Directors' Report 30 June 2015 - clarification

El Oro Ltd

21 October 2015

El Oro Ltd. ("the Company") Registration No: 49778

Immediate Announcement: Directors' Report 30 June 2015 - clarification 

The Board would like to confirm that the following sentence in the Directors' Report on page 10 of the Annual Report to 30 June 2015:

"The Remuneration Committee recommended, and the Directors agreed to a performance bonus of £83,082 (2014: £157,704) for the year ended 30 June 2015."

Should read:

"The Remuneration Committee recommended, and the Directors agreed that no performance bonus would be paid for the year ended 30 June 2015 (2014: £157,704)."

For further information, please contact:

Dexion Capital (Guernsey) Limited 01481 732814

Chris Copperwaite

El Oro Ltd www.eloro.com 020 7581 2782

Robin Woodbine Parish, Chairman

Steven McKeane

Registered address: 1 Le Truchot, St Peter Port, Guernsey GY1 1WD

End of announcement