Scandium Canada Ltd. press release

InvestorNewsBreaks - Eloro Resources Ltd. (TSX.V: ELO) (OTCQX: ELRRF) (FSE: P2QM) Announces Further Amendments to Iska Iska Payment Schedule

2024-03-14

TSXV - TSX Venture Exchange · Scandium · Rare Earth Elements · Gold · Canada · M&A / Asset Transactions

InvestorNewsBreaks – Eloro Resources Ltd. (TSX.V: ELO) (OTCQX: ELRRF) (FSE: P2QM) Announces Further Amendments to Iska Iska Payment Schedule

Eloro Resources (TSX: ELO) (OTCQX: ELRRF) (FSE: P2QM), a leading exploration and mine development company, has amended the payment schedule for its Iska Iska silver-tin polymetallic project. The amendment was made by mutual agreement with Empresa Minera Villegas S.R.L., title holder of the project, which is located in the Potosi Department in southern Bolivia. This is the second time in the past month that Eloro Resources has announced amendments to the payment schedule. According to the announcement, Eloro’s Bolivian subsidiary, Minera Tupiza S.R.L., has made advance payments of $4.9 million to date toward the $10 million option payment. The schedule amended by mutual agreement indicates that Eloro, through Minera Tupiza, will make an additional $500,000 payment on or before April 30, 2024, with $1,000,000 being paid on or before May 30, 2025, and the remaining $3.6 million due on or before July 6, 2025.

To view the full press release, visit https://ibn.fm/UUVeU

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, through 98%-owned Minera Tupiza SRL, has an option to acquire a 100% interest in the highly prospective Iska Iska Property, which can be classified as a polymetallic epithermal-porphyry complex, a significant mineral deposit type in the Potosi Department in southern Bolivia. A recent NI 43-101 technical report on Iska Iska, which was completed by Micon International Limited, 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 kilometers south of the Lagunas Norte Gold Mine and the La Arena Gold Mine. For more information about the company, visit 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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