Salazar Resources Limited
TSX VENTURE : SRL
FRANKFURT : CCG

Salazar Resources Limited

June 07, 2012 03:00 ET

Salazar Intercepts 6.35 Meters of 4.53 g/t Gold, 58.05 g/t Silver, 0.75% Copper and 5.54% Zinc Northeast of the El Domo Deposit

VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 6, 2012) - Salazar Resources Ltd. (TSX VENTURE:SRL)(FRANKFURT:CCG) is pleased to report results for an additional seven holes (958.10 metres) from the recently completed Phase IV diamond drill program on the Company's 100-per-cent-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 El Domo resource estimate which was released on January 12, 2012. The 7 holes were drilled to test for mineralization west and north-east of the existing resource blocks (Figure 1).

Highlights Include:

  • CURI-187 intersected 6.35 metres averaging 4.53 g/t gold, 58.05 g/t silver, 0.75% copper and 5.54% zinc
  • CURI-192 intersected 5.20 metres averaging 0.87 g/t gold, 26.96 g/t silver, 0.2% copper and 1.45% zinc

Holes CURI-187 and CURI-192 were drilled approximately 100 metres and 200 metres east of the strong mineralization in hole CURI-185 (3.18 metres averaging 3.04 g/t gold, 57.48 g/t silver and 2.14% copper; previously released on May 14, 2012). Both CURI-187 and CURI-192 intersected strong precious metals mineralization (Table 1) which indicates a significant extension to the mineralization, beneath the andesite sill, in this area.

The Phase IV drill program comprised 51 holes (10,245.92 meters) of new exploratory drilling of which none of the holes were included in the updated resource estimate released by Salazar on January 12, 2012.
To date results for 37 holes of the Phase IV drill program have been reported and we anticipate to have the remaining holes available shortly.

Fredy Salazar, President and CEO, commented: "The intersections in holes CURI-185, CURI-187 and CURI-192, drilled over a distance of approximately 200 metres, indicate the presence of highly anomalous areas with significant mineralization in a new area to the northeast of the current resource. This new area is open to the south, north, and east, is close to the El Domo resource blocks, and will be a target of future exploration."

Table 1: Significant Intersections

HOLE ID FROM (m) TO (m) WIDTH (m) Au (g/t) Ag (g/t) Cu (%) Pb (%) Zn (%)
CURI-186 No significant mineralization encountered in this hole
CURI-187 89.35 95.70 6.35 4.53 58.05 0.75 0.46 5.54
including 89.35 91.43 2.08 10.74 94.24 0.68 0.48 7.81
CURI-188 No significant mineralization encountered in this hole
CURI-189 No significant mineralization encountered in this hole
CURI-190 No significant mineralization encountered in this hole
CURI-191 No significant mineralization encountered in this hole
CURI-192 60.69 65.89 5.20 0.87 26.96 0.20 0.11 1.45
including 60.69 64.77 4.08 1.05 28.68 0.21 0.12 1.61

*Widths represent down hole core lengths.

To view "Figure 1: Map of El Domo Pierce Points with Resource Outlines" accompanying this press release, please click on the following link: http://media3.marketwire.com/docs/srl67i.pdf

Table 2: Drill Hole Specifications

Hole ID Easting Northing Elev Az° Dip° EOH (m)
CURI-186 694936 9855400 911.69 90 -70 167.95
CURI-187 695353 9855650 972.07 90 -65 173.80
CURI-188 694932 9855400 911.76 270 -60 95.95
CURI-189 694977 9855350 908.05 270 -60 137.80
CURI-190 695041 9855550 937.51 270 -75 171.00
CURI-191 695051 9855650 924.94 270 -45 82.65
CURI-192 695478 9855650 963.10 270 -75 128.95
TOTAL 958.10

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, has reviewed and verified 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, are 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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