Eloro Resources' Final Payment to Acquire the Iska Iska Silver-Tin Polymetallic Project, Potosi Department, Bolivia Deferred for One Month

Rhea-AI Summary

Eloro Resources (OTCQX:ELRRF, TSX:ELO) announced that the final option payment to acquire a 100% interest in the Iska Iska silver‑tin polymetallic project has been mutually deferred by one month to February 6, 2026 to allow completion of closing documentation with Empresa Minera Villegas.

The company noted it completed a $14 million financing in September and recent warrant exercises, and said it is well funded to make the final payment and advance the next stage of exploration and development at Iska Iska.

Positive

• $14 million financing completed in September
• Company reports being well funded after recent warrant exercises
• Payment will secure 100% interest in Iska Iska upon completion

Negative

• Final option payment deferred one month to February 6, 2026

TORONTO, ON / ACCESS Newswire / January 6, 2026 / Eloro Resources Ltd. (TSX:ELO)(OTCQX:ELRRF)(FSE:P2QM) ("Eloro", or the "Company") announces that, by mutual agreement with 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"), the final payment required for Eloro to earn a 100% interest in Iska Iska has been deferred by one month to February 6, 2026, to allow for the completion of the required closing documentation.

Further to the completion of a $14 million financing last September and the recent exercises of warrants, the Company is well funded to complete its final Iska Iska option payment and advance the next stage of exploration and development.

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 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 the Lagunas Norte Gold Mine and the La Arena Gold Mine.

For further information please contact either Thomas G. Larsen, Chairman and CEO or Jorge Estepa, Vice-President at (416) 868-9168.

Information in this news release may contain forward-looking information. Statements containing forward-looking information express, as at the date of this news release, the Company's plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and are believed to be reasonable based on information currently available to the Company. There can be no assurance that forward-looking statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements. Readers should not place undue reliance on forward-looking information.

Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.

SOURCE: Eloro Resources Ltd.

View the original press release on ACCESS Newswire

FAQ

What change did Eloro announce about the Iska Iska final payment (ELRRF)?

Eloro said the final option payment to earn 100% interest in Iska Iska was deferred one month to February 6, 2026.

Why was Eloro's Iska Iska payment deferred to February 6, 2026 (ELRRF)?

The payment was deferred by mutual agreement to allow completion of the required closing documentation with Minera Villegas.

Does Eloro have funds to complete the Iska Iska option payment (ELRRF)?

Yes; Eloro completed a $14 million financing in September and reported recent warrant exercises, saying it is well funded to complete the payment.

What happens after Eloro completes the Iska Iska final payment (ELRRF)?

Upon payment, Eloro will earn a 100% interest in Iska Iska and plans to advance the next stage of exploration and development.

Who holds title to the Iska Iska project involved in Eloro's transaction (ELRRF)?

The title holder named in the agreement is Empresa Minera Villegas S.R.L.