Eloro Resources Advances Iska Iska Acquisition with $1.5 Million Payment

Eloro Resources Ltd. has progressed in its acquisition of the Iska Iska silver-tin polymetallic project in southern Bolivia by making a US$1.5 million option payment to Empresa Minera Villegas S.R.L. This payment represents a critical milestone in the US$10 million option agreement that includes a US$1.8 million credit for exploration work on the nearby Mina Casiterita property. The company must complete the acquisition by making one final cash payment of US$1.15 million by January 6, 2026, demonstrating its long-term commitment to securing this valuable mineral asset.

Under the amended terms of the agreement, Eloro must also pay US$1.8 million within 12 months of obtaining mining rights to secure full ownership of both Mina Casiterita and Mina Hoyada properties. Additionally, pending regulatory approvals, the company will issue 200,000 common shares upon the transfer of the property, further solidifying the transaction's completion. The Iska Iska project is recognized as a significant polymetallic epithermal-porphyry complex in the Potosi Department, accessible by road and free of royalties, making it an exceptionally attractive mining opportunity.

The acquisition underscores Eloro Resources' strategic commitment to expanding its portfolio of gold and base-metal properties, which includes projects in Bolivia, Peru, and Quebec. This expansion positions the company for significant growth in the mining sector. The Iska Iska project's potential is thoroughly detailed in a recent NI 43-101 technical report by Micon International Limited, available on Eloro's website at https://www.elororesources.com and under its filings on SEDAR at https://www.sedar.com. This comprehensive technical assessment provides crucial validation of the project's mineral potential and economic viability.

This strategic move not only enhances Eloro's asset base but also positions the company as a key player in the mining industry's future developments. The acquisition represents a substantial investment in Bolivia's mineral-rich regions and demonstrates confidence in the long-term potential of polymetallic deposits. The project's location in the Potosi Department, known for its rich mining history, adds significant geological credibility to the investment. The absence of royalties further enhances the project's economic attractiveness, potentially leading to higher profit margins and improved returns for stakeholders.