Salazar Resources Limited

Salazar Resources Limited

December 04, 2009 17:30 ET

Salazar Increases Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 4, 2009) - Salazar Resources Ltd. (TSX VENTURE:SRL) - Due to high demand of the previously announced financing, the Company has arranged an additional non-brokered private placement of up to 1,140,000 units at a price of $0.88 per unit to raise up to CAD $1,003,200. The pricing for this financing was reserved with the TSX Venture Exchange on December 02, 2009. Each unit comprises one common share and a warrant. Each warrant will entitle the holder to purchase one common share for a period of two years from closing at a price of $1.10 per share. A finder's fee will be payable in connection with this financing.

The proceeds of this financing will be used for implementing an expanded work program on the Company's flagship Curipamba Project and for general working capital.

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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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