Mr. Thomas Larsen reports

ELORO RESOURCES AMENDS PAYMENT SCHEDULE FOR ISKA ISKA SILVER-TIN POLYMETALLIC PROJECT, POTOSI DEPARTMENT, BOLIVIA

By mutual agreement with Empresa Minera Villegas SRL, the title holder of the Iska Iska silver-tin polymetallic project in the Potosi Department, southern Bolivia (Iska Iska), the payment schedule in connection with the $4.45-million (U.S.) remaining portion of the aggregate $10-million (U.S.) payment required for Eloro Resources Ltd. to earn a 100-per-cent interest in Iska Iska has been amended, as shown in the attached table.

Concurrently, the Mina Casiterita and Mina Hoyada option agreement (see Eloro's press release dated Nov. 22, 2022) was amended to provide for the company to make a cash payment of $1.8-million (U.S.) within 12 months from the date on which the mining rights for Mina Casiterita and Mina Hoyada are duly obtained and subject to all required regulatory approval, issue the titleholder 200,000 common shares of the company when the transfer of the properties is completed.

About Eloro Resources Ltd.

Eloro is an exploration and mine development company with a portfolio of gold 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 the 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 the La Arena gold mine.

We seek Safe Harbor.