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 step 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 faces one final cash payment of US$1.15 million by January 6, 2026, to complete the acquisition process and secure control over this significant mineral property.

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. 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 attractive long-term investment for the company.

The acquisition underscores Eloro Resources' commitment to expanding its portfolio of gold and base-metal properties, which includes projects in Bolivia, Peru, and Quebec. The strategic importance of this move is detailed in the recent NI 43-101 technical report by Micon International Limited, available on Eloro's website and under its filings on SEDAR. This acquisition not only enhances Eloro's asset base but also positions the company as a key player in the mining industry's future developments, particularly in the growing silver-tin polymetallic sector.

The Iska Iska project's potential as a major mining operation represents a substantial opportunity for Eloro Resources to establish itself as a significant producer in the global mining market. The company's systematic approach to acquisition, combined with the technical validation provided by independent reports, demonstrates a comprehensive strategy for long-term growth and value creation for shareholders. This strategic positioning comes at a time when global demand for silver and tin continues to show strength across multiple industrial applications.