Mr. Thomas Larsen reports

ELORO RESOURCES ANNOUNCES CLOSING OF C$14.0 MILLION BOUGHT DEAL LIFE PRIVATE PLACEMENT

Eloro Resources Ltd. has closed its previously announced bought deal private placement for gross proceeds of $14,001,250, which includes the exercise in full of the overallotment option. Pursuant to the offering, the company sold 12,175,000 units of the company at a price of $1.15 per unit. Red Cloud Securities Inc. acted as sole underwriter and bookrunner under the offering.

Each unit consists of one common share of the company and one-half of one common share purchase warrant. Each whole warrant entitles the holder to purchase one common share of the company at a price of $1.60 at any time on or before Sept. 4, 2028.

The company intends to use the net proceeds of the offering for continued exploration and development of the Iska Iska project in southern Bolivia, as well as general corporate purposes and working capital, as is more fully described in the amended offering document (as defined herein).

In accordance with National Instrument 45-106 (Prospectus Exemptions), the units were issued to Canadian purchasers pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, as amended by co-ordinated blanket order 45-935 (Exemptions from Certain Conditions of the Listed Issuer Financing Exemption). The unit shares and the warrant shares underlying the units sold to purchasers resident in Canada are immediately freely tradable in accordance with applicable Canadian securities legislation.

As consideration for its services, Red Cloud received aggregate cash fees of $980,087.50 and 852,250 non-transferable common share purchase warrants. Each broker warrant is exercisable into one common share at the offering price at any time on or before Sept. 4, 2028.

There is an amended offering document dated Aug. 27, 2025, related to the offering that can be accessed under the company's profile at SEDAR+ and on the company's website.

The closing of the offering remains subject to the final approval of the Toronto Stock Exchange.

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.

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