Eloro Resources Ltd. announced the signing of the Definitive Option Agreement on the Iska Iska polymetallic epithermal project, in the Potosí Department, southern Bolivia by Minera Tupiza S.R.L., Eloro’s wholly-owned Bolivian subsidiary. Pursuant to the signed definitive agreement and pending the receipt of all required regulatory approval, Eloro Resources Ltd. will issue 250,000 common shares within 30 days of the date of the agreement and can elect to issue a further 250,000 common shares within 2 years thereafter and have the option of paying USD 10 million to Empresa Minera Villegas S.R.L., within 4 full years of the date of the agreement.