Eloro Resources Ltd. announced the final assay results for the last six (6) diamond drill holes in its eleven (11) hole 5,267.7m definition drill program on the Iska Iska silver-tin polymetallic project in the Potosi Department of southwestern Bolivia. The definition diamond drill program focussed on upgrading and expanding the higher-grade Polymetallic (Ag-Zn-Pb) Domain Type inferred mineral resource, which as previously reported contains an inferred mineral resource of 132 million tonnes at 24.3 g Ag/t, 1.11% Zn and 0.50% Pb (72.06 g Ag eq/t) at an NSR cutoff of USD 25/t. The net NSR value of this higher-grade resource is USD 34.40/t which is 3.75 times the estimated operating cost of USD 9.20/t. Several of these holes also tested the adjacent Tin (Sn-Ag-Pb) Domain where high values of silver (Ag) have previously also been obtained in addition to tin (Sn). Drill hole locations were planned to fill-in major gaps in the block model as well as upgrade and expand the higher-grade zone both along and across strike in the general area of the potential starter pit.

As noted by Micon International Limited, authors of the National Instrument 43-101Technical Report detailing the initial Iska Iska MRE, the highest-grade areas are also the best drilled. As drill density in the deposit is improved, it is expected that grade will increase due to better sample density. Results previously reported and results reported herein confirm that this is likely the case.

The results of the definition drill program highlight the potential to significantly expand the higher-grade Sn resource to the west of the current potential pit and to incorporate this new potential resource area into consideration for the PEA. The following is a summary of significant diamond drill results from the six holes: Hole DSB-66 intersected several long well mineralized intervals as follows: 57.62g Ag/t, 1.26% Zn, 0.94% Pb and 0.12% Sn (139.94g Ag eq/t) over 136.11m from 137.75m to 273.86m including: 136.81g Ag/t, 2.00% Zn, 1.38% Pb and 0.17% Sn (255.19g Ag eq/t) over 34.77m from 187.64m to 222.41m. 24.67g Ag/t, 1.08% Zn, 0.83% Pb and 0.08% Sn (94.46g Ag eq/t) over 86.39m from 288.92m to 375.31m including: 69.37g Ag/t, 0.41g Au/t, 1.88% Zn, 3.68% Pb and 0.32% Sn (272.27g Ag eq/t) over 6.08m from 307.15m to 313.23m, 23.59g Ag/t, 2.14% Zn, 1.57% Pb and 0.15% Sn (159.64g Ag eq/t) over 6.15m from 328.23m to 334.38m, and 99.40g Ag/t, 1.60% Zn, 1.06% Pb and 0.10% Sn (187.52g Ag eq/t) over 12.24m from 360.02m to 372.26m; 7.46g Ag/t, 2.51% Zn, 1.02% Pb and 0.06% Sn(129.90g Ag eq/t) over 74.85m from 415.85m to 490.70m; 10.80g Ag/t, 0.12 g Au/t, 4.96% Zn, 1.49% Pb and 0.06% Sn (229.62g Ag eq/t) over 16.86m from 430.99m to 447.85m; 13.86g Ag/t, 4.20% Zn, 2.35% Pb and 0.34% Sn(277.75g Ag eq/t) over 7.76m from 457.31m to 465.07m.

Hole DSB-65 collared 100m west of hole DSB-66 intersected the highest-grade silver sample intersected thus far at Iska Iska in an 80+m wide well mineralized zone as follows: 118.86g Ag/t, 0.35% Zn, 0.35% Pb and 0.15% Sn (152.29g Ag eq/t) over 81.28m from 353.49m to 434.77m including: 5,080g Ag/t, 0.12 g Au/t, 0.26% Zn, 1.34% Pb, 1.53% Cu and 1.27% Sn (4,746.46g Ag eq/t) over 1.46m from 362.53m to 363.99m; Cutting of this very high Ag sample to 1,000g Ag/t based on a statistical probability plot yields a still high average for the 81.28m interval of 45.58 g Ag/t with an overall grade of 87.80 g Ag eq/t; This very high-grade sample highlights the potential for Iska Iska to host extraordinary grades within the overall extensive mineralized system. Hole DSB-67 collared 200m south-southwest of DSB-66 intersected a wide zone of mineralization grading 8.17 g Ag/t, 1.40% Zn, 0.48% Pb and 0.06% Sn (79.08g Ag eq/t) over 236.13m from 240.04m to 476.17m including higher grade zones of: 2.17g Ag/t, 0.16 g Au/t, 2.65% Zn, 0.52% Pb and 0.06% Sn (118.18g Ag eq/t) over 9.03m from 249.09m to 258.12m and 28.10g Ag/t, 4.25% Zn, 1.67% Pb and 0.17% Sn (245.05g Ag eq/t) over 19.45m from 434.06m to 453.51m; Hole DSB-60 intersected a 158.58m long zone of lower grade mineralization with higher-grade zones as follows: 16g Ag/t, 0.66% Zn, 0.41% Pb and 0.09% Sn (63.23g Ag eq/t) over 158.58m from 15.33m to 173.91m including: 23.31g Ag/t, 1.18% Zn, 0.56% Pb and 0.16% Sn (105.56 g Ag eq/t) over 6.16m from 34.99m to 41.15m and 115.54g Ag/t, 1.45% Zn and 1.67% Pb (201.17g Ag eq/t) over 4.54m from 139.32m to 143.86m; Hole DSB-63, the eastern most hole in the definition drill program, intersected a significant Sn intersection of 23.37 g Ag/t, 1.77% Zn. 1.22% Pb and 0.51% Sn (205.57g Ag eq/t) over 23.02m from 446.10m to 469.12m.

This area is in the Polymetallic (Ag-Zn-Pb) Domain where Sn values have typically been low. This suggests potential to extend the higher-grade Sn zone further east. Hole DSB-64, the southwestern most hole in the definition drill program, intersected 113.33g Ag/t and 0.12 g Au/t (110.97 g Ag eq/t) over 22.91m from 35.22m to 58.13m and 172.37 g Ag/t and 0.17% Pb% (161.78g Ag eq/t) over 13.46m from 135.83m to 149.29m.

This hole was terminated at 240m due to faulting short of its planned depth of 500m.