Agoracom

TORONTO, ONTARIO - April 9, 2008 - Eloro Resources Ltd. (TSX VENTURE:ELO) ("Eloro") has granted Fletcher Nickel Inc. (TSX:FL) ("Fletcher Nickel") an option to acquire a majority operating interest in Eloro's McArthur Lake and Douglas Nickel Properties (the "Properties") located in McArthur, Douglas and Bartlett Townships in northern Ontario. The Properties cover 15 claims (183 claim units) in the belt of komatiites extending northward from Fletcher Nickel's Texmont Project, which includes the developed Texmont Nickel Mine to the south, plus extensive mineral claims adjoining the mine leases to the west and south.

Fletcher Nickel may earn a 55% joint venture interest in the Properties by completing $1,000,000 of exploration expenditures over four years and issuing 50,000 shares annually to Eloro, until the interest is earned. A minimum of $150,000 of such exploration expenditures must be incurred in the first year; $200,000 in the second year; $250,000 in the third year; and, $400,000 in the fourth year.

The completion of the transaction is subject to approval of the formal agreement by the board of directors of both Eloro and Fletcher Nickel and the receipt of all necessary regulatory and exchange approval.


About Eloro Resources
Eloro is a junior exploration company focused on discovering and developing precious and base metal quality resources in James Bay area of northern Quebec, as well as base and precious metals in the Timmins Camp of northern Ontario. Eloro currently has eleven gold-copper-silver properties covering 548 km2 in the La Grande and Eastmain Greenstone Belts, proximal to Goldcorp's Eleonore Gold Prospect; has an option to earn a 50% interest in 3 properties held by Virginia Mines Inc.; and the Timmins area holdings include the prospective Silver-Zinc-Gold Hurdman Property, the McArthur Lake Nickel Property and the Douglas Nickel Property.

Investors can visit the Eloro hub at http://www.agoracom.com/ir/eloro, and post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Please send your request for information and to be added to our mailing list to elo@agoracom.com.

Statements in this release that are not historical facts are "forward-looking statements" and readers are cautioned that any such statements are not guarantees of future performance, and that actual developments or results, may vary materially from those in these "forward-looking" statements.


The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

CONTACT INFORMATION:
Eloro Resources Ltd.
Thomas G. Larsen
President and CEO
(416) 868-9168

or

Eloro Resources Ltd.
Jorge Estepa
Vice-President
(416) 868-9168
Fax: (416) 361-1333
Website: www.elororesources.com