Mr. Thomas Larsen reports

ELORO RESOURCES ANNOUNCES BOUGHT DEAL LIFE PRIVATE PLACEMENT FOR GROSS PROCEEDS OF C$10.0 MILLION

Eloro Resources Ltd. has entered into an agreement with Red Cloud Securities Inc. pursuant to which Red Cloud and Cantor Fitzgerald Canada Corp., as co-lead underwriters and joint bookrunners on behalf of a syndicate of underwriters, have agreed to purchase for resale 3,846,200 common shares of the company at a price of $2.60 per offered share on a bought deal basis in a private placement for gross proceeds of $10,000,120.

The company will grant to the underwriters an option, exercisable up to 48 hours prior to the closing date (as defined herein), to purchase for resale up to an additional 769,300 offered shares at the offering price for additional gross proceeds of up to $2,000,180. The underwritten offering and the offered shares issuable upon exercise of the overallotment option shall be collectively referred to as the offering.

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.

Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106, Prospectus Exemptions, up to 2,307,692 offered shares will be offered for sale to purchasers resident in all of the provinces of Canada except Quebec pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, as amended by Coordinated Blanket Order 45-935, Exemptions from Certain Conditions of the Listed Issuer Financing Exemption. The offered shares sold pursuant to the listed issuer financing exemption are expected to be immediately freely tradeable in accordance with applicable Canadian securities legislation if sold to purchasers resident in Canada. The offered shares will also be offered in the United States or to, or for the account or benefit of, U.S. persons, by way of private placement pursuant to the exemptions from the registration requirements provided for under the United States Securities Act of 1933, as amended, and in jurisdictions outside of Canada and the United States on a private placement or equivalent basis, in each case in accordance with all applicable laws, provided that no prospectus, registration statement or other similar document is required to be filed in such jurisdiction. The offered shares will be offered to purchasers outside of Canada pursuant to an exemption from the prospectus requirements in Canada available under OSC Rule 72-503 and, accordingly, the offered shares to be issued pursuant to the offering to purchasers outside of Canada are not expected to be subject to a four-month hold period in Canada. All offered shares not issued pursuant to the listed issuer financing exemption or under OSC Rule 72-503 will be subject to a hold period in Canada in accordance with applicable Canadian securities law, expiring four months and one day following the closing date.

There is an offering document related to the offering that can be accessed under the company's profile on SEDAR+ and on the company's website. Prospective investors should read this offering document before making an investment decision.

The offering is scheduled to close on March 6, 2026, or such other date as the company and Red Cloud may agree. Completion 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.

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, through its Bolivian subsidiary, Minera Tupiza SRL, has a 99-per-cent joint venture interest and a 100-per-cent economic participation 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 approximately 50 kilometres south of the Lagunas Norte gold mine and the La Arena gold mine.

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