Salazar Resources Limited

Salazar Resources Limited

March 12, 2008 08:30 ET

Salazar Announces Drill Results at the El Gallo Anomaly, Curipamba Project, Ecuador

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 12, 2008) - Fredy Salazar, President & CEO of Salazar Resources Ltd. (TSX VENTURE:SRL)(FRANKFURT:CCG) is pleased to announce complete results from the phase 1 drill program at the El Gallo anomaly, Las Naves Central area, Curipamba Project, Ecuador.

The drill program targeting the El Gallo anomaly consisted of 598 meters in 5 drill holes. The Company believes the results are significant and upon completion of the larger phase 1 drill program at the Las Naves Central area, the Company will follow-up on these encouraging results with a targeted phase 2 drill program. The El Gallo anomaly is located at surface, and is open in all directions.

Significant results, previously reported from the El Gallo drill program include (see press release January 21, 2008):

- 6.95 meters with 4.51 g/t gold and 157 g/t silver from drill hole 15;

- 8.25 meters with 5.80 g/t gold and 66 g/t silver from drill hole 16 and,

- 4.6 meters with 9.45 g/t gold and 338 g/t silver in drill hole 17.

Drill hole 18, not previously reported, successfully intersected a breccia zone with clasts of polysulphides plus barite in an argillic matrix, at depth the drill hole intersected a diatreme that is strongly chloritized-argilitized.

Length Au Ag Cu Pb Zn
Hole # From To (m) (g/t) (g/t) (%) (%) (%)
CURI-07-015 8.05 15.00 6.95 4.51 157.0 0.12 0.06 0.04
CURI-07-016 0.00 8.25 8.25 5.80 66.0 0.08 0.09 0.04
Included: 2.00 7.00 5.00 9.12 104.0 0.09 0.10 0.04
CURI-07-017 6.09 10.66 4.57 9.45 337.82 0.20 0.23 0.25
Included: 6.09 9.00 2.91 14.42 512.1 0.28 0.27 0.29
CURI-07-018 4.98 3.33 17.8 - 0.37 -

There were no significant values in drill hole 14.

Please refer to figure 1 for location of the drill holes.

To view figure 1 please click on the following link:

Please refer to figure 2 to review a longitudinal section of the El Gallo anomaly.

To view figure 2 please click on the following link:

Mr. Fredy Salazar stated, "We are encouraged that our phase 1 work program is starting to reveal the potential we believe exists at the Curipamba Project. Our drilling at Las Naves Central has progressed with numerous mineralized zones encountered area wide, not only at El Gallo but at our recently discovered Domo anomaly. Results from Domo are pending and will be released as the Company receives them."

Las Naves Central comprises 13 known anomalies (to date) with channel sampling grades similar to that found at El Gallo with some anomalies, such as Sesmo, even more prolific (please see for detailed information). Las Naves Central is defined by an area 2 km x 1 km in aerial extent. Theoretically, the anomalies are related and/or connected, and the Company intends to prove this out in the upcoming work programs.

Dr. Howard Lahti, P. Geo, the Qualified Person (QP) for the Company, has reviewed this news release and is responsible for its accuracy.

Sample preparation was performed by ALS Chemex Quito, Ecuador, using standard industry practices (Sample prep -32). Analytical work was carried out at the ALS Chemex Laboratory in Lima, Peru using fire assay methods for gold (Au-25 procedure). Standard samples, blanks and duplicate check samples were randomly inserted to the sample lot to ensure quality control.

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


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. The Company's Ecuadorian base provides a strategic advantage, enabling exploration to be completed at a rapid pace. The Company employs over sixty personnel on the ground, including twelve geologists. With an excellent property portfolio (4 projects - 131,300 hectares), good geopolitical positioning and a number of strategic corporate and financial partnerships, Salazar has positioned itself to be a strategic player in Ecuador.

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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