Eloro Resources’ First Drill Hole at the Iska Iska Project’s Central Breccia Pipe Encounters Multiple Mineralized Intercepts including 196 Grams Silver Equivalent/tonne (g Ag eq/t) over 56.2m and containing 343 g Ag eq/t (274 g Ag/t, 0.16% Sn and 0.16 g
Eloro Resources’ First Drill Hole at the Iska Iska Project’s Central Breccia Pipe
Encounters Multiple Mineralized Intercepts including 196 Grams Silver Equivalent/tonne
(g Ag eq/t) over 56.2m and containing 343 g Ag eq/t (274 g Ag/t, 0.16% Sn and 0.16 g
Au/t) over 27.5m
Toronto, Canada, May 4, 2021 – Eloro Resources Ltd. (TSX-V: ELO; OTCQX: ELRRF FSE:
P2QM) (“Eloro”, or the “Company”) is pleased to provide an update on its Iska Iska silver-tin
polymetallic project in Potosi Department, southern Bolivia. To date, the Company has completed
29 diamond drill holes totalling 11,696 metres to test the Huayra Kasa Mine area, Santa Barbara
Breccia Pipe (“SBBP”) and Central Breccia Pipe (“CBP”) targets. This press release reports
further drilling results from the first drill hole (CDN- 01) to test the CBP from the northern radial
platform. Figure 1 is a geological plan map showing locations of the drill holes and updated
geological interpretation. Figure 2 is a NE-SW geological cross section through the eastern side
of the SBBP and the northwest part of the CBP showing location of the main mineralized zone.
Table 1 gives significant drilling results and Table 2 lists holes completed with assays pending.
Highlights are as follows:
Highlights
Hole DCN-01 intersected multiple mineralized intercepts including 196.09 g Ag eq/t
(150.25 g Ag/t, 0.10% Sn and 0.05 g Au/t) over 56.2m and containing 342.98 g Ag
eq/t (274.0 g Ag/t, 0.16% Sn and 0.16 g Au/t) over 27.53m, from 252.84m to 309.04m
in Hole DCN-01.
Recently completed hole DSB-10, drilled from a platform at the SBBP, encountered over
500 m of continuous sulphide mineralization in a position several hundred meters
below mineralization encountered in hole DCN-01. Assays are pending.
Major Mineralized Zone Being Outlined in Central Breccia Pipe
Drill Hole DCN-01, drilled from the northern radial setup on the CBP, intersected a broad 483.3m
wide mineralized zone, from 107.2m to the end of the hole at 590.5m. Within this mineralized
zone there are 19 intersections greater than 31 g Ag eq/t, representing 61% of the overall
mineralized interval, including eight (8) intersections greater than 60 g Ag eq/t (Table 1). The
highest-grade interval returned 196.09 g Ag eq/t (150.25 g Ag/t, 0.10% Sn and 0.05 g Au/t)
over 56.2m, including 342.98 g Ag eq/t (274.0 g Ag/t, 0.16% Sn and 0.16 g Au/t) over 27.53m
from 252.84m to 309.04m. As shown in Figure 2 and discussed below, this intersection appears
to be the top of a very extensive mineralized zone in the CBP that may be as much as 500m
thick.
Drill Hole DSB-10, drilled on an azimuth of 225 degrees at a dip of -60 degrees, initially
intersected 380m of oxidized and leached breccia of the SBBP before intersecting a 500m long
section of mineralized intrusion breccia in the northwestern part of the CBP, as shown in Figures
1 and 2. Within this broad zone, moderate to strong sulphide mineralization extends for a total
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
of 293m from 522m to 586 (64m) and from 650m to 879m (229m) . This hole is the longest
drilled at Iska Iska thus far, with a final length of 1,019.4m, reflecting the remarkable size of the
mineralized system in the CBP. Drill Hole DCN-02 drilled on section with DCN-01 to the
southwest at -60 degrees intersected several zones of mineralized intrusion breccia
approximately 50m thick before intersecting dacite at the western margin of the breccia pipe.
DCN-03 was drilled from the same setup at -60 degrees to the southeast for a length of 464.5m
but was stopped in favour of doing a more efficient hole from the southern radial setup (Figure
1). This hole at an azimuth of 90 degrees and a dip of -60 degrees, is currently at 780m and is
ongoing. Assay results from all these holes are pending. Further drilling is planned to better
define the overall mineralized zone which is very extensive.
Third and Fourth Diamond Drill Being Mobilized to Iska Iska Site
Eloro contractor Leduc Drilling has mobilized a high-capacity underground drill to Iska Iska, which
is capable of drilling up to 600m long underground dr ill holes. This drill is currently being setup
in Drill Bay #3 at the west end of the Huayra Kasa underground workings to complete a fan of
holes to evaluate the area beneath the Santa Barbara adit eastwards to the centre of the caldera
complex. The first hole DHK-18, to be drilled at an azimuth of 180 degrees and dip of -10
degrees, will be collared shortly. This hole is designed to test underneath the Santa Barbara adit
where a recent continuous channel sample returned 442 g Ag eq/t (165 g Ag/t, 3.46% Pb and
0.46% Sn) over 166m including 1,092 g Ag eq/t (including 446 g Ag/t, 9.03% Pb and 1.16%
Sn) over 56.19m (see press release April 13, 2021). An underground drill bay will also be
excavated at the west end of the Santa Barbara Adit to allow underground drilling from there.
Underground drilling is also possible from the Porco adit.
As previously announced (see press release March 29, 2021), an additional surface drill will be
mobilized in early May to test the Porco target, located in the southern part of the Iska Iska
Caldera Complex. This will be the fourth drill on site.
Geophysical, Metallurgical, Synchrotron and Mineralogical Studies
The magnetic survey is progressing well with approximately 43% of the planned 185-line
kilometre survey now complete. Continuous readings are being taken on north-south lines
spaced at 50m intervals to provide detailed magnetic coverage of the entire property. Down-hole
Induced Polarization (“IP”) surveys and a surface gradient IP survey are also planned.
Preliminary metallurgical tests are in progress at the University laboratory in Oruro. Results from
the synchrotron study by Western University are currently being analyzed. Mineralogical studies
are in progress at the Colorado School of Mines.
Micon International Retained to Complete Updated NI 43-101 Technical Report
Mr. Charley Murahwi, P.Geo., Senior Economic Geologist for Micon International Limited and an
independent technical consultant for Eloro, previously completed an independent National
Instrument 43-101 technical report on Iska Iska, dated April 27, 2020, which included a site visit
in January 2020. Mr. Murahwi is currently updating this report to reflect drill hole results reported
up to and including this news release. While COVID-19 related travel restrictions have prevented
a return site visit, Mr. Murahwi has been kept up-to-date on the program’s progress and has had
the opportunity to view a number of representative drill hole samples as well as review all drill
hole data.
Tom Larsen, Chairman and CEO of Eloro said: “As the technical team receive more geological
information and assay results from the accelera ted drilling program, it is becoming readily
3 | Page
apparent that Iska Iska is proving to be in a massive mineralized system generating elevated
metal values from every host rock and structure encountered, especially as one goes deeper.
Results from our discovery hole DHK-15, the recent channel sampling of the Santa Barbara adit
and current results from Hole DCN-01 show the signi ficant potential for outlining major areas of
high-grade mineralization within this extensive mineralized system."
Dr. Bill Pearson, P.Geo., Eloro’s Executive Vice President Exploration, stated: “We are continuing
to aggressively explore the very extensive mineralized system at Iska Iska. The target area for
mineralization in SBBP and CBP is now more than 1km long and at least 800m wide with
mineralization open in all directions. All of the holes drilled to date have intersected
mineralization. The recognition of the importance of the third stage of major remobilization by
Dr. Arce, as outlined in our April 13, 2021 release, has opened up large areas for further testing
outside of the immediate breccia pipes, which themselves are major targets. The addition of our
third and fourth drills will allow us to continue to aggressively test these targets. We also very
much hope that the COVID-19 situation in Lima, Peru will improve so that the ALS Global
Laboratory can return to more normal production rates for assaying.”
Dr. Quinton Hennigh, P.Geo. commented: “Every single drill hole completed at Iska Iska to date
has encountered mineralization, a very positive sign that we are dealing with a very large system.
While it is remarkable to see the first hole at CBP return multiple intervals of mineralization, some
high grade, it is also intriguing that hole DSB-10 has encountered over 500 m of continuous
sulphide mineralization several hundred meters below. What was encountered in hole DCN-01
may simply be smoke above something even larger. We are quite anxious to see the return of
results from this hole.”
Dr. Osvaldo Arce, P.Geo., General Manager of El oro’s Bolivian subsidiary, Minera Tupiza SRL,
and an expert on Bolivian geology, stated: “The style, metal types and distribution of
mineralization at Iska Iska are very typical of the Bolivian polymetallic type of deposit. What is
remarkable at Iska Iska, however, is that the entire system is so well preserved. In recent drill
holes such as DSB-10, we are intersecting extensive thicknesses of sulphide mineralization that
are comparable in scale to other well-known world class Bolivian polymetallic deposits. Multi-
episodic activities of magmatic-hydrothermal systems within different host lithologies and
structures lead to multistage polymetallic mineralization. Sn and Ag typically characterize the
first-stage inner high-temperature part of a km-sized mineralizing system with sulphide- breccias,
veins, stockworks and disseminations centred in both an intrusion breccia cupola and the
overlying subvolcanic granodiorite intrusion at the CBP.
Subsequent second-stage mineralization sequentially expanded outwards from the intrusion
breccia and granodioritic intrusion forming a broader halo with vein-breccia or replacement-style
Pb-Zn ± Sn ± Au ± Bi ± Cu polymetallic stage mineralization hosted in breccia pipes and dacitic
domes of a lower temperature shallower epithermal system at the SBBP. This produced different
types of enriched mineralized shoots within the breccia and the dacitic envelope. The remarkable
tin and/or silver-polymetallic enriched zones su ch as in Hole DCN-01, DSB-10 and the Santa
Barbara adit likely formed in the third phase due to faulting and fracturing during major Andean
deformation, which led to development of favourable sites for redeposition and
remobilization/upgrading of the pre-existing tin and silver-polymetallic mineralization. This last
stage was likely a prolonged multi-stage event with considerable telescoping of mineralization.”
4 | Page
Table 1: Significant Diamond Drilling Results, Iska Iska as at May 4, 2021
Note: True width of the mineralization is not known at the present time, but based on the current
understanding of the relationship between drill orientation/inclination and the mineralization within
the breccia pipes and the host rocks such as sandstones and dacites, is estimated that true width
ranges between 70% and 90% of the down hole interval length but this will be confirmed by
further drilling. Percentage metal contents are shown for each element.
Metal prices and conversion factors used for calculation of g Ag eq/t (grams Ag per grams x
metal) are as follows:
Element Price (per
kg)
Ratio to
Ag
Ag $875.00 1.00000
Sn $28.00 0.03200
Ag Au Zn Pb Cu Sn Bi Cd Ag eq**
g/t g/t % % % % g/t g/t
27.020 0.045 0.001 0.003 0.001 0.031 0.002 0.001 41.08
65.77% 7.59% 0.08% 0.20% 0.26% 26.09% 0.00% 0.00% 100.00%
30.764 0.046 0.001 0.002 0.001 0.089 0.003 0.001 64.73
47.52% 4.97% 0.08% 0.08% 0.17% 47.18% 0.00% 0.00% 100.00%
38.001 0.065 0.002 0.003 0.001 0.146 0.004 0.001 92.82
40.94% 4.94% 0.06% 0.07% 0.12% 53.87% 0.00% 0.00% 100.00%
16.018 0.034 0.002 0.009 0.001 0.089 0.015 0.001 49.30
32.49% 4.83% 0.15% 0.42% 0.22% 61.88% 0.00% 0.00% 100.00%
32.827 0.108 0.004 0.027 0.001 0.082 0.007 0.001 69.343
47.34% 10.91% 0.18% 0.94% 0.22% 40.41% 0.00% 0.00% 100.00%
209.19 0.76 0.00 0.60 0.00 0.52 0.05 0.00 455.14
45.96% 11.72% 0.01% 3.19% 0.08% 39.04% 0.00% 0.00% 100.00%
30.51 0.01 0.01 0.01 0.01 0.07 0.01 0.00 57.81
52.77% 1.21% 0.34% 0.37% 1.41% 43.90% 0.00% 0.00% 100.00%
1.00 0.01 0.00 0.00 0.22 0.05 0.00 0.00 41.75
2.40% 2.01% 0.20% 0.07% 58.04% 37.28% 0.00% 0.00% 100.00%
150.35 0.10 0.00 0.01 0.02 0.10 0.01 0.00 196.09
76.67% 3.45% 0.02% 0.18% 1.38% 18.28% 0.00% 0.00% 100.00%
273.85 0.16 0.00 0.02 0.02 0.16 0.01 0.00 342.98
79.84% 3.19% 0.01% 0.15% 0.66% 16.14% 0.00% 0.00% 100.00%
44.55 0.07 0.00 0.03 0.01 0.03 0.00 0.00 62.66
71.10% 7.96% 0.07% 0.97% 1.70% 18.20% 0.00% 0.00% 100.00%
15.76 0.05 0.01 0.00 0.10 0.08 0.00 0.00 57.20
27.56% 6.57% 0.59% 0.13% 18.37% 46.78% 0.00% 0.00% 100.00%
18.50 0.03 0.00 0.01 0.03 0.12 0.00 0.00 63.13
29.31% 3.33% 0.11% 0.33% 4.73% 62.20% 0.00% 0.00% 100.00%
9.84 0.01 0.01 0.04 0.11 0.08 0.00 0.00 50.13
19.64% 1.40% 0.55% 1.81% 24.06% 52.55% 0.00% 0.00% 100.00%
40.50 0.03 0.00 0.02 0.03 0.07 0.00 0.00 70.88
57.14% 2.81% 0.17% 0.53% 3.85% 35.50% 0.00% 0.00% 100.00%
7.93 0.04 0.00 0.04 0.02 0.12 0.01 0.00 53.80
14.74% 5.14% 0.25% 1.75% 4.81% 73.30% 0.00% 0.00% 100.00%
18.89 0.06 0.00 0.01 0.04 0.08 0.01 0.00 54.20
34.85% 8.06% 0.15% 0.47% 7.40% 49.07% 0.00% 0.00% 100.00%
26.43 0.05 0.00 0.01 0.05 0.06 0.01 0.00 57.83
45.71% 6.27% 0.12% 0.22% 9.98% 37.70% 0.00% 0.00% 100.00%
8.44 0.02 0.00 0.04 0.01 0.11 0.01 0.00 51.17
16.49% 2.72% 0.10% 2.04% 2.66% 75.99% 0.00% 0.00% 100.00%
18.01 0.02 0.00 0.02 0.01 0.08 0.00 0.00 47.40
37.99% 3.08% 0.22% 1.07% 3.13% 54.51% 0.00% 0.00% 100.00%
33.42 0.04 0.00 0.01 0.00 0.14 0.00 0.00 84.92
39.36% 3.55% 0.11% 0.22% 0.46% 56.30% 0.00% 0.00% 100.00%
17.43 0.01 0.00 0.01 0.03 0.08 0.00 0.00 47.69
36.56% 2.05% 0.29% 0.72% 5.84% 54.53% 0.00% 0.00% 100.00%
9.19 0.03 0.02 0.02 0.04 0.04 0.07 0.00 31.49
29.20% 7.42% 1.92% 1.43% 14.07% 45.96% 0.00% 0.00% 100.00%
8.81 0.03 0.01 0.05 0.03 0.05 0.09 0.00 34.26
25.70% 5.48% 1.12% 3.68% 9.38% 54.63% 0.00% 0.00% 100.00%
Incl. 146.70 155.72 9.02
167.78 175.20 7.42
586.90 590.50 3.60
580.50 583.75 3.25
193.25 200.75 7.50
226.20 230.74 4.54
236.50 244.00 7.50
252.84 309.04 56.20
DCN-01 From (m) To (m) Length (m)
107.19 115.00 7.81
134.56 155.72 21.16
363.29 367.79 4.50
375.37 378.37 3.00
Incl. 252.84 280.37 27.53
324.16 333.26 9.10
208.20 211.03 2.83
435.65 441.78 6.13
456.93 486.84 29.91
397.90 403.84 5.94
415.88 425.00 9.12
Incl. 543.60 548.09 4.49
Incl. 467.09 486.84 19.75
Incl. 552.53 563.32 10.79
504.85 507.77 2.92
536.50 26.82 563.32
5 | Page
Element Price (per
kg)
Ratio to
Ag
Zn $2.80 0.00320
Pb $2.10 0.00240
Au $57,400.00 65.60000
Cu $8.80 0.01006
Bi $12.76 0.01458
In $305.00 0.34857
Cd $5.50 0.00629
In calculating the intersections reported in this press release a sample cutoff of 30 gAgeq/t was
used with generally a maximum dilution of 3 continuous samples below cutoff included within a
mineralized section unless more dilution is justified geologically.
Table 2: Summary of Diamond Drill Holes at Iska Iska from press release of May 4, 2021
with assays pending.
Hole No. Type Collar
Easting
Collar
Northing
Elev Azimuth Angle Hole Length
m
Underground Drilling Huayra Kasa – Santa Barbara Area
DSB-18 UG 205468.9 7656367.2 235 180 -10 In progress
Santa Barbara Breccia Pipe - Surface Radial Drilling from Centre
DSB-07 S 205118.9 7656205.7 4356.0 135 -60 683.4
DSB-08 S 205118.9 7656205.7 4356.0 45 -60 614.4
DSB-09 S 205118.9 7656205.7 4356.0 315 -60 692.4
DSB-10 S 205118.9 7656205.7 4356.0 225 -60 1,019.4
Subtotal 3,009.6
DSB-11 S 205118.9 7656205.7 4356.0 125 -40 In progress
Central Breccia Pipe – Surface Radial Drill Program – North Setup
DCN-01 S 204902.0 7655860.0 4420.0 45 -60 590.5
DCN-02 S 204902.0 7655860.0 4420.0 225 -60 623.5
Subtotal 1,214.0
DCN-03 S 204902.0 7655860.0 4420.0 225 -60 In progress
TOTAL 4,223.6
S = Surface UG=Underground; collar coordinates in metres; azimuth and dip in degrees
Total drilling completed since the start of the program on September 13, 2020 is
11,696.4m m in 12 underground holes and 17 surface holes with one underground and
two surface holes in progress.
Qualified Person
Dr. Osvaldo Arce, P. Geo., General Manager of Minera Tupiza S.R.L., and a Qualified Person in
the context of National Instrument 43-101 (NI 43-101), has reviewed and approved the technical
content of this news release. Dr. Bill Pearson, P.Geo., Executive Vice President Exploration
Eloro, and who has more than 45 years of worldwide mining exploration experience including
extensive work in South America, manages the overall technical program in consultation with Dr.
Quinton Hennigh, P.Geo., Senior Technical Advisor to Eloro and Independent Technical Advisor,
Mr. Charley Murahwi P. Geo., FAusIMM of Micon International Limited.
6 | Page
Drill and channel samples are prepared in ALS Bolivia Ltda’s preparation facility in Oruro, Bolivia
with pulps sent to the main ALS Global laboratory in Lima for analysis, As announced in the
February 26, 2021 press release, Eloro has changed the assay protocol to utilize X-ray
fluorescence (XRF) to more accurately analyze higher Sn. Tin in the CBP is suspected to occur
as cassiterite which is insoluble in acid digestion, and therefore not suited for wet chemical
techniques. In addition, other assay protocols have been changed to provide for a more accurate
measurement of the wide-ranging suite of polymetallic metals at Iska Iska. 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.
Unfortunately, the ALS Global laboratory in Lima where the Iska Iska samples are being analyzed
has had major delays in turnaround time due to the impact of the COVID-19 lockdown of Lima
by the Peruvian government. This has restricted availability of critical supplies necessary to carry
out analytical work. As a result, there will be delays in reporting of assay results.
About Iska Iska
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. The property can be
classified as a silver-tin polymetallic (Ag, Zn, Pb, Au, Cu, Bi, Sn, In) and porphyry-epithermal
complex. This is an important mineral deposit type in the prolific South Mineral Belt of Bolivia.
Silver-tin polymetallic mineralization at Iska Iska occurs within a Miocene possibly
collapsed/resurgent caldera that consists of granodioritic stocks and five (5) dacitic domes which
are each about 500m in diameter. These rocks intrude/extrude an intensely deformed sequence
of Ordovician shales, siltstones, and sandstones, which are partially covered by Miocene
pyroclastic rocks. The silver polymetallic mineralization occurs mainly as veins, vein swarms,
veinlets, stockworks, disseminations and in breccias associated with intense hydrothermal
alteration. The Iska Iska dome complex has several major phases of igneous breccias, quartz
porphyries, dikes and dacitic syn-kinematic flows.
On November 18, 2020 Eloro announced the discovery of a significant breccia pipe with
extensive silver polymetallic mineralization just east of the Huayra Kasa underground workings
and a high-grade gold-bismuth zone in the underground workings. Diamond drilling intersected
a number of extensive mineralized intersections within the major breccia pipe including 54.48 g
Ag/t, 1.45% Zinc (Zn) and 1.60% Lead (Pb) over 16.39m (140.91 g Ag eq/t) within a broader
interval of 122.74m grading 14.29 g Ag/t, 0.81% Zn and 0.41% Pb (53.67 g Ag/t eq) in Hole DHK-
04 (see press release November 18, 2020).
The high-grade gold-bismuth zone outlined in channel samples in the underground working
averaged 7.1 g Au/t and 0.2% Bi (8.29 g Au eq/t) over 3.04m width for strike length of 47m. Hole
DHK-05 on the strike extension of the high-grade Au-Bi zone intersected 6.51g Au/t, 0.07% Bi
and 31.96 g Ag/t (7.68 g Au eq/t) over 11.85m grading including 29.56 g Au/t,0.26% Bi/t and
63.69 g Ag/t (31.94 g Au eq/t) over 2.31m in this high-grade zone.
On January 26, 2021, Eloro announced significant results from drilling at the Santa Barbara
Breccia Pipe. Highlights are as follows:
129.60 g Ag eq/t over 257.5m (29.53g Ag/t, 0.078g Au/t, 1.45%Zn, 0.59%Pb, 0.080%Cu,
0.056%Sn, 0.0022%In, 0.0064%Bi and 0.0083%Cd) from 0.0m to 257.5m in hole DHK-
15, the deepest of the three holes reported within the SBBP;
7 | Page
79.00 g Ag eq/t over 121.33m (21.77g Ag/t, 0.034g Au/t, 0.35%Zn, 0.23%Pb, 0.18%Cu,
0.056%Sn, 0.0011%In, 0.004%Bi and 0.0055%Cd) from 0.0m to 121.33m in Hole DHK-
14 within the SBBP;
74.16 g Ag eq/t over 40.88m (33.43g Ag/t, 0.032g Au/t, 0.04%Zn, 0.33%Pb, 0.13%Cu,
0.045%Sn, 0.0010%In and 0.0012%Bi) from 30.40m to 71.28m in Hole DHK-13 which is
within the approximately 100m wide mineralized envelope that surrounds the breccia
pipe.
Silver-tin polymetallic mineralization within the Iska Iska system occurs over a potential strike
length of more than 2.5km along major ring structures in the caldera complex. A synchrotron
study of the underground channel samples (see press release dated June 25, 2020) concluded
that the mineral cluster analysis identified four mineralogical domains that cover the entire
sampling area suggesting they are related and represent a single, large mineralizing system.
Furthermore, the mineralogy of the domains is consistent with minerals identified in hand
specimen and are likely related to a telescoped porphyry/epithermal style of mineralization.
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.
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.
8 | Page
Figure 1: Geological Plan Map of the Santa Barbara and Central Breccia Pipe areas