Eloro Resources Revises Payment Terms for Bolivian Silver-Tin Project Acquisition

Eloro Resources Ltd. has announced amendments to the payment terms for acquiring full interest in the Iska Iska silver-tin polymetallic project in southern Bolivia, in agreement with Empresa Minera Villegas S.R.L. The revised terms include a credit of US$1.8 million for exploration spending on the adjacent Mina Casiterita property, with cash payments of US$1 million and US$1.65 million due in 2025 and 2026, respectively. These financial adjustments provide Eloro with improved cash flow management while maintaining progress on the significant mineral property acquisition.

The agreement for the Mina Casiterita and Mina Hoyada properties has been updated, requiring a US$1.8 million payment within a year of securing mining rights and the issuance of 200,000 Eloro shares upon property transfer. This restructuring of payment obligations allows the company to allocate resources more effectively toward exploration and development activities while securing valuable adjacent properties that complement the main Iska Iska project. The strategic amendments demonstrate Eloro's methodical approach to project acquisition and development in the region.

The Iska Iska project, accessible by road and free of royalties, represents a significant opportunity in the Potosi Department, known for its rich mineral deposits. Eloro's strategic adjustments to the payment schedule and adjacent property agreements underscore the company's commitment to advancing its exploration and development efforts in Bolivia. These changes not only facilitate the financial management of the project but also strengthen Eloro's position in the region's mining sector. The revised terms provide the company with greater flexibility in capital allocation while maintaining momentum on the project's development timeline.

The importance of these amendments extends beyond immediate financial benefits, as they position Eloro to more effectively capitalize on the project's potential within Bolivia's established mining jurisdiction. The restructuring of payment obligations reflects prudent financial management while ensuring the company can maintain its exploration pace and technical evaluation of the property. This approach allows Eloro to balance acquisition costs with necessary exploration expenditures, potentially accelerating the project's advancement toward production decision milestones.