Salazar Resources Limited
TSX VENTURE : SRL
FRANKFURT : CCG

Salazar Resources Limited

November 09, 2010 03:38 ET

Salazar Intersects 23.87 g/t Gold, 1252.71 g/t Silver, 2.29 % Copper, 5.69% Lead and 26.28 % Zinc

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 9, 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 Company is pleased to announce results from the El Domo drill program for diamond drill holes (DDH) Curi-10-71 and Curi-10-72 located in the South Eastern part of the deposit (See Figure 1) where thick zones of high grade mineralization were encountered including:

  • Curi-10-71 intersected 1.91 meters con 23.87 g/t gold, 1252.71 g/t silver, 2.29% Copper, 5.69% lead and 26.28 % zinc
  • Curi-10-72 intersected 4.62 meters at 1.59 g/t gold, 64.57 g/t silver, 1.88 % Copper and 4.25 % Zinc

"The El Domo deposit has expanded another 50 m to the southeast and continues to remain open towards an outstanding geophysical anomaly located approximately another 350 m further around the El Domo intrusive", says Fredy Salazar, President and CEO. "It is of particular interest to note that DDH 71 provides evidence that the precious metal rich sphalerite zone seen in DDH 69 may extend for at least 150 m. Drilling continues to delineate the deposit in all directions".

Curi-10-71 was drilled at 90 degrees strike on section 4950 N with -70 degree dip and a length of 182.75m. Curi-10-72 was drilled 90 degrees strike on section 5000 N with -70 degree dip and a length of 158.75m. 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-71 61.57 63.48 1.91 23.87 1252.71 2.29 5.69 26.28
CURI-72 111.54 116.16 4.62 1.593 64.574 1.88 0.24 4.25

*widths reported are not true width

To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/srl_1109_2010_fig_1.pdf

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.

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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