Multiple Intersections In High Grade Feeder Zone - Santa Barbara Target Area

TORONTO - Eloro Resources Ltd. reported on additional diamond drill holes from its on-going drilling program at the Iska Iska silver-tin polymetallic project in the Potosi Department, southern Bolivia. Six of these holes (DSB-35 and DSB-37 to DSB-41) tested the south-southeastern extension of the high-grade feeder zone at Santa Barbara while METSBUG-03 is a metallurgical hole drilled from the Santa Barbara adit underground drill bay. Hole DM2-01 is a reconnaissance drill hole near the Mina 2 adit in the southeast part of the property. To-date, the Company has completed 84,495m in 122 drill holes at Iska Iska which completes the definition drill program in the Santa Barbara target area.

Tom Larsen, CEO, said, “Now that the reconnaissance drill holes just released, DSB-38, -39 and -40, are adding a further 500 meters of mineralized strike length, these latest results should add substantial tonnage to our resource model. Infill drilling at a later date should further upgrade and expand the higher metal value zonations that have become characteristic of the Iska Iska system. Given the guidance of our geophysics, if one were to draw a line from Huayra Kasa in the north of the Iska Iska Caldera southwest to Mina Casiterita one can reasonably assume up to a 3 kilometer potential strike length of mineralization given the magnetic data to date. The current strike length, width and depth of the Santa Barbara complex, which is still open in all directions, is pointing to the strong possibility that Iska Iska will become a giant “bonanza style” Bolivian polymetallic discovery.”

Six holes (DSB-35, DSB-37 to DSB-41) tested the south-southeastern extension of the high-grade feeder zone at Santa Barbara. Holes DSB-38, DSB-39 and DSB-40 were drilled on an approximately 1km long section across the central part of the caldera valley approximately 500m south-southeast of the underground drill bay in the Santa Barbara adit. The three holes were all drilled at an azimuth of 2250 with a dip of -600. Collectively, these holes intersected many significant intersections within altered and mineralized dacite.