Salazar Resources Limited

Salazar Resources Limited

December 11, 2009 17:28 ET

Salazar Announces Closing of Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 11, 2009) - Salazar Resources Ltd. (TSX VENTURE:SRL)(FRANKFURT:CCG) is pleased to announce that it has closed the non-brokered private placement announced on December 4, 2009 by issuing 1,140,000 units at a price of $0.88 per unit for gross proceeds of $1,003,200. Each unit comprised one common share and a share purchase warrant. Each warrant entitles the holder to purchase one common share for a period of two years from closing at a price of $1.10 per share. There is a finder's fee payable of $70,224 cash and 79,800 broker warrants, with each broker warrant entitling the agent to purchase one common share for two years at a price of $1.10 per share.

The proceeds of this financing will be used for implementing an expanded work program on the Company's flagship Curipamba Project and for general working capital.

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"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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