Salazar Resources Limited
TSX VENTURE : SRL
FRANKFURT : CCG

Salazar Resources Limited

August 18, 2010 08:00 ET

Retransmission: Salazar Intersects 15.95m Averaging 11.32 g/t Gold, 195.31 g/t Silver, 3.75% Copper, 0.93% Lead and 8.19% Zinc

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 18, 2010) - Salazar Resources Ltd. (TSX VENTURE:SRL)(FRANKFURT:CCG) - Mr. Fredy Salazar, President and CEO, is pleased to announce drill results from the El Domo anomaly, Las Naves Central area, at the Curipamba Project, Ecuador. All three holes are step outs from previous drilling at the El Domo Deposit, thus adding significantly to the known extent of mineralization.

DDH Curi-56 encountered the highest grades received to date within El Domo and was intersected at 55m below surface. This drill hole is located 50 meters East from hole 48 (DDH-48 reported 18.95 meters @ 3.41 g/t Au, 61 g/t Ag, 2.83% Cu, 0.44% Pb and 3.18% Zn) and 120 Northwest from DDH Curi-46 (See Figure 1, click on following link: http://media3.marketwire.com/docs/18SRLfig1.jpg).

Drill Highlights from Diamond Drill Hole (DDH) Curi-56: (See Figure 2, click on following link: http://media3.marketwire.com/docs/18SRLfig2.jpg)

15.95m @ 11.32 g/t Au, 195.31 g/t Ag, 3.75% Cu, 0.93% Pb and 8.19% Zn
   
  including:
   
7.24m @ 21.38 g/t Au, 352.70 g/t Ag, 5.98% Cu, 1.68% Pb and 15.01% Zn

The total length of the hole was 134.70m with 90 degree strike and -75 degree dip.

From To Width Au Ag Cu Pb Zn
(m) (m) (m) (g/t) (g/t) (%) (%) (%)
55.30 56.24 0.94 16.27 398.00 0.37 2.51 7.26
56.24 57.20 0.96 0.35 11.40 0.05 0.07 0.33
57.20 58.48 1.28 0.91 18.50 0.33 0.02 0.44
58.48 59.62 1.14 0.94 7.40 0.12 0.02 0.18
59.62 60.72 1.10 20.00 236.40 9.26 1.02 4.42
60.72 61.70 0.98 28.53 252.30 7.69 0.78 7.21
61.70 62.50 0.80 24.20 462.00 7.76 1.72 14.04
62.50 63.36 0.86 24.47 358.00 2.90 2.15 30.62
63.36 64.28 0.92 29.80 573.00 5.60 3.52 19.92
64.28 65.27 0.99 12.47 422.00 6.41 1.01 12.62
65.27 66.00 0.73 19.60 359.00 2.78 1.76 23.69
66.00 66.86 0.86 12.05 188.10 3.87 1.79 12.87
66.86 67.91 1.05 2.61 78.00 2.82 0.03 6.60
67.91 69.61 1.70 1.10 17.90 0.73 0.04 0.94
69.61 70.38 0.77 2.71 25.90 5.03 0.02 6.08
70.38 71.25 0.87 1.44 14.00 8.62 0.01 0.92
(i) Note: widths reported are not true width

Additionally, step out hole DDH-54 extended mineralization 120m to the South of DDH Curi-46. DDH Curi-55 was collared 100m to the east of DDH Curi-46 extending mineralization that direction. El Domo Deposit remains open.

Drill Highlights from Diamond Drill Hole (DDH) Curi-54:

4.05m @ 3.03 g/t Au, 93 g/t Ag, 2.30% Cu, 1.26% Pb and 10.96% Zn
   
  Including:
   
2m @ 5.18 g/t Au, 172.7 g/t Ag, 4.03% Cu, 2.30% Pb and 20.76% Zn

The total length of the hole was 206.7m with 90 degree strike and -70 degree dip.

From To Width Au Ag Cu Pb Zn
(m) (m) (m) (g/t) (g/t) (%) (%) (%)
57.00 57.95 0.95 0.94 5.40 0.15 0.14 0.47
57.95 59.05 1.10 8.70 186.80 2.59 4.06 24.43
59.05 59.95 0.90 0.87 155.40 5.79 0.14 16.27
59.95 61.00 1.05 0.52 13.00 0.62 0.22 1.80
61.00 62.00 1.00 1.38 18.80 0.62 0.27 0.99
(i) Note: widths reported are not true width

Drill Highlights from Diamond Drill Hole (DDH) Curi-55:

7.20m @ 1.45 g/t Au, 21.04 g/t Ag, 1.43% Cu, 0.06% Pb and 0.69% Zn
   
  Include:
   
2.90m @ 2.62 g/t Au, 39.82 g/t Ag, 2.38% Cu, 0.19% Pb and 1.24% Zn

The total length of the hole was 89.90m with 90 degree strike and -60 degree dip.

From To Width Au Ag Cu Pb Zn
(m) (m) (m) (g/t) (g/t) (%) (%) (%)
48.00 49.55 1.55 1.04 17.00 1.57 0.03 0.74
49.55 51.30 1.75 0.11 0.50 0.07 0.00 0.05
51.30 52.30 1.00 1.00 8.80 0.86 0.02 0.15
52.30 53.30 1.00 1.37 40.80 1.28 0.18 1.31
53.30 54.22 0.92 1.07 24.70 1.27 0.08 0.60
54.22 55.20 0.98 5.35 53.00 4.55 0.12 1.76
(i) Note: widths reported are not true width

Mr. Fredy Salazar states, "These recent drill holes confirm our belief that the El Domo Deposit extends significantly to the south and east. We are very pleased with the drilling to date as all step-out drill holes have intersected mineralization. These additional intersections confirm the continuity of mineralization to the south and that the core of the El Domo body has significant high grade sections."

For more information please visit our website at: www.salazarresources.com

John Buckle, P.Geo., P.Geoph., the qualified person for the company, has reviewed this news release for its accuracy.

A QC program was used whereby 5% of all samples sent to the laboratory were standard samples with known silver and gold values. Sample preparation was performed by BSI Inspectorate Quito, Ecuador, using standard industry practices (sample prep minus 32). Analytical work was carried out at the BSI Inspectorate Laboratory in Lima, Peru, using fire assay methods for gold (Au-25 procedure). Standard samples, blanks and duplicate check samples were randomly inserted to the sample batch to ensure quality control.

ON BEHALF OF THE BOARD OF
SALAZAR RESOURCES LIMITED

"Fredy Salazar"

Fredy Salazar,
President & CEO

Salazar Resources Limited

Salazar Resources Ltd. is a publicly-listed (TSX VENTURE:SRL) mineral resource company engaged in the exploration and development of new highly prospective areas in Ecuador. Led by a senior Ecuadorian management team and most notably by its namesake Fredy Salazar, this team has been instrumental in other major discoveries throughout Ecuador. Being an Ecuadorian based company gives the company a strategic advantage enabling the company to complete exploration at a rapid pace. With an excellent property portfolio (3 projects - 42,900 hectares), good geopolitical positioning and a number of strategic corporate and financial partnerships, Salazar has positioned itself to be a strategic player in Ecuador and throughout South America.

"Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release."

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