Eloro Resources Further Expands Major Tin Zone with Significant Tin Intersections Highlighted by 49.5m grading 0.55% Sn within 91.5m grading 0.34% Sn in its Definition Drilling Program at its Iska Iska Deposit, Potosi Department, Bolivia

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• This hole DSB-74, located 100m southeast of discovery hole DSB-72, contains a second long deeper intersection of 103.5m grading 0.31% Sn including 28.5m grading 0.44% Sn.

• High grade tin mineralization in Holes DSB-74 and discovery hole DSB-72 occurs as visible coarse-grained high temperature cassiterite which is likely to be amenable to gravity separation.

• Tin mineralization is hosted in an extensive intrusion breccia unit (TIB) that is approximately 750m long by 450m wide and extends to a depth of at least 700m. Previous wide space reconnaissance drilling has intersected a number of significant Sn intersections in this breccia unit which is very under-drilled.

• The intrusive breccia is very likely an offshoot or apophysis from a large tin porphyry at depth. The likely top of this tin porphyry is marked by a highly conductive zone that is interpreted as a pyrite-pyrrhotite halo around this porphyry. Similar pyritic halos have been reported from other major tin deposits in the Bolivian Tin Belt.

• With this discovery and expansion of a presumed shallow level apophysis of a tin porphyry at depth, Eloro is in a unique position of having two discernable different deposit styles juxtaposed against one another; a very large silver-zinc-lead dominant system next to a high-grade tin system. While these two systems are likely genetically related, this means that the Company may potentially have two world class deposits on the same property.

TORONTO, Feb. 20, 2025 (GLOBE NEWSWIRE) -- Eloro Resources Ltd. (TSX: ELO; OTCQX: ELRRF; FSE: P2QM) ("Eloro”, or the "Company”) is pleased to announce further assay results from its definition diamond drilling program in the potential Santa Barbara starter pit area in the Iska Iska silver-tin polymetallic project in the Potosi Department of southwestern Bolivia. To date 5,799.4m of diamond drilling have been completed in eleven (11) holes. PQ core size has been used in the majority of holes in this program to obtain larger, more representative core samples.

Hole DSB-74 is the second hole completed into the tin domain and was collared 100m southeast of discovery hole DSB-72. Hole DSB-73 is on the northwest edge of the Ag-Zn-Pb polymetallic domain. Table 1 below lists significant results for these holes and Figure 1 shows locations of all the definition drill holes completed to date. Silver equivalent values (g Ag eq/t) have been calculated using 3-year average metal prices and preliminary metallurgical recoveries (see note below Table 1 for more information). Table 2 lists the coordinates of the drill holes completed.

Hole DSB-74, collared 100m southeast of previously reported of tin discovery drill hole DSB-72 (see Eloro press release of January 23, 2025) returned a long high grade tin intersection grading 0.55% Sn over 49.50m from 76.40m to 125.90m within 91.50m grading 0.34% Sn from 58.40m to 149.90m. Hole DSB-74 contains a second long deeper intersection of 103.5m grading 0.31% Sn from 181.40m to 284.90m, including 28.5m grading 0.44% Sn from 197.90 to 226.40m.

High grade tin mineralization in Holes DSB-74 and DSB-72 occurs as visible coarse-grained high temperature cassiterite which is likely to be amenable to gravity separation. Core from these holes will be used for additional metallurgical testing.

Tin mineralization is hosted in an extensive intrusion breccia unit (TIB) that is approximately 750m long by 450m wide and extends to a depth of least 700m. Previous wide space reconnaissance drilling has intersected a number of significant Sn intersections (see Eloro press release dated January 23, 2025) in this breccia unit which is very under-drilled.

The intrusive breccia is very likely an offshoot or apophysis from a large tin porphyry at depth. The likely top of this tin porphyry is marked by a highly conductive zone that is interpreted as a likely pyrite-pyrrhotite halo around this porphyry. Similar pyritic halos have been reported from other major tin deposits in the Bolivian Tin Belt.

Tom Larsen, Eloro's CEO, commented: "Hole DSB-74 located 100 meters southeast of high-grade tin hole DSB-72 demonstrates continuity of this evolving coarse grained cassiterite-rich tin zone within the large intrusion breccia system which is approximately 750m long by 450m wide and extends to a depth of at least 700m. Coarse grained cassiterite is readily amenable to gravity separation in the beneficiation process which will give rise to higher recoveries than the 50 percent figure currently being used for tin in the Company's calculations for overall metal silver equivalent values per tonne.”

Mr. Larsen further noted that: "The Company's next phase drilling program will focus on the expansion of this large coarse grained cassiterite tin corridor that could be significant in determining overall metal value and economics in the PEA.”

Hole DSB-73 is on the northern edge of the Ag-Zn-Pb polymetallic domain where it partially overlaps with the tin domain. This hole intersected 36.00m grading 13.46 g Ag/t, 0.86% Zn, 0.19% Pb and 0.15% Sn (74.09 g Ag eq/t) from 97.10 to 133.10m including a higher-grade section of 16.50m grading 15.91 g Ag/t, 1.13% Zn, 0.20% Pb and 0.25% Sn (105.84g Ag eq/t) from 115.10m to 131.60m.

Table 1: Definition Diamond Drill Results as of February 20, 2025, Santa Barbara, Iska, Iska

Note: True width is approximately 80% of core length. Silver equivalent (Ag eq) grades are calculated using 3-year average metal prices of Ag = US$24.14/oz, Zn = US$1.36/lb , Pb = 0.98/lb and Sn = US$13.74/lb, and preliminary metallurgical recoveries of Ag = 88%, Zn = 87%, Pb= 80% and Sn = 50%. In selecting intervals, a cutoff grade of 30 g Ag eq/t has been used. Lower grade material may be included in intersections where geological continuity is warranted.

Figure 1: Location Map of Definition Diamond Drill Holes, Santa Barbara zone, Iska Iska. The yellow circle highlights the location of the holes in this release.

Table 2: Summary of Diamond Drill Hole Coordinates for Drill Holes Reported, Completed and in Progress at Iska Iska as of February 20, 2025