Eloro Resources Completes Option Payments on the Iska Iska Silver-Tin Polymetallic Project, Potosi Department, Bolivia
Eloro Resources Completes Option Payments
on the Iska Iska Silver-Tin Polymetallic
Project, Potosi Department, Bolivia
Toronto, Ontario--(Newsfile Corp. - January 29, 2026) -
Eloro Resources Ltd. (TSX: ELO) (OTCQX:
ELRRF) (FSE: P2QM)
("
Eloro
", or the "
Company
") is pleased to announce that it has paid all option
payments payable to Empresa Minera Villegas SRL ("
Minera Villegas
") to complete the option held by
its Bolivian subsidiary, Minera Tupiza SRL ("
Minera Tupiza
") to acquire a 99% joint venture interest in
the Iska Iska silver-tin polymetallic project in Potosí, Bolivia ("
Iska Iska
").
Eloro made the final payment
of US$1,150,000 today and, in accordance with an Addendum to the Option Agreement, Eloro
transferred US$1,800,000 into a trust account for payment to Minera Villegas within 12 months after
Minera Villegas obtains the mining rights over the Mina Casiterita and Mina Hoyada mining areas.
Through a series of strategic regulatory and commercial agreements Minera Tupiza SRL now holds a
99% joint venture interest and has 100% economic participation and full operational control of the Iska
Iska project.
The Company, through its Bolivian subsidiary, Minera Tupiza, has formalized an Addendum to the Joint
Venture Agreement with Minera Villegas, the Iska Iska titleholder. Pursuant to this Addendum,
Minera
Tupiza's participation joint venture interest is set at 99%, with Minera Villegas retaining a 1% joint
venture interest. This revised structure ensures that Eloro maintains full operational control and regulatory
alignment while complying with the applicable provisions of the Bolivian Mining Law. The Addendum will
be filed with the relevant Bolivian mining authorities for approval in the ordinary course and in
accordance with applicable regulations.
Tom Larsen, Eloro's CEO, commented: "Completion of the option payments represents a major
corporate and strategic milestone for Eloro. The streamlined ownership and control structure aligns
regulatory compliance with operational efficiency, eliminates economic uncertainty, and positions the
Company to advance Iska Iska with maximum flexibility and clarity as development activities continue."
About Eloro Resources Ltd.
Eloro is an exploration and mine development company with a portfolio of precious and base-metal
properties in Bolivia, Peru and Quebec. Eloro, through its Bolivian subsidiary, Minera Tupiza SRL, has
a
99% joint venture interest and a 100% economic participation 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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/282025