Salazar Resources Limited

Salazar Resources Limited

December 02, 2010 08:32 ET

Salazar Acquires Second Drill Rig to Accelerate Exploration Program

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 2, 2010) - Salazar Resources Ltd. (TSX VENTURE:SRL)(FRANKFURT:CCG) - Mr. Fredy Salazar, President and CEO, is pleased to announce that Salazar Resources Ltd. has acquired a second diamond drill rig to accelerate the exploration program at its Curipamba Project in Ecuador.

The second rig is a new Hydracore 4000 hydraulic diamond drill with a depth capacity of 500 meters and 1000 meters for HQ core and NQ core respectively. While significantly greater capacity than the Hydracore 2000 currently owned by Salazar, the power pack has been modified to utilize 3–60 HP diesel engines to limit maximum module weight and to allow the unit to remain man portable. The second drill will be allocated to exploration drilling on previously identified exploration targets at Curipamba while the first drill will remain dedicated to the delineation and extension drilling of the El Domo deposit. It is anticipated that the second drill will be commissioned early in 2011.

Fredy Salazar, President of Salazar Resources Ltd., stated, "The success of exploration drilling at the gold rich El Domo copper-zinc deposit has necessitated that one drill remain dedicated to advance resource definition and to test adjacent exploration targets as quickly as possible. The addition of a second drill will allow us to ramp up our overall exploration effort in parallel to the El Domo drilling and drill test approximately fifteen additional and highly prospective targets, some of which have similar characteristics to El Domo. The exploration targets for the second drill are currently being prioritized based upon their geophysical, geochemical and geological signatures."


Fredy Salazar, President & CEO

Salazar Resources Limited

Salazar Resources Ltd. is a publicly-listed (TSX VENTURE:SRL)(FRANKFURT:CCG) 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.

Statements contained in this news release that are not historical facts are forward-looking statements, which are subject to a number of known and unknown risks, uncertainness and other factors that may cause the actual results to differ materially from those anticipated in the forward looking statements. Although we believe that the expectations in the forward-looking statements are reasonable, actual results may vary, and future results, levels of activity, performance or achievements cannot be guaranteed.

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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