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 commitment to securing this valuable 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 Mina Casiterita and Mina Hoyada. 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 investment 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. The Iska Iska project's potential is further detailed in a recent NI 43-101 technical report by Micon International Limited, available on Eloro's website and under its filings on SEDAR. This comprehensive technical assessment provides critical 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 significant participant in the mining industry's future developments. The acquisition represents a substantial investment in Bolivia's mineral-rich Potosi Department, known for its extensive mining history and geological potential. The project's polymetallic nature, combining silver and tin with other valuable metals, offers diversified commodity exposure that could provide substantial returns as global demand for these critical minerals continues to grow.

The transaction structure, combining cash payments, exploration credits, and share issuance, demonstrates sophisticated financial planning while ensuring compliance with regulatory requirements. The royalty-free status of the property adds significant value by eliminating future revenue-sharing obligations. As Eloro moves toward completing the acquisition, the company strengthens its position in South America's mining sector while building a foundation for long-term growth through strategic asset development and exploration advancement.