Notice of AGM

El Oro Ltd

9 October 2012

El Oro Ltd. ("the Company") Registration No: 49778

NOTICE IS HEREBY GIVEN that the Company's FOURTH ANNUAL GENERAL MEETING and the ONE HUNDRED AND EIGHTH ANNUAL GENERAL METING OF THE EL ORO GROUP will be held on 15 November 2012 at 41 Cheval Place, London SW7 1EW at 12 noon for the following purposes:

Ordinary resolutions:

1) To receive the Directors' report and the consolidated financial statements for the year ended 30 June 2012.

2) To re-appoint PricewaterhouseCoopers CI LLP as Auditor of the Company, to hold office until the conclusion of the next General Meeting at which accounts are laid before the Company and to authorise the Directors to fix their remuneration.

3) To authorise the payment of a final dividend of 3.5 pence for the year-ended 30 June 2012.

4) To authorise the company generally and unconditionally to make market purchases within the meaning of Section 315 of the Companies (Guernsey) Law 2008, the authority for market acquisitions set forth in Article 4.7 of the Company's Articles of Incorporation be approved and restated on the basis that of its Ordinary Shares in the capital of the Company ('Shares') upon or subject to the following conditions:

·; the maximum of Shares hereby authorised to be purchased is 6,465,734

·; the maximum price at which Shares may be purchased shall be 5% above the average of the middle market quotations for the Shares as taken from the Channel Islands Stock Exchange Official List for the five business days preceding the date of purchase and the minimum price shall be 5 pence per share, in both cases exclusive of expenses; and

·; the authority to purchase conferred by this Resolution shall expire on the date falling eighteen months after the date of this Resolution or at the conclusion of the next Annual General Meeting of the Company after the passing of this Resolution, save that the Company may before such expiry enter into a contract of purchase under which such contract may be completed or executed wholly or partly after the expiration of this authority.

The Board recommends that Shareholders vote in favour of all Resolutions.

The Company's Share Price can be found at www.cisx.com and also on SETSqx [ticker - ELX].

For further information, please contact:

C Robin Woodbine Parish: Chairman

El Oro Ltd www.eloro.com 020 7581 2782

Robin Woodbine Parish, Chairman

Steven McKeane

Dexion Capital (Guernsey) Limited 01481 732814

Gillian Newton

Registered address: 1 Le Truchot, St Peter Port, Guernsey GY1 1WD

End of announcement