Salazar Resources Limited
TSX VENTURE : SRL
FRANKFURT : CCG

Salazar Resources Limited

October 18, 2010 09:18 ET

Salazar Intersects 14.4 Meters High Grade Copper-Zinc Zone Averaging 6 g/t Gold

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 18, 2010) - Salazar Resources Ltd. (TSX VENTURE:SRL)(FRANKFURT:CCG) - Mr. Fredy Salazar, President and CEO, is pleased to announce the latest assay results from drilling at the El Domo deposit in the Las Naves Central area of its Curipamba Volcanic Hosted Massive Sulphide Project in Ecuador.

The October 8, 2010 Technical Report on the Curipamba Project recommends a continuation of infill and step out drilling to define the nature and extent of the El Domo zone and to test other geological/geophysics that have been defined elsewhere on the property. The Company is pleased to announce results from the El Domo drill program for diamond drill holes (DDH) Curi-10-65 through Curi-10-68. The most significant intersections were in Curi-10-67 and 68 in the south eastern portion of the deposit where thick zones of high grade mineralization were encountered including:

  • Curi-10-67 intersected 12.95 meters at 2.04 g/t gold, 69.50 g/t silver, 1.91 % copper and 6.81 % Zinc
  • Curi-10-68 intersected 14.37 meters at 5.94 g/t gold, 69.65 g/t silver, 2.74 % copper and 4.00 % zinc

"The El Domo deposit has reached the impressive dimensions of approximately 550 m strike length, a width of approximately 250 m and an average thickness of approximately 10 m", (see Figure 1) says Fredy Salazar, President and CEO. "These results demonstrate the continuity of mineralization to the south and we are particularly excited by the presence of outstanding precious metals values including 2 m of 31 g/t gold in DDH 68. Drilling continues to delineate the deposit in all directions".

The following table provides a summary of the significant intersections of each drill hole:

Hole From To Width Gold Ag Cu Pb Zn
# (m) (m) (m) (g/t (g/t) (%) (%) (%)
CURI-65 53.50 56.21 2.71 0.34 7.28 0.07 0.04 3.43
CURI-66 98.24 100.23 1.99 0.15 3.20 1.42 0.00 0.11
CURI-67 47.69 48.32 0.63 2.49 51.10 0.65 0.19 6.85
and 70.30 73.75 1.80 1.53 33.00 1.04 0.16 1.68
and 80.95 93.90 12.95 2.04 69.50 1.91 0.82 6.81
including 83.20 84.40 1.20 7.28 399.33 2.78 2.15 20.39
and 87.44 90.71 3.27 1.63 32.32 3.60 1.95 12.89
CURI-68 86.63 101.00 14.37 5.94 69.65 2.74 1.01 4.00
including 91.06 93.00 1.94 30.89 281.15 2.11 6.58 20.26
and 95.11 99.00 3.89 1.84 24.57 6.93 0.04 0.57

*widths reported are not true width

The above information has been prepared under the supervision of Tom Healy P.Eng. who is designated as a Qualified Person as defined by NI-43-101 with the ability and authority to verify the authenticity and validity of the data.

A QC program was used whereby 5% of all samples sent to the laboratory were standard samples with known silver and gold values. Sample preparation was performed by BSI Inspectorate Quito, Ecuador, using standard industry practices (sample prep minus 32). Analytical work was carried out at the BSI Inspectorate Laboratory in Lima, Peru, using fire assay methods for gold (Au-25 procedure). Standard samples, blanks and duplicate check samples were randomly inserted to the sample batch to ensure quality control.

ON BEHALF OF THE BOARD OF SALAZAR RESOURCES LIMITED

Fredy Salazar, President & CEO

Salazar Resources Limited

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 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.

Statements contained in this news release that are not historical facts are forward-looking statements, which are subject to a number of known and unknown risks, uncertainness and other factors that may cause the actual results to differ materially from those anticipated in the forward looking statements. Although we believe that the expectations in the forward-looking statements are reasonable, actual results may vary, and future results, levels of activity, performance or achievements cannot be guaranteed.

Note: To view the figure associated with this release, please click the following link: http://media3.marketwire.com/docs/srl1018.pdf

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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