Why Invest in ELORO?

Advancing the Iska Iska silver–tin polymetallic project in Potosí, Bolivia

Large endowment of critical and strategic metals (Ag–Sn–Zn–Pb)

High-Grade Near-Surface Indicated Resources Zone

  • 85.2 Mt @ 40 g/t Ag, 1.21% Zn, 0.71% Pb
  • Multiple definition drill programs expanding and upgrading this higher-grade area
  • Assays to date have delivered high grade intersections especially for Ag and Sn
  • April 2026 MRE focused on expanding and upgrading to 85.17 Mt Indicated of 78.38 g/t Ag Eq and 943.43 Mt Inferred Resources grading 22.04 g/t Ag Eq

Total Current Resource (inferred)

1.25 Billion oz Ag eq, including
358.1
Moz Silver
5.75
Mt Zinc
2.10
Mt Lead
290,000
t Tin
1.21
Moz Gold

Iska Iska Discovery Timeline

  • 2020

    Major breccia pipe discovery with extensive silver-polymetallic mineralization and high-grade gold-bismuth zone

    Drilled to date
    4,422.5 m
    in 18 holes
  • 2021

    Discovery hole DHK-15 intersects 257.5 m grading 129.6 g Ag eq/t in the Santa Barbara Breccia Pipe

    Drilled to date
    40,467.87 m
    in 73 holes
  • 2022

    High-Grade Feeder Zone extended; Santa Barbara mineralized strike confirmed to 1,500 m

    Drilled to date
    84,495.47 m
    in 122 holes
  • 2023

    DSB-61 returns 62.84 m grading 279.22 g Ag/t
    in potential starter pit area

    Drilled to date
    103,198.47 m
    in 152 holes*

    *three metallurgical holes

  • 2024

    Definition drilling confirms broad silver-tin polymetallic continuity in potential starter pit area

    Drilled to date
    107,217.27 m
    in 160 holes
  • 2025

    DSB-93 returns highest silver interval to date:
    72 m grading 294.81 g/t Ag

    Drilled to date
    117,284.27 m
    in 179 holes
  • 2026

     

    40,000 m planned
    in ~75 planned holes

Bolivia, a Prolific Mining Country

Modern mining laws and a supportive political environment

  • Iska Iska is in the SW part of the Eastern Cordillera which hosts several giant deposits of gold, silver, iron ore, zinc, tin, lead and lithium
  • Cerro Rico de Potosí is the world’s largest silver deposit still producing today even after 2.1 billion ounces mined since 1545
  • Bolivian tin belt is one of the largest tin metallogenic belts worldwide accounting for 6% of global tin production, 5% of silver, 4% of zinc, and 2% of tungsten (USGS 2024)

 

A Tightening Silver Market: Deficits Continue Into 2026

  • Tightening supply, rising demand – a strong setup for silver price going forward
  • Eloro is uniquely positioned to benefit through scale, grade and exploration upside

Silver: A Key Decarbonization Metal

Tightening supply. Rising industrial demand. Meaningful silver leverage through one of the largest emerging silver-tin polymetallic systems in Bolivia.

  • Silver demand exceeded supply for the fifth consecutive year in 2025, reinforcing a tightening global market.
  • Total silver demand reached approximately 1.13 billion ounces in 2025, supported by industrial, investment and consumer uses.
  • Industrial demand remained a major driver at 657.4 million ounces, reflecting silver’s role in modern technologies.
  • Silver is essential to solar power, electronics, automotive systems, power grids and AI-related data infrastructure because of its exceptional conductivity.
  • With mine supply expected to remain constrained, silver is forecast to stay in deficit, supporting a strong long-term market backdrop.

Developing Tin in the Americas

Bolivia remains significantly underexplored and offers opportunities to find Tier 1 assets

  • Historically a key supplier of tin to the USA, Bolivia continues to play a major role in global tin markets.
  • The country has major opportunities in deeper porphyry-style tin systems and polymetallic deposits

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