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

Eloro Resources Ltd. (TSX.V: ELO) (OTCQX: ELRRF) (FSE: P2QM) has taken a significant step toward acquiring 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 is part of a US$10 million option agreement that includes a US$1.8 million credit for exploration work on the nearby Mina Casiterita property. The acquisition process is set to conclude with a final cash payment of US$1.15 million by January 6, 2026.

The amended terms of the agreement also stipulate that Eloro must 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. This strategic move underscores Eloro's commitment to expanding its portfolio of gold and base-metal properties, which includes projects in Bolivia, Peru, and Quebec.

The Iska Iska project is accessible by road and is royalty-free, making it an attractive investment for Eloro Resources. A recent NI 43-101 technical report by Micon International Limited has classified Iska Iska as a polymetallic epithermal-porphyry complex, a significant mineral deposit type in the Potosi Department. This classification highlights the project's potential to contribute significantly to the mining sector and Eloro's growth strategy.

For more details on the acquisition and Eloro Resources' portfolio, visit https://ibn.fm/uhxYR.