Eco Oro Shareholders Overwhelmingly Support the Reconstitution of their Board

Website www.fixecooro.com launched to provide shareholders with additional information

TORONTO, Feb. 27, 2017 /CNW/ - Courtenay Wolfe wishes to thank shareholders of Eco Oro Minerals Corp. (TSX: EOM) ("Eco Oro" or the "Company") for the overwhelming support received to date for the reconstitution of the board of directors of the Company.

"Since the announcement of our requisition, we've been contacted and approached by numerous investors of Eco Oro who have expressed similar concerns about the current board's lack of responsiveness and decisions that are not aligned with shareholder interests. The current leadership is squandering Eco Oro's potential by agreeing to give up 78% of the Company for minimal consideration. The anger and frustration of shareholders is much greater than we imagined. ?We encourage all shareholders to let your voices be heard and to join us to bring about needed change," Ms. Wolfe said. "It is clear that change is needed at Eco Oro and we look forward to achieving this alongside all shareholders."

For further background on the reasons for the requisition and information regarding the need to fix the Company, we would ask that you visit our website:

www.fixecooro.com

We will continue to update the website as our requisition proceeds and encourage shareholders to check frequently for new uncovered information. All relevant information from our website will also be posted on the Company's SEDAR profile at www.sedar.com. A copy of this press release can also be obtained at www.sedar.com. We would also invite you to review our press release of February 10, 2017, which is incorporated by reference and a copy of which can also be found on the Company's SEDAR profile at www.sedar.com.

Forward-Looking Statements

Certain statements contained in this press release constitute "forward-looking information" as such term is defined in applicable Canadian securities legislation. The words "may", "would", "could", "should", "potential", "will", "seek", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions as they relate to the intentions and success of Courtenay Wolfe and Harrington Global Opportunities Fund Ltd. (the "Requisitioning Shareholders") to reconstitute the board of directors of Eco Oro are intended to identify forward-looking information. All statements other than statements of historical fact may be forward-looking information. Such statements reflect the Requisitioning Shareholders' current views and intentions with respect to future events, and current information available to the Requisitioning Shareholders, and are subject to certain risks, uncertainties and assumptions. Material factors or assumptions that were applied in providing forward-looking information, include, but are not limited to, the support expressed by shareholders to the Requisitioning Shareholders, the outcome of the arbitration filed against the Government of Colombia and the current general regulatory environment and economic conditions. Many factors could cause the actual results, performance or achievements that may be expressed or implied by such forward-looking information to vary from those described herein should one or more of these risks or uncertainties materialize. Should any factor affect the Company in an unexpected manner, or should assumptions underlying the forward-looking information prove incorrect, the actual results or events may differ materially from the results or events predicted. Any such forward-looking information is expressly qualified in its entirety by this cautionary statement. Moreover, the Requisitioning Shareholders do not assume responsibility for the accuracy or completeness of such forward-looking information. The forward-looking information included in this press release are made as of the date of this press release and the Requisitioning Shareholders undertake no obligation to publicly update or revise any forward-looking information, other than as required by applicable law.

SOURCE Concerned Shareholders of Eco Oro Minerals Corp.