manager. Mr CRW Parish remains the Chairman of the Company and the personnel at the Manager managing the portfolio remain unchanged.

The above appointment is effective from 1 July 2014

For further information, please contact:

El Oro Ltd 020 7581 2782 www.eloro.com 

Robin Parish, Chairman

Steven McKeane

Dexion Capital (Guernsey) Limited 01481 743 940

Chris Copperwaite