Eloro Resources and Tartisan Resources Enter Into Agreement for Eloro to Acquire a 100% Interest in Tartisan’s La Victoria Polymetallic Property, Ancash, Peru

Eloro, V.ELO, gold, peru

Eloro Resources Ltd., (TSX VENTURE:V.ELO) and Tartisan Resources Corp. (CSE:TTC) are pleased to announce that they have entered into a Letter of Intent Agreement for Eloro to acquire Tartisan’s 100% undivided interest in La Victoria property, in consideration for: i) 6 million common shares and 3,000,000 non-transferable warrants , ii) staged cash payments totalling C$350,000, and iii) the granting of a 2% royalty interest, half of which (1%) can be repurchased by Eloro for C$3 million. The Property, consisting of 8 mineral concessions totalling approximately 34.4 km2, is held by a Peruvian-based Tartisan subsidiary and is located in Huandoval District, Pallasca Province, Ancash Department, in the North-Central Mineral Belt of Peru. On completion of the proposed Transaction, Eloro will hold an undivided 100% interest in the Property, subject to the Royalty. read more

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