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

Toronto, Ontario--(Newsfile Corp. - March 16, 2026) - Eloro Resources Ltd. (TSX: ELO) (OTCQX: ELRRF) (FSE: P2QM) ("Eloro", or the "Company"). The Company (the "Acquiror") announces the acquisition of 1,205,000 common shares ("Common Shares") of Cartier Silver Corporation (the "Issuer") on the open market at prices ranging from C$0.17 to C$0.21 per Share for total consideration of C$218,290.

Immediately prior to the acquisition of securities described above in this news release, the Acquiror owned or exercised control or direction over 8,788,500 Common Shares, representing 10.42% of the issued and outstanding Common Shares of the Issuer on an undiluted basis, and 2,400,000 warrants, each such warrant entitling the Acquiror to purchase one additional Common Share, such warrants representing 2.77% of the number of Common Shares outstanding prior to the acquisition (calculated on a partially diluted basis, assuming the exercise of only those Warrants held by the Acquiror). Following completion of the acquisition, the Acquiror now beneficially owns or exercises control or direction over 9,993,500 Common Shares and 2,400,000 warrants, representing 11.85% of the issued and outstanding Common Shares of the Issuer on an undiluted basis, and 14.29% 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) of Item 5 of the early warning report (the "Early Warning Report") being filed on www.sedarplus.ca concurrently with dissemination of this press release.