Eldora Resources - Buying and Selling Gold: Avoid Cash for Gold Scam Adverts

Eldora Gold Resources on Buying and Selling gold - If intending to buy or sell gold, then consider the need to analyse carefully cash for gold type adverts before selling gold to such a buyer.

It is important to research and evaluate each of the gold investment companies under consideration. There are many gold investment scams, fraud, boiler rooms that you should watch for, this will serve as a good warning before investing and only use gold options and companies that are verified, and have a good business reputation. This will minimize the risk of falling prey to any boiler rooms, scams or frauds.

The recent economic downturn has seen a plethora of TV adverts offering to buy gold for cash, the web has also seen a boom in the number of online gold traders in recent years. In many cases however, such TV commercials and online gold traders may only offer a fraction of the value of items, as well as poorer service levels than may be obtained from a reputable gold dealer or jewellery store.

Buying and Selling Gold: The Fair Value of Gold

Those offering a cash for gold service will usually be solely interested in the scrap value of the gold. As such, the fair value of the gold in this case should be assessed on the basis of weight and purity. In order to assess the value of a gold item, one must ascertain the weight of gold in an item. This is done by multiplying the weight of the gold in troy ounces by the purity of the gold.
For instance, two troy ounces of 12 carat gold, which is gold with a purity of 50 percent, would be valued as one troy ounce of pure gold. The value can then be obtained by simply finding the spot rate of gold on the day of valuation, which is quoted in troy ounces.

his however, is only the scrap value of gold. Most forms of gold have an added value through its inclusion in jewellery or as an item, such as a watch. This however, adds no value to the item for the scrap gold trader. If such an item is to be sold, then a much better value is obtainable from a specialist dealer in jewellery or from an auction.

Buying and Selling Gold: Common Scams and Problems

Many cash for gold adverts claim to offer “best prices paid”, in many cases this statement will simply be false. Such a claim can easily be verified by simply finding the spot rate of gold and comparing this to the rate offered by the potential buyer. Whilst it is unrealistic to expect to achieve the spot rate, a traders premium should not be excessive.
Cash for gold adverts often offer a free valuation with the prospect of returning one’s goods, if the offer is not accepted. However, one should check the terms and conditions to ensure that there are no hidden fees. Common hidden fees include charges for postage and packing or so called release fees to return one’s valuables.

Another area to consider is the treatment of an object. This is a special consideration, where items such as watches or jewellery are concerned, there is always a danger that sending away one’s valuables will result in damage to the item, should a return be required.
Finally, even where a scrap gold trader offers a fair price for the gold, in addition to acceptable terms and conditions, consider that one will not receive any value for the artistic or collectible value of a piece sold.

Eldora Gold Resources News: Gold regains 20k level on seasonal demand

 

Eldora Gold Resources Latest News: New Delhi, Gold prices regained Rs 20,000 per 10 gram level and silver rose to an all-time-high in the national capital on frantic buying by stockists and jewellers to meet ongoing festive and marriage season demand, amid a firm global trend.

As the gold prices rose by Rs 75 to Rs 20,000 per 10 gram, a level last seen on October 19, the silver spurted by Rs 200 to Rs 37,700 per kg, a level never seen before.

Trading sentiment turned extremely bullish after silver surged to 30-year high in overseas markets, as a weaker dollar increased the investment appeal of precious metals.

While the silver in overseas markets, which normally set a price trend on the domestic front here, rose 1.2 per cent to USD 25.05 an ounce, the highest level since March 1980 and gold to a two-week high by rising 0.2 per cent to USD 1,361.45 an ounce.

Buying activity further fuelled retailers and jewellers to buy for coming Diwali and Dhanterus, the two most auspicious days in Hindu mythology for making new purchases of precious metals.

Eldora Gold Resources News: Gold regains 20k level on seasonal demand - On the domestic front, the gold of 99.9 and 99.5 per cent purity rose by Rs 75 each to Rs 20,000 and Rs 19,900 per 10 gram, respectively. Sovereign also gained Rs 50 to Rs 15,950 per piece of eight gram.

Silver ready spurted by Rs 200 to an all-time high of Rs 37,700 per kg and weekly-based delivery by Rs 240 to Rs 37,295 per kg.

Eldora Gold Resources News: Gold regains 20k level on seasonal demand - Silver coins spurted by Rs 620 to a new peak level of Rs 42,500 for buying and Rs 43,000 for selling of 100 pieces. The silver coins normally used for worshipping on Diwali, witnessed maximum buying.

 Eldora Gold was founded by a group of experts in the mineral recovery and mining industry, whose focus is to provide accurate information, state of the art equipment and outstanding customer service. There are 3 core founders, each with a unique and extensive background.

The President has been involved in technical sales and engineering for over 25 years holding 5 certificates in ferrous metallurgy and is a member of the Society of Manufacturing Engineers. He also brings with him and extensive manufacturing background and a strong sales history specializing in the technical sales of Eldora Gold Resources Canada’s tailings processing service along with the Property Evaluation service.

Our Chief Geologist has been a consultant/contractor in the mining exploration industry for over 20 years and holds a BSc In Geology from McMaster University. With extensive mining and database experience from projects worldwide, his client list is very extensive and includes some of the top names in the mining industry. Specializing in Property Evaluation using Eldora Gold Resources Canada’s data analysis process he offers accurate property reports using the latest technology.

Further Gold gains hinge on new wave of US money printing: Eldora Gold Resources News

Eldora Gold Resources Canada News: by Rod Myer. GOLD is a barometer of the financial system. When all else looks shaky, investors tend to buy the yellow metal as a last-resort store of value based on human instincts formed over thousands of years. And also, of course, based on the experience of gold holding up in the really tough times.

The Australian Technical Analysts Association's Victorian president, Paul Ash, has been watching gold closely of late. He notes the precious metal has been on a strong upward trend since hitting a low point of $US1160 an ounce on July 28.

After that it rose 19 per cent to peak on October 15. It then dropped to $US1320, a 4.4 per cent retracement. Over the past fortnight it seemed to be locked in a trading range between $US1320 and $US1346. But last Friday it broke out of that range and Ash believes it could be headed back to $US1381.

The fate of gold, he believes, will depend on how the US dollar is seen by the market in relation to the ''quantitative easing'' signaled to come this week from the US Federal Reserve.

Quantitative easing occurs when the Fed buys back its own securities for cash, something that investors see as in effect printing money. The bigger the easing, Ash says, the weaker the US dollar will get.

Ash sees the chart above as indicating that recent currency trends will continue. The US dollar will keep falling and the big net-exporting countries like China and Japan will continue to build their reserves of the greenback.

Eldora Gold Resources Canada News: All that paints a bullish picture for gold. Ash says the price retracement since gold hit its October high was weak, which in turn indicates that the upward trend for the metal remains strong. But the situation, as always, is volatile.

If the upward trend continues to hold then the bullish outlook will remain. But if gold breaks below $US1320, it could be headed as low as $US1260.

 Eldora Gold was founded by a group of experts in the mineral recovery and mining industry, whose focus is to provide accurate information, state of the art equipment and outstanding customer service. There are 3 core founders, each with a unique and extensive background.

The President has been involved in technical sales and engineering for over 25 years holding 5 certificates in ferrous metallurgy and is a member of the Society of Manufacturing Engineers. He also brings with him and extensive manufacturing background and a strong sales history specializing in the technical sales of Eldora Gold Resources Canada’s tailings processing service along with the Property Evaluation service.

Our Chief Geologist has been a consultant/contractor in the mining exploration industry for over 20 years and holds a BSc in Geology from McMaster University. With extensive mining and database experience from projects worldwide, his client list is very extensive and includes some of the top names in the mining industry. Specializing in Property Evaluation using Eldora Gold Resources Canada’s data analysis process he offers accurate property reports using the latest technology.

Barrick Gold Achieves Record Q3 Profit as Gold Prices Rise: Eldora Gold Resources News

Eldora Gold Resources Canada News - Barrick Gold (NYSE:ABX), the world's largest producer of the yellow metal, posted a record profit for the third quarter, as lower-than-expected cash costs and higher gold prices boosted overall production.

During the period, the company recorded net income of $837 million, or $0.85 per share, from a loss of $5.4 billion, or $6.07 per share, in the year-ago quarter, when the company had $5.7 billion in charges related to the elimination of its gold hedging program.

Adjusted for one-time items, profits rose 75% to $829 million in the third quarter, or $0.84 per share, beating analyst expectations of $0.76 earnings per share.

Sales also jumped 40% to $2.8 billion in the period, compared to $2.0 billion a year earlier.

Eldora Gold Resources Canada News - Barrick said that its better-than-expected results were primarily a result of the company's third quarter gold production of 2.06 million ounces, ahead of target on account of lower total cash costs of $454 per ounce, and strong performance at its new Cortez Hills mine in the North American region.

In a statement, the company said its cash margins have reaped the benefits of rising gold prices and lower cash costs, increasing 52% to $783 per ounce. The realized gold price for the quarter was $1,237 per ounce, 27% higher than the prior year period.

Full year gold production is on track, Barrick added, expecting between 7.65 to 7.85 million ounces of gold at total cash costs of about $455 per ounce. It also anticipates producing about 360 million pounds of copper at total cash costs of $1.10-$1.15 per pound, in line with the original guidance.

Eldora Gold Resources Canada News - The giant gold producer expects that its Pueblo Viejo project in the Dominican Republic will begin initial production in the fourth quarter of 2011, while its Pascua-Lama property on the border of Chile and Argentina is on track to enter production in the first quarter of 2013. The company is targeting growth in gold production to 9.0 million ounces annually within five years once both these project come onstream, it said.

Based on the third quarter results, Barrick announced that its board has authorized a 20% increase in fourth quarter dividends to $0.12 per share. At quarter-end, the company had a whopping $4.3 billion in cash and $1.5 billion in undrawn credit, with $3.1 billion in net debt.

Barrick, from its properties across North and South America, Africa and the Australia Pacific regions, has gold reserves of 139.8 million ounces, plus measured and indicated gold resources of 61.8 million ounces and inferred gold resources of 31.6 million ounces.

Eldora Gold Resources Canada News - The company's closing price yesterday was $46.94, up from its 52-week low of $36.01.

Disclosure: No position. About the author: Proactive Investor . Proactiveinvestors is a group of financial websites producing news, comment and analysis, and interviews covering a wide range of subjects across North America, Europe, Asia and Australia. 

Using Gold to Monitor Market's Reaction to QE2: Eldora Gold Resources News

Eldora Gold Resources Canada News- a Wall Street Journal article today on quantitative easing (QE) hints the Fed will take a middle of the road approach in terms of the size and duration of QE2. As we would expect, the stock and commodity markets’ initial reaction is negative. A middle of the road approach to QE seems counter intuitive to the Fed’s own historical analysis of why quantitative easing was ineffective in Japan. In CCM’s July 2010 review of James Bullard’s Seven Faces of “The Peril,” our read between the lines interpretation of Bullard’s take on QE included:

In order for quantitative easing to sufficiently increase future inflation expectations, market participants must believe the Fed will do “whatever it takes for as long as necessary” to obtain the objective of sufficiently positive inflation. This means the Fed must be willing to leave balance sheet expansion in place for as long as necessary to create expectations of higher future inflation by market participants (consumers, investors, companies, etc.). This reminds us of past “bazooka-like” policy moves, where policymakers would say, “You think we can’t create positive inflation? Just watch.

Eldora Gold Resources Canada News- The key to next week’s Fed statement on quantitative easing will be how they address the concept of “whatever it takes for as long as necessary.” We can use gold and the US dollar to monitor the market’s reaction to QE2 and the stock market. On October 11th in U.S. Dollar Could Rally In Coming Weeks, we hypothesized QE2 could be a “buy the rumour, sell the news event” relative to risk assets. Since October 11th, the dollar index has moved from 77.18 as high as 78.36; a move above 78.36 would increase the odds of the US dollar having a multi-week countertrend rally.

On October 13th with the S&P trading at 1,169, we listed 1,196 as a possible short-term upside target. The S&P 500’s intraday high on October 25th was 1,196, which means we have entered a zone where the odds of a short-to-intermediate-term reversal have increased (emphasis on odds). Stock market breadth on October 26th was weak, adding to the list of concerns over the next few days.

Eldora Gold Resources Canada News- We recently mentioned some yellow flags in the gold market. Thus far, gold is holding up well enough that a push to new highs still could be in the cards. From a short-term bearish perspective, a break of the thin blue trend line below would increase our concerns about a correction in gold. The long-term fundamentals for gold remain sound.

As we monitor gold, QE and the dollar, we must also consider the possible impact on "weak dollar assets" such as gold, silver, copper, oil, agricultural commodities, Australian dollar, Canadian dollar, and emerging markets.

Video: What Is Quantitative Easing?

Eldora Gold Resources Canada News- In parts three of our six part series on quantitative easing, we examine Fed statements, writings, and publications related to the objectives of, and rationale behind, QE2. The analysis of some key Fed commentary on quantitative easing allows us to better understand the Fed’s perspective relative to QE’s possible impact on the financial markets, investing, the economy, interest rates, asset prices, and the wealth effect. Today’s quantitative easing video also touches on the following:

• Duration of QE program
• Consumption
• Investment
• Ben Bernanke’s “printing press” speech
• US dollar devaluation
• Fiat / paper money system
• Spending
• Inflation
• Dividend-paying securities (video link below)

Disclosure: Author long GLD, UDN, SLV, JJC, DBA, FXA and EEM

About the author: Chris Ciovacco. Chris began his investment career with Morgan Stanley in Atlanta in 1994. With a focus on global macro investing, Chris uses both fundamental and technical analysis to assist in managing risk while looking for growth opportunities around the world in all asset classes.

More Reasons to Be Bullish on Silver: Eldora Gold Resources News

Eldora Gold Resources Canada News - We once had an ongoing series in BIG GOLD called, "1001 Reasons to Own Gold." The idea was that there were so many valid reasons to own the metal that I wanted to track and report on them. If you've been invested in the precious metals arena, you know there have been a myriad of bullish indicators for silver this year as well.

Here are a couple new reasons to own silver that a lot of mainstream investors probably aren't aware of…

Due to increased demand from industry and investors, silver exports from China are expected to drop about 40% this year. And that's actually an improvement; customs data show exports plunged almost 60% through the first eight months. China exported about 3,500 metric tons of silver in 2009, but has exported only 970 tons through August of this year.

Eldora Gold Resources Canada News - What a lot of Westerners don't know is that China ended export "rebates" two years ago to stem the shipment of natural resources leaving the country. As a result of the regulation, silver exports decreased in 2009 but are nothing like what they're experiencing this year. In other words, the large drop in exports is a direct result of a huge increase in demand within China itself. According to one Chinese banker, the spike in demand is coming from all areas – jewellery, investment, and industrial. In his words, it's led to a "physical market shortage in the Far East."

How important is this? China is the world's third largest producer of silver (after Peru and Mexico), so the amount of silver coming to the global marketplace this year will drop by more than 74 million ounces. This represents roughly 8.3% of total annual global supply from 2009. If worldwide demand continues at its current pace, where is the extra metal going to come from? This alone tells us the price of silver will move higher.

Eldora Gold Resources Canada News - The next item I sleuthed out was that the US Mint is expected to release a new five-ounce silver bullion coin this year, the first ever. The coin will be three inches in diameter and have a composition of .999 fine silver.

I've read the five-ounce bullion coins will be near-exact replicas of the America the Beautiful quarters. There will reportedly be five different designs, and the mint plans to produce 100,000 of each. I can't wait to see them.

The coins will be classified as bullion, meaning they should be available to the same dealers already authorized by the mint. This will likely create excitement in the silver market, especially when you consider its affordability. At $23 silver, the five-ounce bullion coin will cost $115, plus premium. One ounce of gold runs $1,340 as I write, while five ounces will cost you $6,700 plus commission.

Eldora Gold Resources Canada News - Perhaps most bullish is the fact that silver is vastly underpriced when compared to gold. Look at it this way: gold is currently priced 57% above its 1980 nominal high of $850; silver would have to more than double to reach its 1980 nominal high of $48.70. And that's excluding any inflation-adjusted calculation. Yes, silver's spike was partly a direct result of hoarding by the Hunt Brothers, but my question to the sceptics is this: what's keeping us from seeing similar stockpiling today? What if there are several Hunt Brothers out there?

It's true that central banks don't buy and store physical silver, so one source of demand that's common for gold isn't present for silver. But let's keep things in perspective: demand for all forms of silver is rising, and we see no reason the trend won't continue. And with indicators like decreasing supply from China and increased attention from a new bullion coin, I say the big picture on the silver price is extremely bullish.

This silver sleuth says; buy some silver on the next dip. There are lots of reasons you won't regret it.

Disclosure: No position. About the author: Jeff Clark is Editor of BIG GOLD and Explorers’ League at Casey Research (http://www.caseyresearch.com).

Eldora Resources - How to Avoid Scams when Buying Gold and Silver Coins

Know Your Dealer, Resist Deals Too Good to Be True and Avoid Collectable Coins

It is important to research and evaluate each of the gold investment companies under consideration. There are many gold investment scams, fraud, boiler rooms that you should watch for, this will serve as a good warning before investing and only use gold options and companies that are verified, and have a good business reputation. This will minimize the risk of falling prey to any boiler rooms, scams or frauds.

With the rise of gold and silver coins as a hedge against inflation, more people are looking to add precious metals to their savings. However, there are many scam artist ready to take advantage of new buyers. Here's how to protect yourself.

Avoid collectable coins
When you start to buy gold and silver coins, some disreputable dealers will try to sell you collectable gold and silver coins. Usually, these coins cost 50% to 100% over spot. If you are interested in buying silver and gold coins as an investment, then you shouldn't bother with collector coins. And you should not be paying more than 30% over spot price, per ounce.

Avoid people who offer "too good to be true" deals on gold and silver
There is no such thing as a deal when it comes to gold and silver coins. You can not buy a gold nor silver coin for just spot price. And you certainly can not buy a silver or gold coin for under spot price. Anyone who tries to sell you a gold or silver coin for close to spot price is trying to rip you off. Avoid them.

Avoid buying coins on eBay if you are not an expert on detecting fake coins
eBay has many reputable dealers. However, there are many fraud coins on eBay. You are better off avoiding this market. If the gold and silver market becomes overheated, you may find that many dealers will be out of coins. And that the only place that you may find gold or silver coins will be on eBay. Your best move is to simply wait until the coins come back into stock at a reputable dealer. If you end up buying a fake coin on eBay, or get stiffed, you will have a hard time getting your money back.

Stick to U.S. Liberty Eagle Gold and Silver coins if you are new at buying gold and silver coins

There are many fraud gold and silver coins out there. The majority of fake gold and silver coins come from Asia. You can reduce your chance of buying a fake coin by sticking to U.S. Liberty Eagle Gold and Silver coins. Why? Because these are the only coins minted by the United States. And counterfeit gold and silver Liberty coins are investigated by the Secret Service. That makes it more advantageous for criminals to stick to faking non-US gold and silver coins. Yes, you will pay a little more for U.S. Liberty Eagle gold and silver coins, but it will be worth it.

Avoid buying coins at pawn shops if you are not a powerful negotiator
Pawn shop dealers are masters at buying low and selling high. If you are a new gold and silver buyer and you walk into a pawn shop, you will be like a sheep walking into a den of wolves. You are better off to sticking to large gold and silver dealers who have a set above spot price on their coins.

There are many great places where you can safely buy gold and silver coins. My two recommendations are APMEX and Apmex.com and bulliondirect.com. Both companies have been around for over a decade and have a long track record with many long term gold and silver buyers and sellers. With the right kind of research, you will be able to find the best dealer for you to buy and sell gold and silver coins.

Eldora Gold Resources News - Correction in Precious Metals Likely to Set Stage for Further Run Ups

Eldora Gold Resources Canada News - China is the world’s largest producer of gold, but it has plenty of other precious metals and rare minerals as well. Some in the world are already worried about so much power concentrated in one place.

A Bloomberg Report this week stated that silver exports from China, one of the world's largest, may drop about 40 percent this year as domestic demand from industry and investors climbs. China is the third-largest producer after Peru and Mexico. It is expected that reduced exports will boost prices. Industrial applications for silver, including electrical conductors and batteries, represent about half global demand. Silver has rallied 44 percent this year, outperforming gold and copper.

Eldora Gold Resources Canada News - In addition, China, which has been blocking shipments of crucial minerals to Japan for the last month, has also halted some shipments to the United States and Europe. These rare earth minerals are crucial to manufacturing many advanced products such as radar, cell phones, high-powered magnets and mini-hard drives in laptop computers. China’s control of them and its willingness to flex its economic muscles seem certain to further intensify trade and currency tensions. The bad news is China mines 95 percent of the world’s rare earth elements. If restriction on exports of these minerals continues, it could force multinational companies to produce more of their high-technology goods in China.

Speaking of mining, let's take a look at the long-term XAU chart. The XAU (gold and silver stocks index) Index failed to break into new highs - as visible on the very-long-term chart above. Although we see it presently at a declining support level, we don't expect this level to hold given declining gold, silver and stock prices.

Eldora Gold Resources Canada News - Support levels such as the lower border of the trading channel, previous local tops, and multi-year support levels are also in play. The declining, short-term trend line has been broken recently most likely due to the USD Index rally. The area around the 170 level appears to be the probable bottom for the current decline.

In a recent Market Alert sent to our Subscribers, we discussed the possibility for Traders to bet on lower prices using options. Lower prices in mining stocks may be the way to go due to their lower volatility. Their close trading range has caused a decline in option premiums.

Eldora Gold Resources Canada News - In the research section of Sunshine Profits website, Predicting and Taking Advantage of Corrections in Gold is an essay, which is perfect for our current situation. Options traders should be sure not to miss this instructive piece.

Summing up, it is likely that mining stocks will eventually rally but we will probably first see a corrective period. Lower prices are likely to be seen in the short-run with a rally to follow perhaps before the end of the year.

Disclosure: No positions

About the author: Przemyslaw Radomski. Przemyslaw Radomski is the founder, owner and the main editor of SunshineProfits.com. Being passionately curious about the market’s behaviour he uses his statistical and financial background to question the common views and profit on the misconceptions.

Eldora Gold Resources News - Willow Creek Signs LOI to Acquire Historic Gold Property in Prestigious Walker Lane, Nevada

Eldora Gold Resources Canada News-Willow Creek Enterprises Inc. (OTCBB: WLOC) ("The Company," "Willow Creek") Willow Creek is pleased to announce that it has signed a Letter of Intent to acquire the Hercules property from Minquest, which is located in the prestigious Walker Lane Mineral Belt in Nevada, USA.

The historic Walker Lane Mineral Belt, western Nevada, is a highly mineralized trend that contains several world-class epithermal precious metals deposits, such as: the Comstock Lode (estimated production of 8.6 million ounces of gold and 192 million ounces of silver), Round Mountain (Barrick / Kinross)(over 10 million ounces of gold produced since 1906), Rawhide, Aurora, Goldfield mines, as well as porphyry copper deposits: Yerington (1.75 billion pounds of copper produced from 1953-1978 by Anaconda Copper Company),

Eldora Gold Resources Canada News - The Hercules property gives Willow Creek (OTCBB: WLOC) access to one of the most prolific mining areas in the world. According to a report made by Global Geological Consultants (GGC)* in 2003, The Hercules prospect has direct analogies to the historic Comstock Lode deposit, which is located less than 10 miles to the north. While the Comstock Lode produced approximately $670,000,000 worth of gold and silver from 1860 to 1880, the Hercules Mine, located on the "Hercules" property, is estimated to have produced 5,000 oz of gold and 20,000 oz of silver during early, turn-of-the-century mining efforts. In more recent years, modern exploration has been conducted on the property by companies such as Pioneer Mining Corporation, Phelps Dodge Corporation, and Horizon Gold. The GGC* report further states that the potential for the discovery of thicker, mineralized veins within the Hercules is very good, and that recommended drill tests could identify a deep-seated mineralized deposit for which the Walker Belt is known. Further support for exploration of the Hercules was given by Joseph Tingley** in an annual compilation of major precious metal deposits in Nevada, where he noted a resource for the Hercules deposit of approximately 260,000 oz of gold and 1,950,000 oz of silver.

"The company believes the Hercules property contains one of the most significant untested Comstock-type vein systems in the Western United States. With gold prices hovering well over $1,300.00 an ounce, and silver prices steadily climbing, the Hercules property offers a tremendous opportunity to our shareholders as we move forward," stated Terry Fields, President Willow Creek.

Eldora Gold Resources Canada News - Management believes that in addition to its proximity to other major discoveries, the Hercules' physical location makes it an ideal property for exploration and development. Existing infrastructure, including manpower and accessibility for the Hercules property, is supported by the nearby city centers of Reno and Carson City. State highways and paved roads provide easy access, while moderate temperatures allow for year-round physical work on the property. As we approach the colder months, this physical attribute will allow us to continue our work as many others are forced to shut down their operations until the spring.

Political support for the mining industry enjoyed by the state of Nevada was another determining factor for management when selecting the Hercules property. Favorable laws, positive safety regulations, and the lack of political unrest seen in many other parts of the world are among the main reasons that Nevada's gold production accounted for more than 79% of total U.S. production and 7.2% of the world's gold production in 2009 (Economic Overview of Nevada's Mineral Industry report; Nevada Mining Association). Nevada State Geologist and Director of the Nevada Bureau of Mines and Geology Jonathan Price recently stated that Nevada is still in its biggest mining boom, one that produced more than 200 million ounces of gold in Nevada from 1981 to last year. With the addition of the Hercules prospect to our portfolio of properties, Willow Creek (OTCBB: WLOC) hopes to contribute to Nevada's production numbers in the years to come.

* Summary Report and Exploration Proposal on the Hercules Gold Prospect. Lyon Nevada, published January 24, 2003 by Geoffrey Goodall, P. Geo

** Nevada Bureau of Mines and Geology - Special Publication MI-2005

Eldora Gold Resources Canada News - This news release contains "forward-looking statements", as that term is defined in section 27a of the United States Securities Act of 1933, as amended, and section 21e of the United States Securities Exchange Act of 1934, as amended. Statements in this news release, which are not purely historical, are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, except for the historical information presented herein, matters discussed in this news release contain forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Statements that are not historical facts, including statements that are preceded by, followed by, or that include such words as "estimate," "anticipate," "believe," "plan" or "expect" or similar statements are forward-looking statements. Risks and uncertainties for the company include, but are not limited to, the risks associated with natural resource exploration and development and needs for funding as well as the risks shown in the company's most recent annual report on form 10-k and on form 10-q and from time-to-time in other publicly available information regarding the company. Other risks include risks associated with the regulatory approval process, competitive companies, future capital requirements and the company's ability and level of support for its exploration and development activities. There can be no assurance that the company's development efforts will succeed and the company will ultimately achieve commercial success. These forward-looking statements are made as of the date of this news release, and the company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the company believes that the beliefs, plans, expectations and intentions contained in this news release are reasonable, there can be no assurance those beliefs, plans, expectations or intentions will prove to be accurate. Investors should consider all of the information set forth herein and should also refer to the risk factors disclosed in the company's periodic reports filed from time-to-time with the United States Securities and Exchange Commission.

This news release has been prepared by management of the company who takes full responsibility for its contents. Finra, the sec and the OTCBB neither approves nor disapproves the contents of this news release. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor there would any sale of these securities in any jurisdiction in which such offer solicitation or sale are unlawful prior to registration or qualification under the securities laws of any such jurisdiction.