Net Asset Value - 31 October 2012

El Oro Ltd

20 November 2012

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

Immediate Announcement: Net Asset Value 

Valuation date 31 October 2012

Currency GBP

NAV 127.5 pence

Share Price (mid) 98.0 pence

Discount 23.1 %

The Company's Share Price can be found at www.cisx.comand also on SETSqx [ticker - ELX].

For further information, please contact:

C Robin Woodbine Parish: Chairman

El Oro Ltd www.eloro.com 020 7581 2782

Robin Woodbine Parish, Chairman

Steven McKeane

Dexion Capital (Guernsey) Limited 01481 732814

Gillian Newton

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

End of announcement