Eloro Resources Announces RSU Grants
Eloro Resources Announces RSU Grants
Toronto, Canada, January 19, 2022 – Eloro Resources Ltd. (TSX-V: ELO; OTCQX: ELRRF;
FSE: P2QM) (“Eloro”, or the “Company”) announces it has granted an aggregate of 2.35 million
restricted share units (the “RSUs”) to its senior officers and key consultants, pursuant to the
Company’s RSU plan (the “Plan”).
The Plan aims to compensate and reward its key officers and consultants for working towards
the Company’s long-term objectives and in alignment with the shareholders’ best interests. All of
the RSUs granted cannot be settled until December 31, 2025 (the “Redemption Date”) and are
subject to the following performance related vesting milestones in connection with the
advancement of the Company’s Iska Iska silver-tin polymetallic project:
one-third to vest on the date of filing of a National Instrument 43-101 (“NI 43-101”)
compliant technical report in connection with the measurement of at least 300 million
tonnes of Inferred Resources at the Iska Iska project in Bolivia.
one-third to vest on the date of filing of a NI 43-101 compliant technical report in
connection with the measurement of at least 500 million tonnes of Inferred Resources at
the Iska Iska project in Bolivia.
one-third to vest on the date of filing of a NI 43-101 compliant technical report in
connection with the completion of a positive Prefeasibility Study for the Iska Iska project
in Bolivia.
The settlement of any vested RSU awards shall only occur at the end of the performance period,
on the Redemption Date, being December 31, 2025, and all settlements are subject to the terms
and provisions of the Plan.
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 99% interest in the highly
prospective Iska Iska Property, which can be cl assified as a polymetallic epithermal-porphyry
complex, a significant mineral deposit type in the Potosi Department, in southern Bolivia. Eloro
commissioned a NI 43-101 Technical Report on Iska Iska, which was completed by Micon
International Limited and 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. La Victoria
consists of eight mining concessions and eight mining claims encompassing approximately 89
square kilometres. La Victoria has good infrastructure with access to road, water and electricity
and is located at an altitude that ranges from 3,150 m to 4,400 m above sea level.
For further information please contact either Thomas G. Larsen, Chairman and CEO or
Jorge Estepa, Vice-President at (416) 868-9168.
20 Adelaide Street East, Suite 200, Toronto, Ontario CANADA M5C 2T6 Tel.: (416) 868-9168 Fax: (416) 361-1333
TSX.V Symbol: ELO www.elororesources.com
2 | Page
Information in this news release may contain forward-look ing 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 TSXV nor its Regulation Servic es Provider (as that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this release.