Eloro Resources Advances Iska Iska Acquisition with $1.5 Million Option Payment

Eloro Resources Ltd. (TSX.V: ELO) (OTCQX: ELRRF) (FSE: P2QM) has made a US$1.5 million option payment to Empresa Minera Villegas S.R.L., marking a pivotal step in its acquisition of the Iska Iska silver-tin polymetallic project in southern Bolivia. This payment is part of a revised US$10 million option agreement that includes a US$1.8 million credit for exploration work on the adjacent Mina Casiterita property. The agreement stipulates one final cash payment of US$1.15 million, due by January 6, 2026, to complete the acquisition. Additionally, Eloro must pay US$1.8 million within 12 months of securing mining rights for full ownership of Mina Casiterita and Mina Hoyada, alongside issuing 200,000 common shares upon property transfer, pending regulatory approvals.

The Iska Iska project, accessible by road and free of royalties, represents a significant opportunity for Eloro Resources. Classified as a polymetallic epithermal-porphyry complex, it is a notable mineral deposit type in the Potosi Department. A recent NI 43-101 technical report by Micon International Limited underscores the project's potential, available on Eloro’s website and SEDAR filings. This acquisition aligns with Eloro's strategy to bolster its portfolio of gold and base-metal properties across Bolivia, Peru, and Quebec, including its 82% stake in the La Victoria Gold/Silver Project in Peru.