Salazar Resources Limited
TSX VENTURE : SRL
FRANKFURT : CCG

Salazar Resources Limited

August 02, 2016 16:38 ET

Salazar Adds Jorge Roca Arteta and Thomas Kelly to the Board

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 2, 2016) - SALAZAR RESOURCES LIMITED (TSX VENTURE:SRL)(FRANKFURT:CCG) (the "Company") - Mr. Fredy Salazar, President and CEO, is pleased to announce the appointment of Messrs. Jorge Roca Arteta and Thomas Kelly to the Board, effective immediately.

Mr. Jorge Roca Arteta has a Bachelor of Arts degree (1986) from Brown University and is Alumnae from the Harvard Business School through its OPM Program (2002). Mr. Roca has worked at the Executive and Board levels, in his family businesses in Ecuador, where he is a third generation family member: on one side of the family in the construction business - Menatlas and forestry business - Edimca, Acosa, Endesa, Botrosa; and with another side of the family (Grupo Consenso) in the appliance business (manufacturing - Indurama, wholesaling and retailing - Marcimex) and in shrimp farming - Austromar. Also Mr. Roca is an entrepreneur and investor currently in the electronic business - Tarpuq, iCenter; in real estate development - Inmobilia, Arrecife, and in mining - SRL. In his pro bono main activities, currently Mr. Roca is Chairman of the Cuenca Chamber of Industry, Chairman of the German School of Cuenca and local Board Member of INCAE business school. He is fluent in Spanish, German and English.

Mr. Thomas Kelly has bachelor and masters degrees in mining engineering from the Colorado School of Mines, is a Fellow of the Australasian Institute of Mining and Metallurgy and a registered member of the Society for Mining, Metallurgy & Exploration. Mr. Kelly brings over 35 years of experience in mine production, minerals industry consulting and corporate management. He has extensive international experience working on producing mines as part of feasibility teams and managing development projects from small underground to large open pit operations. Mr. Kelly has held senior positions with Freeport-McMoRan Copper & Gold Inc., AMEC Americas, Inca Pacific Resources Inc. and other recognized industry-leading companies. He is a recognized expert in project management and development and is fluent in Spanish.

About 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 based in Ecuador, thus having thorough knowledge of local human and environmental issues, gives the company a strategic advantage, enabling it 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.

ON BEHALF OF THE BOARD OF SALAZAR RESOURCES LIMITED

Fredy Salazar, President & CEO

Salazar Resources Limited

Neither the 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 news release.

This press release contains "forward-looking information" within the meaning of applicable Canadian securities laws. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. Forward-looking information herein includes, but is not limited to, statements that address activities, events or developments that the Company expects or anticipates will or may occur in the future, including such things as the successful completion of the Royalty Sale. Such forward-looking information is based on a number of material factors and assumptions, including that the parties will be able to negotiate a definitive agreement in respect of the Royalty Sale, and that the Company will be able to satisfy the conditions precedent to closing of such transaction. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Company's disclosure documents on the SEDAR website at www.sedar.com. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.

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