Zoloto Resources Ltd. with gold milling operations in Ecuador has expanded its operations into the Oil and Gas industry in Ecuador. The company has agreed to enter into a joint venture with an Ecuadorian company where it will supply technology and equipment necessary to enhance flow rates by as much as 3 times and increase oil recovery percentages in existing reservoirs by 100%. The technology will also increase initial flow rates in new ventures as well as increase the recoverable reserves.

The company will acquire interests in existing proven oil and gas reserves reserves as well as participating in new oil and gas ventures. The company will continue with its milling operations in Ecuador. Its mill has the capacity to produce 100 tons of ore per day.

Current production is through contract milling with independent miners. The company is projecting 45 tons of ore per day with an average head grade of 5 gms of gold per ton in the second quarter. Expanding the operations of the company by adding a oil and gas division will diversify its cash flow.