Salazar Resources Limited
TSX VENTURE : SRL
FRANKFURT : CCG

Salazar Resources Limited

April 10, 2012 08:00 ET

Salazar Intercepts 5.3 Meters of 6.4 g/t Gold, 215 g/t Silver, 3.98% Copper and 12.5% Zinc

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 10, 2012) - Salazar Resources Ltd. (TSX VENTURE:SRL)(FRANKFURT:CCG) - reports results from an additional six holes (1,079 meters) from the diamond drill program on its 100% owned (30,327 ha) Curipamba volcanogenic massive sulphide (VMS) project in Ecuador. These holes represent new exploratory drilling and were not included in the new 5.54 MT Indicated and 1.46MT Inferred El Domo resource estimate which was released on January 12, 2012.

Highlights Include:

  • CURI-169, drilled approximately 50 meters west of CURI-128, intersected 5.28 meters grading 6.4 g/t gold, 215.25 g/t silver, 3.98% copper, 1.71% lead and 12.54% zinc
  • CURI-171, drilled approximately 90 meters west of CURI-128, intersected 4.08 meters grading 1.55 g/t gold, 42.85 g/t silver, 1.65% copper and 4.16% zinc and approximately 40 meters West of CURI-169
  • CURI-172, drilled approximately 70 meters west of CURI-126, intersected 6.59 meters grading 1.11 g/t gold, 24.47 g/t silver and 1.87% zinc

Four holes (CURI-169, 171, 172 and 174) were drilled to test for extensions to the Indicated mineralization at the southwest end of the deposit (Figure 1). CURI-169 intersected massive sulphide mineralization underlain by strong stockwork mineralization and CURI-171 intersected massive sulphide mineralization and faulted hydrothermal breccias. The intersections in these two holes show that the mineralization does extend beyond the limits of the Indicated mineralization. CURI-172 intersected hydrothermal breccias and fault zones in autobrecciated dacite while CURI-174 intersected a wide interval of hydrothermal breccias with intense sphalerite and chalcopyrite mineralization. Holes CURI-170 and 173 were drilled to test for extensions to the mineralization (Indicated/Inferred) at the northeast end of the El Domo deposit. CURI-170 intersected faulted semi massive mineralization and hydrothermal breccias under the andesite sill, while in CURI-173 the mineralized zone coincides with the faulted contact between the andesite sill and underlying autobrecciated dacite. The fault zone contains clasts of sulphide and grainstone (marker horizon). Both holes carry anomalous gold and silver mineralization.

Fredy Salazar, President and CEO, commented; "These new results continue to show potential to increase the El Domo resource in multiple directions. The intersections in CURI-169 and 171 demonstrate additional potential to the southwest, while the intersection in CURI-170 shows the mineralization remains open in the northeast. Additional drilling is required in both areas to follow up these positive results."

Table 1: Significant Intersections
Hole ID From
(m)
To
(m)
Width*
(m)
Au
(g/t)
Ag
(g/t)
Cu
(%)
Pb
(%)
Zn
(%)
CURI-169 56.08 61.36 5.28 6.40 215.25 3.98 1.71 12.54
including 56.95 58.17 1.22 23.47 732.00 3.55 6.57 38.86
125.95 129.45 3.50 0.46 6.98 1.10 0.01 1.08
CURI-170 226.28 232.06 5.78 0.82 16.04 0.03 0.05 0.37
including 228.00 232.06 4.06 0.97 16.31 0.02 0.07 0.46
CURI-171 61.65 65.73 4.08 1.55 42.85 1.65 0.32 4.16
71.95 76.17 4.22 0.12 14.65 0.68 0.04 0.84
115.20 117.60 2.40 0.08 6.08 0.31 0.03 1.82
134.00 135.00 1.00 1.50 0.33 0.01 2.02
CURI-172 73.13 79.72 6.59 1.11 24.47 0.20 0.46 1.87
CURI-173 189.00 191.74 2.74 0.68 6.51 0.39 0.03 0.37
CURI-174 63.00 96.50 33.50 0.31 11.45 0.15 0.10 1.57
including 63.00 68.28 5.28 1.36 43.94 0.02 0.11 0.16
including 68.28 76.54 8.26 0.24 13.97 0.30 0.31 3.30
* Widths represent down hole core lengths.

To view Figure 1: Map of El Domo Pierce Points with Resource Outlines, visit: http://media3.marketwire.com/docs/srl410_F1.pdf.

Table 2: Drill Hole Specifications
Hole ID Easting Northing Elev Az° Dip° EOH
CURI -169 694988 9854950 873 90 -80 152.95
CURI -170 695301 9855500 1006 90 -80 288.00
CURI -171 694984 9854950 872 270 -71 137.95
CURI -172 694869 9855002 839 90 -70 134.80
CURI -173 695298 9855550 1001 90 -90 234.00
CURI -174 694900 9855050 865 90 -90 131.35
Total 1079.05

Drill core samples were analyzed by ALS Chemex Labs Ltd. and IBS Inspectorate, ISO 9001:2000 certified laboratories, in Ecuador. 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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