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

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  • Eloro Resources Ltd. acquired 4,800,000 units of Cartier Silver Corporation on a private placement basis.
  • The purchase price was C$0.125 per unit, resulting in a total consideration of C$600,000.
  • Each unit consists of one common share & one half of one common share purchase warrant.
  • Each warrant allows the holder to purchase one additional common share at C$0.20 per share for 36 months from issuance.
  • Prior to the transaction, Eloro held 2,333,000 common shares (4.97% of outstanding shares) & 600,000 warrants.
  • Post-transaction, Eloro beneficially owns 7,133,000 common shares & 3,000,000 warrants.
  • Eloro now represents 12.61% of issued & outstanding shares on an undiluted basis.
  • Assuming full exercise of all warrants held by Eloro, its holding represents 17.01% on a partially diluted basis.
  • The securities were acquired for investment purposes with no current plans for specific corporate actions under early warning regulations.
  • An Early Warning Report was filed concurrently with the press release on www.sedarplus.ca.
  • Eloro Resources is an exploration & mine development company with gold & base-metal properties in Bolivia, Peru, & Quebec.