Salazar Resources Limited
TSX VENTURE : SRL
FRANKFURT : CCG

Salazar Resources Limited

December 01, 2011 09:00 ET

Salazar Intercepts 17.92 Meters Grading 2.36% Copper, Including 7.54 Meters Grading 4.69% Copper at El Domo

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 1, 2011) - Salazar Resources Ltd. (TSX VENTURE:SRL)(FRANKFURT:CCG) ("Salazar" or the "Company") reports multiple new high grade intersections from its continuing diamond drill program at its 100% owned (30,327 ha), precious metals' rich, Curipamba volcanogenic massive sulphide (VMS) project in Ecuador. The ten holes (Tables 1 & 2) reported in this press release (2,539.40 meters) are part of the ongoing diamond drilling program at the El Domo VMS deposit. Nine step-out holes (Figure 1) were drilled to the east of the existing resource, over a N-S distance of approximately 835 meters, with the goal of testing and extending the El Domo deposit under the andesite dome. Seven holes intersected faulted, semi-massive to massive sulphide mineralization.

Highlights:

  • CURI-151 intersected 8.22 meters grading 1.04 g/t gold, 30.06 g/t silver 3.29% copper and 3.77% zinc.
  • CURI-148 intersected 17.92 meters grading 1.21 g/t gold, 6.41 g/t silver, 2.36% copper and 0.37% zinc, including 7.54 meters grading 0.98 g/t gold, 7.28 g/t silver, and 4.69% copper.
  • CURI-143 intersected 4.28 meters grading 3.99 g/t gold, 89.76 g/t silver, 1.34% copper and 7.89% zinc.
  • CURI-145 intersected 5.06 meters grading 0.96 g/t gold, 16.54 g/t silver, 1.45% copper and 1.07% zinc.
  • CURI-142 intersected 1.76 meters grading 0.72 g/t gold, 5.73 g/t silver and 1.90% copper.
  • CURI-146 intersected 6.67 meters grading 1.2 g/t gold and 18.64 g/t silver.
  • CURI-147 intersected 3.75 meters grading 1.64 g/t gold and 124.23 g/t silver in stockwork.

"We are extremely pleased that 7 of the 10 holes intersected significant mineralization under the andesite and that the deposit remains open to the east. The better results to-date, have been encountered in the northern portion of this newly tested area, however encouraging results were also obtained to the south from widely spaced reconnaissance holes. These results confirm our belief that the area to the east of El Domo warrants further investigation. We continue to aggressively explore and drill at El Domo and Curipamba, and look forward to reporting additional results as well as a new NI 43-101 compliant El Domo resource estimate in the near future," noted Fredy Salazar, President and CEO.

CURI-145 and CURI-148 was collared approximately 75 meters northeast of CURI-139 which cut 4.96 meters of faulted massive sulphide mineralization grading 1.14 g/t gold, 15.43 g/t silver and 1.65% copper (News Release of Nov 22, 2011). CURI-142 was drilled from the same platform as CURI-139, on the same azimuth but with a shallower dip.

CURI-143 and CURI-151 were drilled approximately 140 meters southwest of CURI-148.

CURI-144 was drilled approximately 160 meters northeast of CURI-137 which cut 9.94 meters grading 3.48 g/t gold, 91.95 g/t silver, 4.40% copper and 14.83% zinc (News Release of Nov 22, 2011).

CURI-146 and CURI-147 were drilled approximately 75 meters southwest of CuURI-137. The holes intersected semi-massive mineralization and stock work mineralization.

CURI-149, the most southerly hole drilled to-date on the El Domo deposit, and approximately 240 meters south of the last fence of holes, cut encouraging gold, silver and copper values.

Table 1 Significant Intersections
Hole From To Width* Gold Silver Copper Lead Zinc
# (m) (m) (m) (g/t) (g/t) (%) (%) (%)
CURI-142 180.85 182.61 1.76 0.72 5.73 1.90 0.01 0.08
including 180.85 181.73 0.88 1.09 8.66 3.67 0.01 0.10
CURI-143 201.08 205.36 4.28 3.99 89.76 1.34 0.46 7.89
including 201.08 204.80 3.72 4.49 102.13 1.48 0.53 9.00
CURI-144 190.14 190.56 0.42 0.99 42.00 0.55 0.19 1.74
CURI-145 182.35 187.41 5.06 0.96 16.54 1.45 0.32 1.07
CURI-146 84.83 91.50 6.67 1.20 18.64 0.05 0.18 0.48
including 87.00 91.50 4.50 1.45 24.24 0.07 0.26 0.68
CURI-147 170.15 173.90 3.75 1.64 124.23 0.05 0.12 0.25
including 170.15 172.70 2.55 2.17 174.23 0.06 0.13 0.23
CURI-148 164.14 182.06 17.92 1.21 6.41 2.36 0.01 0.37
including 174.52 182.06 7.54 0.98 7.28 4.69 0.00 0.03
including 174.52 180.46 5.94 1.19 8.56 5.49 0.00 0.04
CURI-149 152.24 152.45 0.21 0.19 7.70 1.15 0.10 1.48
233.00 234.00 1.00 0.02 0.60 0.49 0.00 1.23
CURI-150 No significant mineralization
CURI-151 201.52 203.65 2.13 0.57 6.23 0.76 0.01 0.04
210.78 219.00 8.22 1.04 30.06 3.29 0.01 3.77
including 210.78 215.54 4.76 1.73 50.27 4.82 0.01 6.49
* Widths represent down hole core lengths.
Table 2 Drill Hole Specifications
Hole_ID Easting Northing Elev Az° Dip° EOH
CURI-142 695255 9855300 975 90 -65 274.30
CURI-143 695227 9855250 976 90 -75 332.80
CURI-144 695201 9855102 962 90 -90 303.00
CURI-145 695307 9855350 994 90 -90 251.80
CURI-146 695299 9854900 952 270 -80 218.95
CURI-147 695303 9854900 952 90 -60 200.80
CURI-148 695307 9855350 994 90 -70 235.95
CURI-149 695236 9854700 939 90 -75 248.90
CURI-150 695459 9854700 948 270 -75 215.90
CURI-151 695227 9855250 975 90 -55 257.00

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

The above information has been prepared under the supervision of Mr. Kieran Downes, P.Geo., who is designated as a "Qualified Person", and who has reviewed the information and has verified the authenticity and validity of the data.

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 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.

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.

To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/SRL0112map.pdf

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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