Proposal regarding continuation of Company

El Oro Ltd (the "Company")

6 September 2016

Proposal regarding continuation of Company

The Directors of the Company have resolved to table a special resolution at the next Annual General Meeting of the Company (which is planned to take place on 17 November 2016) to amend the Company's Articles of Incorporation to provide that the Company be placed into voluntary liquidation, unless the shareholders of the Company pass a special resolution at the Annual General Meeting to be held in or around November 2018 that the Company may continue (the "Resolution").

Robin Parish, Robert Wade, Junior Kumaramangalam and Anthony Wild, being Directors of the Company who hold or are interested in shares in the Company, and Emma Houston and David Hunting, being Directors of the Company's subsidiary, El Oro and Exploration Company Limited, who hold or are interested in shares in the Company, have all executed undertakings to vote in favour of the Resolution.

For further information, please contact:

El Oro Ltd 020 7581 2782 www.eloro.com 

Robin Parish, Chairman

Una Ni Dhonaill

Aztec Financial Services (Guernsey) Limited] 01481 748831

Chris Copperwaite