Salazar Resources Limited

Salazar Resources Limited

October 12, 2007 08:45 ET

Salazar Provides Update on Drill Program at Curipamba, Ecuador

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 12, 2007) - Salazar Resources Ltd. (TSX VENTURE:SRL)(FRANKFURT:CCG) announces that the field operations at the Curipamba Project comprising a drill program of 48 holes and 9000 meters, including 4,000 meters at Sesmo Sur, has been temporarily halted.

This step was taken by the Company in response to recent protests at the Company's work site. The Company's drill camp was temporarily occupied by protestors who originated from outside the area of influence of the project and NOT from nearby communities where the Company and the Project have strong community support. It is important to comment that the Company has the support from the overwhelming majority (over 90%) of local community residents. The Company also has the support from the Ministry of Mines and Petroleum as well as from the Ministry of Governance. The Company received all necessary exploration permits required to develop the Curipamba Project and completed all the processes established by the Government in a timely and supportive manner. These national authorities cooperated with the Company throughout the protest and arranged for local authorities to take all actions necessary to ensure that the rule of law prevailed.

At the present time the situation has returned to normal and the drill program could resume immediately, but in order to minimize the potential for future confrontation the Company has temporarily withdrawn its employees from its work site. The Company's community development officers are in the field working with all stakeholders. The Government is taking action to bring security to the communities inside the area of influence of the project and to also investigate the activities of the protest leaders. The Company will resume its work program within 3 weeks at which time measures will be implemented to ensure the continual security and safety of its work site.

On a more positive note assay results from drill holes 1 through 3 have been submitted for analysis and results are pending and will be released as soon as they become available. Unfortunately during the protests much of the drill core from drill holes 4 through 7 was destroyed or lost. When the drill program recommences, the first order of business will be to twin drill holes 4 through 7. The Company believes the drill holes completed warrant re-drilling.

In addition to drilling at Sesmo Sur, the drill program will also test the various anomalies identified on the Las Naves mining concessions located 5.5 kilometers N-NE of Sesmo Sur. We anticipate drilling (5000m) numerous Las Naves anomalies early in 2008. Las Naves hosts significant anomalous hydrothermal breccias that cover an area approximately 2 km x 1 km. Examples include:

- El Gallo Anomaly: average grade of 17m at 11.2 g/t Gold and 505 g/t Silver;

- Sesmo Anomaly: average grade of 15m at 39.1 g/t Gold and 741 g/t Silver, including 2m at 186.5 g/t Gold and 1055 g/t Silver;

- Cade Sur Anomaly: average grade of 10m at 7.63 g/t Gold and 291 g/t Silver.

In sum, Mr. Salazar, President and CEO of Salazar Resources says, "The Company is encouraged with the support we have received from the local community and different levels of government in this trying time. We believe taking a short break at this point in time will be the best strategic decision for the long term success of the project. We have received strong reassurance from our community and with that support we are looking forward to resuming our exploration program in the very near future."


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 of 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, including Aurelian's Fruta del Norte discovery, IAMGOLD's Quimsacocha Deposit, Mozo Deposit, Ex Newmont's Cangrejos Project and International Minerals Rio Blanco and Gaby Deposit. Being an Ecuadorian based company gives us a strategic advantage enabling us to complete exploration at a rapid pace, with over one hundred personnel on the ground, including twelve geologists. With an excellent property portfolio (4 projects - 150,000+ hectares), good geopolitical positioning and a number of strategic corporate and financial partnerships, Salazar has positioned itself to be a strategic player in Ecuador.

To view maps and photos related to the Curipamba Project please visit

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release.

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