Eloro Resources Reports the Lo ngest and Highest-Grade Tin Intersection Obtained thus far in Drilling at its Iska Iska Project, Potosí Department, Bolivia with 213.00 Metres Grading 0.51% Tin (Sn)
Eloro Resources Reports the Lo ngest and Highest-Grade Tin
Intersection Obtained thus far in Drilling at its Iska Iska Project, Potosí
Department, Bolivia with 213.00 Metres Grading 0.51% Tin (Sn)
Highlights:
DSB-87, an infill hole drilled 150m southeast of discovery hole DSB-72, intersected 213.00m
grading 0.51% Sn and 25.46 g/t Ag within a broader interval of 241.50m grading 0.47%
Sn and 23.17 g/t Ag , beginning at 26.10m, including 1.18% Sn over 34.50m , beginning at
62.10m. This is the longest and highest-grade tin intersection obtained thus far in drilling at
Iska Iska.
Hole DSB-87 also includes higher-grade sections of:
o 238.40 g/t Ag and 1.55% Sn over 4.50m, beginning at 150.60m, and
o 0.64% Zn over 54.00m, beginning at 267.60m.
DSB-80, a step-out hole collared 75m southwest of hole DSB-76, intersected several higher-
grade silver, tin, gold and zinc intervals:
o 53.10g/t Ag over 15.00m, beginning at 340.50m
o 30 g/t Ag over 9.00m, beginning at 445.50m,
o 34.50 g/t Ag over 10.50m, beginning at 460.50m,
o 0.30% Sn and 3.01 g/t Au over 0.75m beginning at 516.00m,
o 1.44% Zn over 6.00m beginning at 231.00m and
o 41.13 g/t Ag and 2.36% Zn over 6.00m beginning at 250.50m.
Hole DSB-84, a step-out hole 50m southwest of hole DSB-35, intersected higher-grade tin and
silver intervals, including:
o 31.62 g/t Ag over 16.50m , beginning at 109.00m, including 108.80 g/t Ag over
3.00m, beginning at 109.00m
o 34.85 g/t Ag over 3.00m, beginning at 122.50m
o 67.70 g/t Ag and 0.21% Sn over 4.50m beginning at 214.00m.
DSB-85, a step-out hole drilled 125m southwest of hole DSB-79 intersected a number of
higher-grade tin and silver intervals:
o 38.26 g/t Ag over 22.50m , beginning at 58.50m, including 65.60 g/t Ag over
10.50m, beginning at 58.50m
o 68.36 g/t Ag over 10.50m, beginning at 136.50m
o 198.08 g/t Ag over 9.00m, beginning at 166.50m
o 92.40 g/t Ag and 0.22% Sn over 6.00m, beginning at 186.00m
o 0.79% Sn over 3.00m, beginning at 196.50m
o 80.32 g/t Ag and 0.29% Sn over 7.50m, beginning 307.50m
o 0.38% Sn over 4.50m, beginning at 379.50m
o 0.20% Sn over 30m , beginning at 399.00m, including 1.45% Sn over 1.50m ,
beginning at 399.00m and 0.36% Sn over 4.50m, beginning at 417.00m.
DSB-86, a step-out hole drilled 50m northeast of hole DSB-47, intersected a very long zinc
and lead interval grading 0.81% Zn and 0.80% Pb over 241.50m , beginning at 102.70m,
including a higher section grading 1.56% Zn and 0.98% Pb over 100.50m , beginning at
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242.20m. It also included 52.80 g/t Ag and 1.30% Pb over 7.50m , beginning at 192.70m.
Further downhole it intersected 0.85% Zn over 105.00m, beginning at 344.20m and 81.00 g/t
Ag over 6.00m, beginning at 497.95m.
Note: True width is approximately 80% of core length.
Results from the new definition drill program have further expanded the footprint of a large multi-
phase hydrothermal system in the potential starter pit at Iska Iska with dimensions having
increased to approximately 800m by 500m by 500m deep. The current results have increased
dimensions by 100m by 100m along and across strike, compared with those previously reported.
TORONTO, Canada, September 16, 2025 -- Eloro Resources Ltd. (TSX: ELO; OTCQX:
ELRRF; FSE: P2QM) (“Eloro”, or the “Company”) is pleased to announce further assay results
from five (5) drillholes (DSB-80, DSB-84, DSB-85, DSB-86 and DSB-87) of the second phase
definition diamond drilling program. Four of these holes are located in the Polymetallic Domain
(DSB-80, DSB-84, DSB-85 and DSB-86) and one is in the Tin Domain (DSB-87), in the potential
Santa Barbara starter pit area. These results have further expanded the footprint of a large multi-
phase hydrothermal system in the potential starter pit with dimensions having now increased to
approximately 800m by 500m by 500m deep (see Figure 1). The current results have increased
dimensions by 100m by 100m along and across strike, compared with those previously reported
(see Eloro’s Press Release dated August 6, 2025). To date, a total of 6,242m of diamond drilling
in twelve (12) holes has been completed in the current definition drilling phase. A total of 2,346m
was completed in the five (5) holes reported, with assays pending for the remaining two holes
totalling 1,025m.
Figure 1 shows the location of drill holes reported, Table 1 lists significant assay results and Table
2 lists drill hole coordinates.
Tom Larsen, Eloro’s CEO commented: “We are pleased with the steady progress of our drilling
operations at Iska Iska, a crucial step toward advancing the project. The scale and potential of this
system continue to impress us with long higher-grade intercepts, including 213.00m grading
0.51% tin and 25.46 g/t silver in both the Tin-Silver and Polymetallic Domains. These results
underscore the importance of this phase of drilling in unlocking additional value for our
shareholders. Notably, the Santa Barbara Zone remains open laterally and downdip, presenting
significant opportunities for further infill and step-out drilling to expand and upgrade the mineral
resources for the planned PEA.”
Dr. Osvaldo Arce, P.Geo., Executive Vice President Operations, Latin America for Eloro added:
"The dynamic nature of hydrothermal events seen in the drill core at Iska Iska is very encouraging,
particularly the vein-breccia and intrusion-breccia which are typical of high-grade porphyry-tin and
polymetallic deposits of the Bolivian Tin Belt district. The hydrothermal system shows strong scale
and complexity, and interpretation of drill core is vectoring us towards a system with potentially
significant tin-polymetallic endowment. The current closer-spaced definition drill program has both
upgraded and expanded the mineralization with significant higher-grade tin, silver and polymetallic
zones which are still open laterally and at depth in the potential starter pit area at Santa Barbara
zone. In addition, holes DSB-80, DSB-84 and DSB-85 intersected mineralization in areas that
were previously modeled as waste within the resource model, due to lack of drilling. The
mineralization encountered in DSB-86 (polymetallic) and DSB-87 (tin predominant) is very
encouraging. Hole DSB-86 targeted the enriched epithermal mineralization in the eastern part of
the system, and hole DSB-87 targeted a prominent intrusion breccia vein-breccia zone within the
southwestern >0.30% tin zone. We are optimistic that additional drilling will further delineate the
mineralized zone and potentially confirm larger extensions both laterally and at depth of both the
tin and polymetallic system at Iska Iska."
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Definition Drill Program, Santa Barbara Potential Starter Pit Area
Drillholes DSB-80, DSB-86 and DSB-87 were drilled in the southeastern margin of the Potential
Starter Pit Area, and holes DSB-84 and DSB-85 were drilled in the southwestern margin of the Pit
area.
DSB-80, a step-out hole collared 75m southwest of hole DSB-76, intersected several higher-grade
silver, tin, gold and zinc intervals:
53.10g/t Ag over 15.00m beginning at 340.50m,
58.00 g/t Ag over 1.50m beginning at 430.50m,
30 g/t Ag over 9.00m beginning at 445.50m,
34.50 g/t Ag over 10.50m beginning at 460.50m,
38 g/t Ag over 1.50m beginning at 480.00m,
3.01 g/t Au and 0.30% Sn over 0.75m beginning at 516.00m, and
30.75 g/t Ag and 0.88% Zn over 3.00m beginning at 532.50m.
This hole also intersected: 0.39% Sn and 28 g/t Ag over 0.75m beginning at 91.50m, 30.50 g/t
Ag over 3.00m beginning at 210.00m, 1.44% Zn over 6.00m beginning at 231.00m and 41.13 g/t
Ag and 2.36% Zn over 6.00m beginning at 250.50m.
DSB-84, a step-out hole 50m southwest of hole DSB-35, intersected a number of higher-grade tin
and silver zones including:
31.62 g/t Ag over 16.50m beginning at 109.00m including 108.80 g/t Ag over 3.00m
beginning at 109.00m,
34.85 g/t Ag over 3.00m beginning at 122.50m,
0.49% Sn over 1.50m beginning at 50.50m and 76.30 g/t Ag and 0.44% Sn over 1.50m
beginning at 86.50m.
Further downhole, DSB-84 intersected: 30.70 g/t Ag over 1.50m , beginning at 160.75m, 67.70
g/t Ag and 0.21% Sn over 4.50m , beginning at 214.00m and 39.00 g/t Ag and 0.30% Sn over
1.50m, beginning at 227.50m.
DSB-85, a step-out hole drilled 125m southwest of hole DSB-79 intersected a number of higher-
grade tin and silver intervals:
38.26 g/t Ag over 22.50m beginning at 58.50m including 65.60 g/t Ag over 10.50m
beginning at 58.50m,
32.51 g/t Ag and 0.14% Sn over 10.50m beginning at 39.00m,
29.73 g/t Ag and 0.22% Sn over 6.00m beginning at 91.50m,
68.36 g/t Ag over 10.50m beginning at 136.50m.
198.08 g/t Ag over 9.00m beginning at 166.50m.
92.40 g/t Ag and 0.22% Sn over 6.00m beginning at 186.00m.
0.79% Sn over 3.00m beginning at 196.50m.
20.97 g/t Ag and 0.25% Sn over 4.50m beginning at 240.00m.
80.32 g/t Ag and 0.29% Sn over 7.50m beginning 307.50m.
0.45% Sn over 1.50m beginning at 334.50m.
18.20 g/t Ag and 0.29% Sn over 3.00m beginning at 339.00m,
0.38% Sn over 4.50m beginning at 379.50m.
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0.20% Sn over 30m beginning at 399.00m including 1.45% Sn over 1.50m beginning at
399.00m.
0.36% Sn over 4.50m beginning at 417.00m.
DSB-86, a step-out hole drilled 50m northeast of hole DSB-47, intersected 0.81% Zn and 0.80%
Pb over 241.50m, beginning at 102.70m, including a higher section grading 1.56% Zn and 0.98%
Pb over 100.50m, beginning at 242.20m. It also included 52.80 g/t Ag and 1.30% Pb over 7.50m,
beginning at 192.70m. Further downhole it intersected 0.85% Zn over 105.00m , beginning at
344.20m and 81.00 g/t Ag over 6.00m, beginning at 497.95m.
DSB-87, an infill hole drilled 150m southeast of discovery hole DSB-72, intersected a higher-grade
tin zone grading 0.47% Sn and 23.17 g/t Ag over 241.50m , beginning at 26.10m, including a
higher-grade section of 0.51% Sn and 25.46 g/t Ag over 213.00m , beginning at 26.10m, 1.18%
Sn over 34.50m, beginning at 62.10m, 238.40 g/t Ag and 1.55% Sn over 4.50m , beginning at
150.60m. Further downhole, it intersected 0.64% Zn over 54.00m, beginning at 267.60m.
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Figure 1: Location Map of Definition Diamond Drill Holes, Santa Barbara zone, Iska Iska.
The yellow circles highlight the location of holes DSB-80, DSB-84, DSB-85, DSB-86 and
DSB-87 referred to in this release.
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Table 1: Definition Diamond Drill Results as of September 1, 2025, Santa Barbara, Iska, Iska.
SANTA BARBARA DEFINITION DIAMOND DRILL RESULTS
Hole No. From (m) To (m) Length (m) Ag Zn Pb Sn Ag eq.
g/t % % % g/t
DSB-80 34.50 36.00 1.50 25.00 0.00 0.02 0.02 26.23
91.50 92.25 0.75 28.00 0.04 0.60 0.39 114.33
102.00 112.50 10.50 3.71 0.55 0.34 0.05 39.17
138.00 139.50 1.50 24.00 0.70 0.07 0.08 61.07
145.50 154.50 9.00 21.17 0.02 0.06 0.09 37.88
169.50 174.00 4.50 16.00 0.03 0.15 0.11 39.19
210.00 213.00 3.00 30.50 0.72 0.14 0.05 63.64
231.00 237.00 6.00 11.75 1.44 0.08 0.05 70.62
240.00 241.50 1.50 4.00 1.26 0.05 0.00 47.40
250.50 256.50 6.00 41.13 2.36 0.47 0.02 130.67
340.50 355.50 15.00 53.10 0.17 0.14 0.02 60.28
373.50 382.50 9.00 21.67 0.06 0.03 0.02 26.34
390.00 394.50 4.50 22.33 0.03 0.01 0.02 25.31
402.00 403.50 1.50 20.00 0.02 0.10 0.02 23.56
409.50 411.00 1.50 22.00 0.45 0.14 0.02 40.96
417.00 424.50 7.50 23.40 0.30 0.08 0.02 37.00
430.50 432.00 1.50 58.00 0.20 0.06 0.03 64.40
441.00 442.50 1.50 20.00 0.15 0.03 0.01 24.37
445.50 454.50 9.00 30.00 0.06 0.03 0.06 40.79
460.50 471.00 10.50 34.50 0.05 0.06 0.15 61.93
475.50 476.25 0.75 16.00 0.05 0.03 0.07 30.65
480.00 481.50 1.50 38.00 0.15 0.07 0.13 64.62
489.00 490.50 1.50 4.00 0.04 0.02 0.12 29.27
516.00 516.75 0.75 21.00 0.27 0.10 0.30 87.81
532.50 535.50 3.00 30.75 0.88 0.21 0.18 96.73
546.00 551.30 5.30 1.57 0.07 0.02 0.11 25.19
DSB-84 50.50 52.00 1.50 16.40 0.00 0.00 0.49 110.55
67.00 73.00 6.00 25.75 0.00 0.01 0.04 30.27
86.50 88.00 1.50 76.30 0.00 0.11 0.44 154.95
109.00 125.50 16.50 31.62 0.00 0.01 0.02 31.65
Incl. 109.00 112.00 3.00 108.80 0.00 0.03 0.03 101.70
Incl. 122.50 125.50 3.00 34.85 0.00 0.00 0.02 34.52
160.75 162.25 1.50 30.70 0.00 0.02 0.09 45.43
214.00 218.50 4.50 67.70 0.00 0.01 0.21 99.98
224.50 226.00 1.50 15.00 0.00 0.00 0.14 40.41
227.50 229.00 1.50 39.00 0.00 0.00 0.30 92.75
232.00 238.00 6.00 18.70 0.00 0.01 0.08 31.36
260.50 265.00 4.50 14.90 0.00 0.06 0.11 36.53
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Hole No. From (m) To (m) Length (m) Ag Zn Pb Sn Ag eq.
g/t % % % g/t
DSB-85 39.00 49.50 10.50 32.51 0.00 0.00 0.14 56.38
58.50 81.00 22.50 38.26 0.00 0.02 0.06 45.01
Incl. 58.50 69.00 10.50 65.60 0.00 0.01 0.08 73.70
91.50 97.50 6.00 29.73 0.00 0.07 0.22 71.05
136.50 147.00 10.50 68.36 0.00 0.13 0.08 78.02
166.50 175.50 9.00 198.08 0.00 0.01 0.04 181.50
186.00 192.00 6.00 92.40 0.00 0.03 0.22 125.32
196.50 199.50 3.00 1.10 0.00 0.00 0.79 154.74
205.50 229.50 24.00 20.93 0.00 0.01 0.05 28.57
240.00 244.50 4.50 20.97 0.00 0.06 0.25 68.71
283.50 285.00 1.50 25.50 0.00 0.00 0.01 23.83
298.50 331.50 33.00 43.81 0.00 0.02 0.12 63.37
Incl. 307.50 315.00 7.50 80.32 0.00 0.06 0.29 128.29
334.50 336.00 1.50 5.50 0.00 0.06 0.45 94.66
339.00 342.00 3.00 18.20 0.00 0.00 0.29 73.18
372.00 373.50 1.50 0.30 0.00 0.00 0.15 29.77
379.50 384.00 4.50 4.27 0.00 0.02 0.38 79.07
390.00 391.50 1.50 1.20 0.00 0.00 0.16 32.57
399.00 429.00 30.00 9.31 0.00 0.03 0.20 48.96
Incl. 399.00 400.50 1.50 4.30 0.00 0.05 1.45 286.84
Incl. 417.00 421.50 4.50 13.88 0.00 0.09 0.36 84.94
DSB-86 66.70 102.70 36.00 0.58 0.60 0.13 0.02 27.01
102.70 344.20 241.50 11.95 0.81 0.80 0.06 66.70
Incl. 135.70 144.70 9.00 0.58 0.89 0.56 0.04 49.90
Incl. 144.70 192.70 48.00 5.13 0.19 0.50 0.03 27.84
Incl. 192.70 200.20 7.50 52.80 0.01 1.30 0.04 82.70
Incl. 200.20 242.20 42.00 9.96 0.40 0.81 0.04 48.01
Incl. 242.20 342.70 100.50 14.16 1.56 0.98 0.08 102.80
344.20 449.20 105.00 7.23 0.85 0.27 0.06 53.15
459.70 473.95 14.25 7.26 0.49 0.05 0.15 52.56
497.95 503.95 6.00 81.00 0.05 0.06 0.06 85.52
DSB-87 5.10 9.60 4.50 46.90 0.01 0.16 0.05 53.85
26.10 267.60 241.50 23.17 0.10 0.13 0.47 117.97
Incl. 26.10 239.10 213.00 25.46 0.02 0.11 0.51 125.71
Incl. 62.10 96.60 34.50 7.03 0.00 0.04 1.18 237.05
Incl. 150.60 155.10 4.50 238.40 0.00 0.32 1.55 518.89
Incl. 155.10 239.10 84.00 40.13 0.05 0.22 0.34 108.74
Incl. 239.10 263.10 24.00 5.96 0.72 0.32 0.08 51.27
Incl. 263.10 267.60 4.50 6.53 0.59 0.12 0.41 107.39
267.60 321.60 54.00 7.91 0.64 0.19 0.06 43.92
Incl. 272.10 321.60 49.50 8.41 0.67 0.20 0.06 46.32
371.10 383.10 12.00 33.88 0.06 0.03 0.06 43.84
Note: True width is approximately 80% of core length. Silver equivalent (Ag eq) grades are calculated using
3-year average metal prices of Ag = US$24.14/oz, Zn = US$1.36/lb , Pb = 0.98/lb and Sn = US$13.74/lb,
8 | Page
and preliminary metallurgical recoveries of Ag = 88% , Zn = 87%, Pb= 80% and Sn = 50%. In selecting
intervals, a cutoff grade of 30 g Ag eq/t has been used. Lower grade material may be included in
intersections where geological continuity is warranted.
Table 2: Summary of Diamond Drill Hole Coordinates for Drill Holes Completed at Iska
Iska as of September 1, 2025
Hole No. Type Collar Easting Collar Northing Elevation Azimuth Angle Hole length
(m)
DSB-80 P 205173 7655978 4279 225° -85° 551.3
DSB-84 P 204955 7655973 4370 225° -85° 410.3
DSB-85 P 204989 7655939 4359 225° -85° 452.3
DSB-86 P 205413 7656137 4205 225° -60° 515.6
DSB-87 P 205213 7656049 4295 225° -85° 416.5
Subtotal 2,346
Qualified Person (“QP”)
Dr. Osvaldo Arce, P.Geo. Executive Vice President, Latin America for Eloro and General Manager
of Eloro’s Bolivian subsidiary, Minera Tupiza S.R.L, and a Qualified Person (“QP”) as defined by
National Instrument (“NI”) 43-101 has reviewed and approved the technical content of this news
release. Dr. Arce has supervised all field work carried out at Iska Iska.
Eloro utilized both ALS and AHK for drill core analyses, both of whom are major international
accredited laboratories. Drill samples sent to ALS were prepared in both ALS Bolivia Ltda’s
preparation facility in Oruro, Bolivia and the preparation facility operated by AHK in Tupiza with
pulps sent to the main ALS Global laboratory in Lima for analysis. Eloro employs an industry
standard QA/QC program with standards, blanks and duplicates inserted into each batch of
samples analyzed with selected check samples sent to a separate accredited laboratory.
Drill core samples sent to AHK Laboratories were prepared in a preparation facility installed and
managed by AHK in Tupiza with pulps sent to the AHK laboratory in Lima, Peru. Check samples
between ALS and AHK are regularly done as a QA/QC check. AHK is following the same
analytical protocols used as with ALS and with the same QA/QC protocols.
About Iska Iska
The Iska Iska silver-tin polymetallic project is a road accessible, royalty-free property, wholly
controlled by the Title Holder, Empresa Minera Villegas S.R.L. and is located 48 km north of Tupiza
city, in the Sud Chichas Province of the Department of Potosi in southern Bolivia. Eloro has an
option to earn a 100% interest in Iska Iska.
Iska Iska is a major silver-tin polymetallic porphyry-epithermal complex associated with a Miocene
possibly collapsed/resurgent caldera, emplaced on Ordovician age rocks with major breccia pipes,
dacitic domes and hydrothermal breccias. The cal dera is 1.6km by 1.8km in dimension with a
vertical extent of at least 1km. Mineralization age is similar to Cerro Rico de Potosí and other
major deposits such as San Vicente, Chorolque, Tasna and Tatasi, all located along the same
overall geological trend.