Salazar Resources Limited
TSX VENTURE : SRL
FRANKFURT : CCG

Salazar Resources Limited

February 28, 2012 08:00 ET

Salazar Intercepts 15.69 Meters of 3.99% Copper & 1.10 g/t Gold at El Domo

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 28, 2012) - Salazar Resources Ltd. (TSX VENTURE:SRL)(FRANKFURT:CCG) reports results from an additional three holes (782.85 meters) from the ongoing diamond drill program on its 100% owned (30,327 ha) Curipamba volcanogenic massive sulphide (VMS) project in Ecuador. The three holes were drilled to test for mineralization under the andesite sill, east of the El Domo resource block (Figure 1), and to further test the area surrounding hole CURI-160 which returned 10.31 meters grading 0.86 g/t gold, 17.32 g/t silver and 6.02% copper (as reported on February 8, 2012). These holes represent new exploratory drilling and were not included in the new El Domo resource estimate was which was released on January 12, 2012.

To view figure 1, please visit the following link: http://media3.marketwire.com/docs/SRL228I.pdf.

Highlights:

  • CURI-163, drilled approximately 50 meters southwest of CURI-160, intersected 15.69 meters grading 1.10 g/t gold, 10.26 g/t silver, 3.99% copper and 1.82% zinc. This wide interval of high grade copper-gold-silver mineralization, together with the intersection in CURI-160, demonstrates high grade extensions to the adjacent resource block. Further drilling is required in this area.
  • CURI-161, although of lower grade at 15.40m of 0.21g/t Au, 6.35 g/t Ag, 0.14% Cu, and 1.08% Zn, is of similar width to the intersections in CURI-160 and 163. Further drilling is warranted in this area.
  • CURI-162 was drilled east of the southern limit of the El Domo deposit. It intersected a modest interval of gold-silver mineralization.

Fredy Salazar, President and CEO, commented; "The intersection in hole CURI-163 is extremely positive. Together with the high grade intersection in CURI-160 it significantly expands the area of potential resources and opens the potential to extend the El Domo deposit further to the east."

Table 1 Significant Intersections
Hole From To Width* Gold Silver Copper Lead Zinc
# (m ) (m ) (m ) (g/t ) (g/t ) (% ) (% ) (% )
CURI-161 226.40 241.80 15.40 0.21 6.35 0.14 0.13 1.08
CURI-162 187.92 191.00 3.08 1.30 29.77 0.03 0.18 0.24
CURI-163 176.04 191.73 15.69 1.10 10.263 3.99 0.02 1.82
including 176.04 180.20 4.16 2.28 15.06 7.14 0.05 0.61
including 186.74 190.33 3.59 0.97 14.79 6.26 0.01 6.54
* Widths represent down hole core lengths.
Table 2 Drill Hole Specifications
Hole-ID Easting Northing Elev Az° Dip° EOH
CURI-161 695454.39 9855350.09 1010.47 90.00 -70.00 269.90
CURI-162 695427.31 9854949.86 1000.92 270.00 -80.00 230.00
CURI-163 695401.32 9855300.37 1015.65 90.00 -78.80 282.95

CURI-161 tested the projection of the mineralized horizon approximately 170 meters east of CURI-148 (16.32m @ 1.31 g/t Au, 6.80 g/t Ag, 2.42% Cu and 0.41% Zn1). It intercepted 30 meters of hydrothermal breccia carrying 7% pyrite and 5% sphalerite-chalcopyrite.

CURI-162 tested the projection of the mineralized horizon approximately 50 meters east of CURI-138 (5.86m @ 1.36 g/t Au, 68.4 g/t Ag and 1.00% Zn). It intersected 18 metres of hydrothermal breccia with 10% to 20% pyrite and accessory chalcopyrite and sphalerite.

CURI-163 was collared 50 meters southwest of CURI-160 (10.31m @ 0.86 g/t Au, 17.30 g/t Ag and 6.02% Cu). It intersected 17 metres of copper and zinc rich massive and semi massive mineralization.

QA/QC

Drill core samples are analyzed by ALS Chemex Labs Ltd. and IBS Inspectorate, ISO 9001:2000 certified laboratories. Salazar maintains a QA/QC program whereby standard samples and blanks are inserted into each batch of samples to ensure quality control.

Kieran Downes, P.Geo., a qualified person as defined by National Instrument 43-101, is responsible for the technical information provided in this release.

ON BEHALF OF THE BOARD OF SALAZAR RESOURCES LIMITED

Fredy Salazar, President & CEO

Salazar Resources Limited

About Salazar Resources: 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 have 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.

This press release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. 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. The company does not undertake to update any forward-looking information except in accordance with applicable securities laws.

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.

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