Mr. Thomas Larsen reports

ELORO RESOURCES ANNOUNCES $2,500,000 NON-BROKERED PRIVATE PLACEMENT OFFERING

Eloro Resources Ltd. is proceeding with a non-brokered private placement offering of up to 2,631,579 units of the company at a price of 95 cents per unit for aggregate gross proceeds of up to $2.5-million.

Each unit will consist of one common share of the company and one-half of one common share purchase warrant of the company. Each warrant will entitle the holder thereof to acquire one common share at an exercise price of $1.40, at any time on or before the date which is 36 months following the closing date (as herein defined).

In connection with the offering, the company may pay cash finders' fees and advisory fees to certain arm's-length parties.

The company intends to use the net proceeds from the offering for continued exploration and development of the Iska Iska project, and general corporate purposes and working capital.

The offering is scheduled to close on May 2, 2025, or such other date as the company shall determine. Closing of the offering is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange.

All securities issued pursuant to the offering will be subject to a hold period of four months plus a day from the date of issuance.

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 has an option to acquire a 100-per-cent 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 National Instrument 43-101 technical report on Iska Iska, which was completed by Micon International Ltd., 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-per-cent interest in La Victoria gold/silver project, located in the north-central mineral belt of Peru about 50 kilometres south of the Lagunas Norte gold mine and La Arena gold mine.

We seek Safe Harbor.