Salazar Resources Limited
TSX VENTURE : SRL
FRANKFURT : CCG

Salazar Resources Limited

December 14, 2010 09:39 ET

Salazar Intersects 5 m of 4 g/t Gold, 114 g/t Silver 1.7% Copper and 17% Zinc as El Domo Expands to the North

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 14, 2010) - Salazar Resources Ltd. (TSX VENTURE:SRL) (FRANKFURT:CCG) - Mr. Fredy Salazar, President and CEO, is pleased to announce the latest assay results from recent drilling at the El Domo deposit in the Las Naves Central area of its Curipamba Volcanic Hosted Massive Sulphide Project in Ecuador. The deposit has now reached a N-S length of 750 m and remains open in several directions.

Results have been received from the El Domo drill program for diamond drill holes (DDH) Curi-10-78, Curi-10-79, Curi-10-80, Curi-10-81 and Curi-10-82 all located in the northern part of the deposit (See Figure 1) where high grade mineralization was encountered within extremely thick mineralization including:

  • Curi-10-80 intersected 6.0 meters at 1.50 g/t gold and 3.74 % copper within 23.7 m of mineralization 
  • Curi-10-81 intersected 6.3 meters at 3.42 g/t gold; 49.2 g/t silver; 2.11 % copper and 1.62 % zinc within 18.4 m of mineralization
  • Curi-10-82 intersected 5.18 meters at 4.06 g/t gold, 114.40 g/t silver, 1.77 % copper and 16.85% zinc

"Results from DDH 79 to DDH 82 demonstrate continuity of a 200 m zone of outstanding high grade mineralization at the northern end of El Domo averaging a thickness of approximately 17 m", says Fredy Salazar, President and CEO. "The intersection in DDH 79 is also extremely important because it confirms the extension of the deposit beneath the El Domo laccolithic intrusive body and in close proximity to an untested geophysical anomaly".

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

Hole From (m) To (m) Width*(m) Gold (g/t) Silver (g/t) Copper (%) Lead (%) Zinc (%)
CURI-78 103.00 103.66 0.66 1.37 27.70 0.77 0.27 1.79
CURI-79 175.20 183.20 8.00 0.11 1.59 0.24 0.03 1.27
CURI-80 97.10 120.83 23.73 1.00 10.01 1.26 0.07 0.26
 including 108.55 114.55 6.00 1.50 11.32 3.74 0.01 0.10
CURI-81 79.57 98.00 18.43 1.57 22.62 1.23 0.11 1.14
 Including 80.53 86.80 6.27 3.42 49.25 2.11 0.25 1.62
CURI-82 104.00 109.18 5.18 4.06 114.40 1.77 0.68 16.85
 including 107.30 109.18 1.88 8.47 241.23 2.44 1.21 39.42

*widths reported are not true width

Details of each drill hole and location relative to other significant intersections are described as follows:

Drill Hole Section Azimuth Dip Hole Depth (m) Location of nearest significant intersection
DDH 78 5500 N 270˚ strike -90˚ 135.90 50m west of DDH 77 - 10 g/t Au; 130 g/t Ag; 8.5% Cu and 8.0% Zn over 11.5 m
DDH 79 5400 N 90˚ strike -65˚ 200.75 160 m east of DDH 42 - 2 g/t Au and 7.5% Zn over 8.6 m
DDH 80 5400 N 0˚ strike -90˚ 171.00 50m south of DDH 73 - 2.1% Cu over 16.7 m
DDH 81 5550 N 0˚ strike -90˚ 182.85 50 m N of DDH 77 - 10 g/t Au; 130 g/t Ag; 8.5% Cu and 8.0% Zn over 11.5 m
DDH 82 5550 N 270˚ strike -65˚ 143.7 50 m W of DDH 81

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.

To view Figure 1, please visit the following link: http://media3.marketwire.com/docs/1214szr1.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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