Eloro Resources Intersects 87.10 Metres Grading 73.26 g/t Silver and 0.18% Tin; and 17.90 Metres Grading 190.50 g/t Silver and 0.45% Tin in Expansion Drilling at Its Iska Iska Project, Potosi Department, Southern Bolivia

Eloro Resources Ltd. (ELO) has released assay results from three expansion diamond drillholes—DSB-94, DSB-95, and DSB-96—at the Santa Barbara starter-pit area of its Iska Iska project in Potosí, Bolivia. These holes represent the first three of a planned approximately 10,000-meter, 30-hole expansion program. DSB-96 was suspended for approximately 45 days due to technical and logistical issues and remains in progress.

The reported intervals, stated as core length, are as follows:

• DSB-96 (central Polymetallic Domain): 126.10m @ 54.92 g/t Ag, 0.24% Pb, 0.10% Sn from 40.40m, including 87.10m @ 73.26 g/t Ag, 0.14% Pb, 0.18% Sn.
• DSB-96: 48.00m @ 83.28 g/t Ag, 0.30% Sn from surface (0m), including 17.90m @ 190.50 g/t Ag, 0.45% Sn from 24.00m.
• DSB-96: 46.50m @ 23.77 g/t Ag from 228.00m (including 12.00m @ 32.25 g/t Ag; 7.50m @ 34.60 g/t Ag + 0.11% Sn); 30.00m @ 36.45 g/t Ag from 385.50m.
• DSB-94 (western Silver-Tin Domain): 79.50m @ 30.83 g/t Ag from 210.40m, including 42.00m @ 38.98 g/t Ag; 43.50m @ 0.16% Sn from 343.90m; 7.50m @ 71.96 g/t Ag from 330.40m.
• DSB-95 (eastern Gold-Silver-Zn-Pb Epithermal Domain): 6.00m @ 1.15 g/t Au, 42.50 g/t Ag, 8.07% Zn, 1.23% Pb from 115.50m; 7.50m @ 0.48 g/t Au, 1.52% Zn, 0.46% Pb from 31.50m; 3.00m @ 48.50 g/t Ag, 11.37% Zn, 2.30% Pb from 378m; 7.50m @ 2.61% Zn, 0.32% Pb, 10.50 g/t Ag from 414m.

Eloro stated that the results confirm higher-grade intercepts and a consistent mineralization trend in the central part of the Potential Starter Pit. The company noted that the zones remain open in all directions and at depth, supporting plans to expand or upgrade the Indicated Resource ahead of the Preliminary Economic Assessment (PEA).

Eloro Resources Ltd. (ELO) released drill results from an advanced explorer that already holds a large defined resource of 85.17 Mt Indicated @ 40 g/t Ag and 945.43 Mt Inferred, with funding in place for a pending PEA. Materiality is measured against this resource and the PEA rather than against zero. Three step-out holes repeated the established grade tenor, adding above-resource-grade silver (~73 g/t Ag over 87m) and tin (0.30% Sn over 48m) near surface. These results are supportive and incremental, helping to convert Inferred to Indicated resources, but they do not change the perceived scale or grade of a system already demonstrated at hundreds of metres of width and ~1.4km of strike.

The market has already digested several prior results, including DSB-92 in Nov 2025, DSB-93’s 72m @ 294.81 g/t Ag in Dec 2025, and the April 2026 MRE. The stock ran from ~$1.19 in Nov 2025 to a peak of $3.29 in Jan 2026 on those results, then round-tripped to $1.62. This is down ~51% from the high and below the ~$2.12 level at the April MRE. The current price assumes relatively little about drilling, removing the negative case of being materially weaker than an embedded anchor. However, it also means the bar for a positive re-rate is that the result be materially better than anything previously demonstrated. DSB-96 is good, but below the DSB-93/DSB-92 watermark.

Eloro Resources Ltd. (TSX: ELO; OTCQX: ELRRF; FSE: P2QM) is an exploration and mine-development company. Its flagship asset is the Iska Iska silver-tin polymetallic project in Potosí, southern Bolivia. This road-accessible, royalty-free caldera-hosted epithermal-porphyry complex is located 48km north of Tupiza and is held via Minera Tupiza SRL with a 99% joint venture interest and 100% economic participation. The company also holds an 82% interest in the La Victoria gold/silver project in Peru, which was recently impaired by $116,608 in the latest filing due to a lack of planned spend, along with properties in Quebec.

As of April 2026, the Mineral Resource Estimate (MRE) for Iska Iska includes:

• 85.17 Mt Indicated @ 40 g/t Ag, 1.21% Zn, 0.71% Pb
• 945.43 Mt Inferred @ 8.5 g/t Ag, 0.47% Zn, 0.16% Pb, 0.03% Sn, 0.04 g/t Au

The company currently has no production and no revenue. The capital structure as of August 25, 2026, consists of 119.67 million shares outstanding, 10.82 million warrants priced between $1.00 and $2.60, and 9.72 million options, RSUs, and DSUs, resulting in approximately 140.4 million fully diluted shares. The company reports nil debt, with prior-period context showing approximately $21.8 million in cash as of the latest reported quarter, though this figure was not disclosed in this specific release.