Eloro Resources Revises Payment Terms for Bolivian Silver-Tin Project Acquisition

Eloro Resources Ltd. has announced amendments to the payment terms for acquiring full interest in the Iska Iska silver-tin polymetallic project in southern Bolivia, in agreement with Empresa Minera Villegas S.R.L. The revised terms include a credit of US$1.8 million for exploration spending on the adjacent Mina Casiterita property, with cash payments of US$1 million and US$1.65 million due in 2025 and 2026, respectively. This restructuring provides significant financial flexibility for Eloro as it advances one of Bolivia's most promising mineral projects.

The agreement for the Mina Casiterita and Mina Hoyada properties has been updated, requiring a US$1.8 million payment within a year of securing mining rights and the issuance of 200,000 Eloro shares upon property transfer. These amendments reflect the company's strategic approach to managing capital requirements while maintaining momentum in project development. The Iska Iska project, accessible by road and free of royalties, represents a significant opportunity in the Potosi Department, known for its rich mineral deposits including the famous Cerro Rico silver mountain.

Eloro's strategic adjustments to the payment schedule and adjacent property agreements underscore the company's commitment to advancing its exploration and development efforts in Bolivia. These changes not only facilitate the financial management of the project but also strengthen Eloro's position in the region's mining sector. The revised terms demonstrate the company's ability to negotiate favorable conditions that support long-term project viability while minimizing immediate financial pressure.

The importance of these amendments extends beyond immediate financial benefits, positioning Eloro to capitalize on Bolivia's growing mining potential. The Potosi Department has historically been one of the world's most productive silver regions, and the Iska Iska project's polymetallic nature adds significant value through tin and other base metals. The royalty-free status and road accessibility further enhance the project's economic attractiveness, making these revised payment terms crucial for maximizing shareholder value while advancing toward production.