Salazar Resources Limited

Salazar Resources Limited

March 04, 2010 08:00 ET

Salazar Provides Corporate Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 4, 2010) - Salazar Resources Ltd. (TSX VENTURE:SRL) is pleased to provide an update on the Company's operations in Ecuador.

In January 2010, Agencia de Regulacion y Control Minero ("ARCM") was established to be responsible for compliance of resource companies and their activities with Ecuador's new mining law. A prerequisite of the new mining law is the confirmation of the mining company's concession titles in Ecuador.

The Director of ARCM has stated that this change of the mining titles will commence shortly. The change of the Mining titles according with the new Mining Law is the last requirement to restart working on mining concessions in Ecuador.

Over the past few weeks the Company has been working with the new agency to ensure the proper procedures have been followed and now the Company anticipates receiving new Mining title in the near future.

Fredy Salazar, President and CEO states, "We have been working extremely close with ARCM and have received very positive feedback in ensuring Salazar receives its final authorization in a timely manner. We appreciate the patience of our shareholders through this time and believe once underway we will have a very exciting year ahead."

In anticipation of receiving the final authorization, the company is mobilizing its diamond drilling equipment to the Curipamba project for the proposed 18,000 metre program. The drilling will continue with the resource delineation of the El Domo deposit and test 16 other geophysical anomalies that have similar characteristics to the El Domo deposit. To date, the El Domo deposit has an inferred resource of 4.08 Mt @ 3.48 g/t Au, 76.33 g/t Ag, 2.51% Cu, 4.55% Zn and 0.47% Pb.

Investor Relations

Salazar has engaged the services of Accent Marketing GmbH ("Accent") of Munich, Germany to undertake investor relations activities for the Company in Europe. Accent will provide its services and expertise for the purposes of assisting the Company to establish and maintain a corporate profile with the investment community primarily in Europe. Accent's primary focus will be: introductions to investment newsletters and financial journalists in Europe, analyzing and assessing viable sources for creating new investor interest in Europe and providing the Company with guidance and advice on how to efficiently allocate financial resources with a view to raising its profile with investors in Europe.

The agreement with Accent has an initial term of twelve months from this date. Accent will receive monthly payments of EUR 5,000, along with pre-approved expenses. Accent does not hold any interest, directly or indirectly, in Salazar or its securities, or any right or intent to acquire such an interest.

For more information please visit our website at:


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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