Eloro Resources Ltd. Announces Acquisition of Shares and Warrants of Cartier Silver Corporation

TORONTO, Oct. 07, 2025 (GLOBE NEWSWIRE) -- Eloro Resources Ltd. (TSX: ELO; OTCQX: ELRRF; FSE: P2QM) (“Eloro”, or the “Company”). In accordance with regulatory requirements, the Company (the “Acquiror”) announces the acquisition of 4,800,000 units (“Units”) of Cartier Silver Corporation (the “Issuer”) on a private placement basis at a price of C$0.125 per Unit for total consideration of C$600,000. Each Unit consists of one common share (“Common Share”) and one half of one Common Share purchase warrant (each full warrant a “Warrant”) of the Issuer, with each Warrant entitling the holder to purchase one additional Common Share at a price of C$0.20 per Common Share for a period of 36 months from issuance.

Immediately prior to the acquisition of securities described above in this news release, the Acquiror owned or exercised control or direction over 2,333,000 Common Shares, representing 4.97% of the issued and outstanding Common Shares of the Issuer on an undiluted basis, and 600,000 warrants, each such warrant entitling the Acquiror to purchase one additional Common Share, such warrants representing 1.05% of the number of Common Shares outstanding prior to completion of the private placement. Following completion of the private placement, the Acquiror now beneficially owns or exercises control or direction over 7,133,000 Common Shares and 3,000,000 warrants, representing 12.61% of the issued and outstanding Common Shares of the Issuer on an undiluted basis, and 17.01% of the issued and outstanding Common Shares of the Issuer on a partially diluted basis, assuming the full exercise of all of the warrants held by the Acquiror only.

The securities acquired under the private placement are being acquired by the Acquiror for investment purposes. The Acquiror may in the future, subject to regulatory constraints, take such actions in respect of its holdings of securities of the Issuer as the Acquiror may deem appropriate in light of the circumstances then existing, including the purchase of additional securities of the Issuer through open market purchases or privately negotiated transactions or the sale of all or a portion of its securities of the Issuer in the open market or in privately negotiated transactions to one or more purchasers. The Acquiror does not have any current plans or future intentions which relate to or would result in any of the events, transactions or circumstances enumerated in paragraphs (a) - (k) in the early warning report being filed on www.sedarplus.ca concurrently with dissemination of the press release (the "Early Warning Report").