Ms. Anna Stylianides reports

ECO ORO ANNOUNCES PRIVATE PLACEMENT OF UP TO $3-MILLION

Eco Oro Minerals Corp. intends to complete a non-brokered private placement of up to 3,896,104 common shares of the company at 77 cents per common share for gross aggregate proceeds of up to $3-million.

The net proceeds of the offering will be used by Eco Oro for general working capital purposes. There are currently 84,228,421 common shares outstanding without giving effect to the offering. Following completion of the offering, assuming it is fully subscribed, the company will have a total of 88,124,525 common shares outstanding.

Certain insiders of the company, including Eco Oro's most significant shareholders, may acquire common shares under the offering. Any such participation would constitute a related-party transaction as defined under Multilateral Instrument 61-101 (protection of minority securityholders in special transactions). Such participation, however, is exempt from the valuation and minority shareholder approval requirements of MI 61-101 based on the fact that neither the fair market value of the offering, nor the consideration paid by such persons, exceeds 25 per cent of the company's market capitalization.

The offering is subject to receipt of approval to list the common shares on the Toronto Stock Exchange. The common shares will be subject to a hold period under applicable securities laws, which will expire four months plus one day from the date of closing of the offering. The company has not filed a material change report at least 21 days prior to the anticipated closing of the offering as the terms of the transaction had not been established at that time.

We seek Safe Harbor.