• Eloro Resources released updates on Iska Iska project at Metals Investor Forum held in Toronto on March 3-4, 2023
• Iska Iska is a major silver-tin polymetallic porphyry-epithermal complex located in southern Bolivia
• Drilling revealed significant breccia pipe containing extensive silver polymetallic mineralization and a high-grade gold-bismuth zone in the underground workings
• Eloro recently acquired Mina Casiterita and Mina Hoyada properties, geological mapping, sampling, and geophysical surveys in progress, drilling planned in Q1-2023

Dr. Bill Pearson, Executive Vice President of Exploration for Eloro Resources (TSX: ELO) (OTCQX: ELRRF) (FSE: P2QM) recently revealed promising drilling results from the company’s Iska Iska project in Bolivia at the Metals Investor Forum held in Toronto on March 3-4, 2023 (https://ibn.fm/1BXUl).

Iska Iska is a major silver-tin polymetallic porphyry-epithermal complex located 48 km north of Tupiza city in southern Bolivia. According to the company, the project’s mineralization age is similar to other significant deposits in the same geological trend, including San Vicente, Chorolque, Tasna, and Tatasi.

Eloro began drilling in September 2020, and announced in November that it had discovered a significant breccia pipe (the “Santa Barbara Breccia Pipe”) containing extensive silver polymetallic mineralization and a high-grade gold-bismuth zone in the underground workings. The company has since released several significant drill results, including a report in September 2022 revealing that new downhole geophysical data has significantly extended the strike length of the high-grade feeder zone a further 250 meters from existing drilling.

“We’re looking at an intrusive volcanic system that is about five kilometers by three kilometers, so the drilling that we’ve done thus far, which is about 85,000 (meters) and 122 holes, is actually only a subset of this massive system,” said Dr. Pearson in an interview at the Forum (https://ibn.fm/aXr5c). “And it’s important to point out too, in those 122 holes, we haven’t missed one hole. We’ve had some extraordinary intercepts up to over 400 meters, so this is a true giant deposit.”

“What’s really exciting about it is we actually have one deposit in the bank – Santa Barbara – it’s silver, zinc, and lead. But as we recently announced after financing in January, we’re going after what we believe is that deeper tin porphyry, and the new property we acquired to the southwest of Mina Casiterita doesn’t have a kilometer-thick volcanic mountain on top of it.”

Eloro acquired the Mina Casiterita and Mina Hoyada properties in November 2022. Both cover 14.75 square kilometers southwest and west of Iska Iska, bringing the total area controlled by the company to 483.75 square kilometers. Geological mapping, sampling, and geophysical surveys are now in progress on the entire land package across the Iska Iska region, and drilling is planned for Mina Casiterita in Q1-2023.

Dr. Pearson has more than 40 years of direct experience in the exploration and production of minerals worldwide. He played an integral role in the acquisitions of Desert Sun Mining Corp. by Yamana Gold in 2006, and Central Sun Mining by B2 Gold in 2009. Prior to his current role at Eloro, he was the Vice President of Exploration at Desert Sun Mining and Senior Vice President at Central Sun Mining.

For more information, visit the company’s website at www.EloroResources.com.

NOTE TO INVESTORS: The latest news and updates relating to ELRRF are available in the company’s newsroom at https://ibn.fm/ELRRF

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