Eloro Resources Makes a US$1.5 Million Option Payment for the Iska Iska Silver-Tin Polymetallic Project, Potosi Department, Bolivia

Toronto Star

a day ago

TORONTO, July 21, 2025 (GLOBE NEWSWIRE) — Eloro Resources Ltd. (TSX: ELO; OTCQX: ELRRF; FSE: P2QM) ('Eloro', or the 'Company') is pleased to announce that it made a US$1,500,000 option payment to Empresa Minera Villegas S.R.L. ('Minera Villegas'), the title holder of the Iska Iska silver-tin polymetallic project in the Potosi Department, southern Bolivia ('Iska Iska'), leaving a final cash payment of US$1,150,000 due on January 6, 2026.
Pursuant to the amended terms of the option agreement to acquire Iska Iska, the payment schedule for the aggregate US$10,000,000 payment required for Eloro to earn a 100% interest in Iska Iska, includes a credit for the US$1,800,000 incurred by the Company in exploration expenditures on the adjacent Mina Casiterita property, which will be applied towards the Mina Casiterita / Mina Hoyada option agreement, as amended (see Eloro's press releases dated November 22, 2022 and June 30, 2025). In order to earn a 100% interest in the Mina Casiterita / Mina Hoyada properties, the Company is required to make a cash payment of US$1,800,000 within 12 months from the date on which the mining rights for Mina Casiterita and Mina Hoyada are duly obtained and, subject to all required regulatory approval, issue the titleholder 200,000 common shares of the Company when the transfer of the properties is completed.