Eloro Resources (TSX: ELO) (OTCQX: ELRRF) (FSE: P2QM) today announced the inaugural mineral resource estimate (“MRE”) for the Iska Iska silver-tin polymetallic project in the Potosi Department of southwestern Bolivia. The MRE was prepared by independent qualified persons (“QPs”) with Micon International Limited as defined under National Instrument 43-101 (“NI-43-101”). According to the announcement, a technical report outlining the mineral resource estimation will be filed on Sedar within 45 days of the date of this release. “We are delighted with this initial MRE, which shows what a massive discovery Iska Iska is,” said Tom Larsen, CEO of Eloro. “The recent metallurgical work (see Eloro press release of July 26, 2023), particularly the positive ‘ore sorting’ results, has significantly enhanced the potential economics by substantially lowering the NSR cutoff, especially for the potential open pit where the bulk of the resource is located. The fact that this potential pit is 1.4km in diameter and extends to a depth of 750m below the Santa Barbara hill attests to the remarkable size of the Iska Iska mineralized system. The overall stripping ratio of 1:1 is very attractive. In the first years of the potential production from the near surface higher grade resource, the stripping ratio will be less than 1. Although the resource is classified as inferred, we are confident that further drilling will upgrade much of this to the indicated category. In addition, the metallurgical testing program was very extensive for this stage of the project but was felt to be necessary to confirm the economic potential. Additional planned metallurgical testing has the potential to further improve recoveries.”

To view the full press release, visit https://ibn.fm/bJTNK

About Eloro Resources Ltd.

Eloro is an exploration and mine development company with a portfolio of gold and base-metal properties in Bolivia, Peru and Quebec. Eloro has an option to acquire a 100% interest in the highly prospective Iska Iska Property, which can be classified as a polymetallic epithermal-porphyry complex, a significant mineral deposit type in the Potosi Department in southern Bolivia. A recent NI 43-101 Technical Report on Iska Iska, which was completed by Micon International Limited, is available on Eloro’s website and under its filings on SEDAR. Iska Iska is a road-accessible, royalty-free property. Eloro also owns an 82% interest in the La Victoria Gold/Silver Project, located in the North-Central Mineral Belt of Peru some 50 km south of Barrick’s Lagunas Norte Gold Mine and Pan American Silver’s La Arena Gold Mine.

NOTE TO INVESTORS: The latest news and updates relating to ELRRF are available in the company’s newsroom at https://ibn.fm/ELRRF

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