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Eloro Resources Completes Option Payments on the Iska Iska Silver-Tin Polymetallic Project, Potosi Department, Bolivia
Toronto, Ontario--(Newsfile Corp. - January 29, 2026) - Eloro Resources Ltd. (TSX: ELO) (OTCQX: ...
About this update from Eloro Resources Ltd.
[{"type":"text","content":"Eloro Resources Completes Option Payments on the Iska Iska Silver-Tin Polymetallic Project, Potosi Department, BoliviaToronto, Ontario--(Newsfile Corp. - January 29, 2026) - Eloro Resources Ltd. (TSX: ELO) (OTCQX: ELRRF) (FSE: P2QM) (\"Eloro\", or the \"Company\") is pleased to announce that it has paid all option payments payable to Empresa Minera Villegas SRL (\"Minera Villegas\") to complete the option held by its Bolivian subsidiary, Minera Tupiza SRL (\"Minera Tupiza\") to acquire a 99% joint venture interest in the Iska Iska silver-tin polymetallic project in Potosí, Bolivia (\"Iska Iska\"). Eloro made the final payment of US$1,150,000 today and, in accordance with an Addendum to the Option Agreement, Eloro transferred US$1,800,000 into a trust account for payment to Minera Villegas within 12 months after Minera Villegas obtains the mining rights over the Mina Casiterita and Mina Hoyada mining areas. Through a series of strategic regulatory and commercial agreements Minera Tupiza SRL now holds a 99% joint venture interest and has 100% economic participation and full operational control of the Iska Iska project. The Company, through its Bolivian subsidiary, Minera Tupiza, has formalized an Addendum to the Joint Venture Agreement with Minera Villegas, the Iska Iska titleholder. Pursuant to this Addendum, Minera Tupiza's participation joint venture interest is set at 99%, with Minera Villegas retaining a 1% joint venture interest. This revised structure ensures that Eloro maintains full operational control and regulatory alignment while complying with the applicable provisions of the Bolivian Mining Law. The Addendum will be filed with the relevant Bolivian mining authorities for approval in the ordinary course and in accordance with applicable regulations.Tom Larsen, Eloro's CEO, commented: \"Completion of the option payments represents a major corporate and strategic milestone for Eloro. The streamlined ownership and control structure aligns regulatory compliance with operational efficiency, eliminates economic uncertainty, and positions the Company to advance Iska Iska with maximum flexibility and clarity as development activities continue.\"About Eloro Resources Ltd.Eloro is an exploration and mine development company with a portfolio of precious and base-metal properties in Bolivia, Peru and Quebec. Eloro, through i...