Eloro Resources Announces Commencement of Expansion Diamond Drilling Program Based on Positive Updated MRE Results at Its Iska Iska Project, Southern Bolivia

About this update from Eloro Resources Ltd.

Key Program Objectives: Expansion Drill Program: The 2026 drilling program at Iska Iska, as part of the Preliminary Economic Assessment (PEA) process, follows the successful completion of the Updated Mineral Resource Estimate (MRE) in late April 2026. Its main objectives are to strategically expand and upgrade the 85.17 million tonnes of Indicated Resources grading 78.38 Ag g/t Eq. and 945.43 million tonnes of Inferred Resources grading 22.04 Ag g/t Eq. in the Updated MRE. Indicated Resource Definition: Targeted step-out drilling with 50m spacing within the higher-grade core area of the Potential Starter Pit, aiming to further expand the Initial Indicated Resource. Strike and Depth Extensions: Testing the potential down-dip and strike length of known higher-grade Silver-Tin (Ag-Sn)-polymetallic shoots which remain open laterally and vertically. Trend Expansion: Follow up on successful 2024-2025 step-out drilling that extended the mineralized envelope down-dip and along a strike length of approximately 1.4 kilometres to the east and west. Contractor - Major Drilling Group: Major Drilling Group International Inc. is the process of mobilizing two diamond drill rigs to the Iska Iska project, with a third drill expected to be added in the next three months. Toronto, Ontario--(Newsfile Corp. - May 7, 2026) - Eloro Resources Ltd. (TSX: ELO) (OTCQX: ELRRF) (FSE: P2QM) ("Eloro" or the "Company") is pleased to announce the commencement of its expansion drilling program, which is focused on upgrading and expanding higher grade Silver-Tin (Ag-Sn)-Polymetallic mineralization at its 100% owned Iska Iska Project in Southern Bolivia. Major Drilling Group International Inc. is in the process of mobilizing two diamond drill rigs to the Iska Iska Project, with a third drill expected to be added in the next three months. The drilling campaign comprises 40,000m of diamond drilling in approximately 75 holes, following the Company's recent definition drilling program that intersected mineralization over a strike length of approximately 1.4 kilometres. Initially, 40 holes totalling 18,250m will be drilled and then it will be followed up by approximately 45 holes totalling 21,750m. Tom Larsen, CEO of Eloro, commented: "We are excited to be commencing our expansion drilling program, a major milestone in advancing the Iska Iska Project, after the release of the successful Updated M...

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