Eco Oro Shareholders Set Record Straight Regarding Another Misleading Press Release by Board

Minority Shareholders Continue to Overwhelmingly Support Change as Momentum Builds

TORONTO, April 18, 2017 /CNW/ - Courtenay Wolfe and Harrington Global Opportunities Fund Ltd., shareholders of Eco Oro Minerals Corp. (TSX: EOM) ("Eco Oro" or the "Company") who requisitioned the April 25, 2017 shareholders' meeting for the purpose of reconstituting the board of directors of the Company, set the record straight regarding the highly misleading press release issued by the Board of Eco Oro today, in which the Board incorrectly claims to have support of shareholders holding over 50% of the issued and outstanding shares.

The TRUTH is as follows:

  • The Company's projections in its press release include the 10,600,000 shares issued on March 16, 2017. We have challenged this issuance in a hearing held before the British Columbia Supreme Court last week and will do so at the hearing before the Ontario Securities Commission this week.

  • We have received overwhelming support from shareholders, such that confirmed votes in our favour significantly exceed the number of shares held by all insiders of the Company (including Amber Capital L.P., Paulson & Co. Inc., Trexs Investments, LLC (Tenor) and Anna Stylianides) if the 10,600,000 (or 9.98% of) shares invalidly issued on March 16, 2017 are excluded.

  • In the last few days, three of Eco Oro's top shareholders have come out to publicly support us and express opposition to the current Board. It is likely that Eco Oro's desperate press release was a reaction to this mounting pressure and an attempt to demotivate shareholders from voting for change.

  • While the vote results at the April 25, 2017 meeting will be close, we are confident that change will be achieved with your support.

It is now more important than ever to vote.

It is time for change. Please vote your BLUE proxy as soon as possible in light of the impending deadline of 5:00 p.m. (Toronto time) on Thursday, April 20, 2017.

Every vote is important to ensure we effect change. Time is running short, and we urge all shareholders to support our effort to enhance your investment in Eco Oro.

If you care about Eco Oro and the value of your common shares, vote for us TODAY or contact Kingsdale Advisors at 1-866-851-2484 toll-free in North America, or 1-416-867-2272 outside of North America, or by email at contactus@kingsdaleadvisors.com.

For further background on the reasons for the requisition and information regarding the need to fix the Company, please visit our website:

www.fixecooro.com

SOURCE Concerned Shareholders of Eco Oro Minerals Corp.

For further information: Courtenay Wolfe: courtenaywolfe@gmail.com; 416-505-8555


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