Eloro Resources Ltd. · TSX:ELO
Eloro Resources — Investor Presentation (May 2026)
26 slides from Eloro Resources's investor presentation, May 2026
Slide 1: Giant Silver-tin Polymetallic Discovery in Bolivia
ISKA ISKA Giant Silver-tin Polymetallic Discovery in Bolivia CORPORATE PRESENTATION | May 2026 TSX ELO | FSE P2Q | OTCQX ELRRF
Slide 2: Cautionary Language
Cautionary Language This presentation contains “forward-looking statements” and “forward-looking information” and other risks of the mineral exploration industry as well as those risks discussed in the within the meaning of applicable Canadian securities laws concerning Eloro Resources Ltd. Company’
Slide 3: Investment Highlights
Investment Highlights Total current resource (inferred) Advancing the Iska Iska silver–tin polymetallic project in Potosí, Bolivia 1.25 Billion 358.1 5.75 2.10 incl Large endowment of critical and oz Ag eq Moz Ag Mt Zn Mt Pb strategic metals (Ag–Sn–Zn–Pb) 290,000 t Sn 1.21 Moz Au High-grade Near-sur
Slide 4: Leverage to Silver Commodity
Leverage to Silver Commodity Ticker Project, Owner Category Silver Oz Grade Ton $ Value AgEq Ounce CVE:CKG Metates, Chesapeake Gold Corp. M&I 542 M 12.9 1,302 M 6.96 7 TSE:DSV Cordero, Discovery Silver Corp M&I 493 M 21.0 719 M TSE:ELO Iska Iska, Eloro Resources Ltd Inferred 248 M 8.5 945 M 6 Lowest
Slide 5: 2025: Fifth Consecutive Year of Silver Supply Deficit
2025: Fifth Consecutive Year of Silver Supply Deficit Tightening supply, Eloro is uniquely positioned to rising demand – a strong benefit through scale, grade setup for silver and exploration upside 5
Slide 6: Capital Structure and Ownership
Capital Structure and Ownership TSX: ELO | Frankfurt P2Q (WKNA1JKAT) | OTCQX: ELRRF 17% Shares Issued and Outstanding (May 5, 2026) 119.66M Insiders Warrants ($1.00 to $2.60 on exercise) 10.83M 2% Options and Restricted Share Units (RSUs) and Cartier Silver 9.72M Deferred Share Units (DSUs) 49% Corp
Slide 7: Experienced Leadership
Experienced Leadership Management Team Board of Directors Technical Advisors THOMAS LARSEN B.A. THOMAS LARSEN B.A. RICHARD STONE C.I.M. BILL PEARSON Ph.D., P.Geo. Chairman and CEO Chairman and CEO Senior Technical Advisor PABLO ORDONEZ MILES NAGAMATSU C.P.A., C.A. ALEXANDER HORVATH P.Eng Attorney at
Slide 8: Bolivia, a Prolific Mining Country
Bolivia, a Prolific Mining Country Iska Iska is in the SW part of the Eastern Cordillera which hosts several giant deposits of gold, silver, iron ore, zinc, tin, lead and lithium Cerro Rico de Potosí is the world’s largest silver deposit still producing today even after 2.1 billion ounces mined sinc
Slide 9: Bolivian Infrastructure
Bolivian Infrastructure Easy access to Northern Chilean seaports Iska Iska project close to established domestic paved road and rail transportation routes Two projected rail spur lines and road access for connection to main rail transportation routes to the Northern Chilean ports and to 2 Bolivian s
Slide 10: Developing tin in the Americas
Developing tin in the Americas Bolivia remains significantly underexplored and offers opportunities to find Tier 1 assets Historically a key supplier of tin to the USA, Bolivia continues to play a major role in global tin markets. The country has major opportunities in deeper porphyry-style tin syst
Slide 11: Strong Environmental and Social Governance Program
Strong Environmental and Social Governance Program Eloro Resources is committed to supporting a historical mining region Courses, workshops, materials and other social projects focused on women, children and school groups in the surrounding local communities Built 150 sanitation stations in nearby c
Slide 12: Definitive Option Agreement Completed
Definitive Option Agreement Completed Definitive Option Agreement All payments have been Iska Iska property owner completed made to the title holder Edwin Villegas is the VP and • $10MM USD total purchase price Director of Tupiza Mining Chamber, Department of Potosí • Private land - owner has 100% o
Slide 13: View of Iska Iska Caldera Complex
View of Iska Iska Caldera Complex Iska Iska was never discovered by historic prospecting due to surface leaching that removed all sulphide metals. Nevada-like Terrain at a much higher elevation (4,100m at peak, valley floor 3,000m) No artisanal mining, historical significance community and ESG issue
Slide 14: Property Geology and Mineralization
Property Geology and Mineralization Iska Iska is a major silver-tin polymetallic porphyry-epithermal complex associated with a Miocene collapsed/resurgent caldera, emplaced on Ordovician age rocks with major breccia pipes, dacitic domes and hydrothermal breccias Recent drilling indicates that there
Slide 15: Two Major Potential Deposits at Iska Iska
Two Major Potential Deposits at Iska Iska Eloro is in a unique position of having two discernable different deposit styles juxtaposed against one another; a very large silver- zinc-lead dominant system next to a high-grade tin system. NW SE The intrusion breccia is very likely an offshoot or apophys
Slide 16: Successful Definition Drilling, Santa Barbara
Successful Definition Drilling, Santa Barbara Grades Improvement above Initial MRE post 14,085m program As drill density has increased, the grades, especially for silver and tin, have notably improved. Contained Metal Increase Category Metal Units 2023 2026 % 41% increase in inferred tonnage to 945.
Slide 17: Stepout and Infill Drilling Continues
Stepout and Infill Drilling Continues 20 targets outlined to be drilled and completed by October 2026 Focused on enlarging the indicated resource and to confirm the continuity of mineralization beyond the actual boundaries through 50m-spacing and 25m-spacing drilling. 30,000 meters will be assigned
Slide 18: DSB 87 – Longest & Highest-Grade Tin Intersection
DSB 87 – Longest & Highest-Grade Tin Intersection Increased potential starter pit dimensions by 100m x 100m along and across strike DSB-87 – Infill hole (150m SE of DSB-72), announced September 16, 2025 Intersected 213.0m @ 0.51% Sn & 25.46 g/t Ag within a broader interval of 241.5m grading 0.47% Sn
Slide 19: DSB 93 – Highest Silver Interval to Date at Iska Iska
DSB 93 – Highest Silver Interval to Date at Iska Iska Eloro Resources Intersects Highest Silver Interval to Date at its Iska Iska Project, Southern Bolivia with 72 metres grading 294.81 g/t Silver DSB-93 – Infill hole (107m NE of DSB-61), December 9, 2025 Intersected the highest silver interval obta
Slide 20: Potential Resource Upgrade and Expansion Possibilities
Potential Resource Upgrade and Expansion Possibilities Distribution of Metal Domains in the Optimized Pit Optimized Pit Showing Mineral Resource Classification Major mineralized structural corridor that is Multiple areas within the Caldera have yet to be 500m wide and extends for 2km along strike dr
Slide 21: Exploration Timeline
Exploration Timeline OCTOBER DSB-88 Best zinc hole to date, APRIL JANUARY MARCH JANUARY 190.5m 2.35% Zn (103 Ag eq/t) Micon Technical DHK-21 Uplist company 6.3 t Bulk Sample Report “the we knew we have to TSX (179.5 Ag eq/t) something big hole” Drilled: 117,000m 2020 2021 2023 2024 2025 2026 JANUARY
Slide 22: Well Positioned to Drive Shareholder Value
Well Positioned to Drive Shareholder Value ISKA ISKA demonstrates the Key 2026 Catalysts potential to host two major Updated Mineral Resource Estimate Critical Mineral deposits • Preliminary Economic Assessment (PEA) of Silver and Tin (> 1Bn tonnes) • Continued drilling results Mining-friendly juris
Slide 23: Appendix
Appendix 23
Slide 24: Top 12 Iska Iska Intercepts
Top 12 Iska Iska Intercepts Intercept Grade Grade x Ag Sn Zn Pb Date Drill Hole ID (m) (g Ag Eq/t) Intercept (g/t) (%) (%) (%) 31-Jan-23 DHK-27 325.48 136.38 44,388 69.80 0.12 1.22 0.49 21-Jul-22 DSBU-10 349.08 118.24 41,276 44.69 0.14 1.05 0.77 20-Sep-22 DSB-30 441.21 93.19 41,117 9.45 0.07 1.53 0.
Slide 25: Tin Supply / Demand Forecast
Tin Supply / Demand Forecast Growing global tin deficit underscores the strategic value of new high-grade Refined Tin Supply Demand Forecast tin discoveries. Source: International Tin Association Penang Conference 2024 25
Slide 26: Contact
TSX ELO | FSE P2Q | OTCQX ELRRF CANADA BOLIVIA Thomas Larsen Dr. Osvaldo Arce Ph.D., P.Geo. CEO Executive V.P. Exploration and Latin American Operations, Minera Tupiza S.R.L. Jimena Moran Tel: +59 171 591-004 V.P. Marketing and Logistics – oarce@elororesources.com Executive Assistant Bilingual Toll