Eloro EXPANDS ITS URANIUM PROPERTY HOLDINGS IN THE OTISH MOUNTAINS DISTRICT

Toronto, Canada, October 18, 2007 - ELORO RESOURCES LTD. ("Eloro" or the "Company"; TSX Venture Exchange: ELO) is pleased to announce that is has expanded its uranium property holdings located in the OtishMountains, in the province of Quebec ("Otish Uranium Properties"). Eloro's interest in the Otish Uranium Properties have increased to 159 claims from 117 claims with the total area in the OtishMountainSedimentaryBasin now comprising 82.5 km². Eloro previously announced the acquisition of the Otish North and Otish South uranium properties on July 5, 2007.

The Company is also pleased to report that it is immediately proceeding with a helicopter supported high resolution radiometric - magnetometer - VLF EM survey on the Otish Uranium Properties. The survey should be completed by the end of October 2007.

The OtishBasin Uranium Mineralization

The Otish Uranium Properties straddle the unconformity contact with the underlying granites and offer potential for classic unconformity-type uranium mineralization both below and above the unconformity surface. Eloro's Otish Uranium Properties are in a similar regional geological context as Strateco's high-grade uranium intersection, and the high grade uranium mines in the AthabascaBasin in Saskatchewan, the world's largest producing uranium camp. Eloro is well positioned for uranium exploration with its four OtishBasin and six James Bay uranium properties, all hosting or proximal to significant uranium mineralization with upside potential.

The Otish Uranium Properties are located approximately 20 km NE of Strateco Resources Inc.'s Matoush Uranium Discovery, where they have intersected significant uranium mineralization in drillhole MT-06-35 2.13% U3O8 over 15.2 m (refer to the Strateco Resources Inc.'s press release dated February 20, 2007). The OtishBasin is also being actively explored by Cameco and Areva, the world's largest uranium producers.

The Matoush Uranium Discovery is closely linked to a regional fault which appears to have acted as a conduit for uranium-bearing fluids. The uranium mineralization found at Matoush lies well above the basin rim and resembles perched bodies found above the McArthurRiver and CigarLake uranium deposits in the Athabasca basin.

About Eloro Resources Ltd.

Eloro Resources Ltd. is a junior exploration company focused on discovering and developing gold-silver, base metal and uranium resources in the James Bay Mining District of northern Quebec and the Timmins Mining Camp of northern Ontario. The Company currently has 12 gold-copper-silver and 10 uranium properties covering 425 km2 in both the La Grande and Eastmain Greenstone Belts, proximal to Goldcorp's Eleonore Gold Deposit. Exploration activity of these relatively under-explored greenstone belts has dramatically increased and Eloro plans to continue aggressive exploration of its portfolio of properties.

The technical content of this press release has been reviewed by Mr. Martin Bourgoin, P. Geo., Executive Vice President of Eloro, and a Qualified Person under the guidelines of National Instrument 43-101.

For further information please contact:

Thomas G. Larsen, President and CEO or Jorge Estepa, Vice President
(416) 868-9168 (tel) or (416) 361-1333 (fax)

Further information is available on the Company's website at www.elororesources.com

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and those actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, Investors should review the Company's registered filings what are available at www.sedar.com.

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