Salazar Resources Limited

Salazar Resources Limited

April 23, 2013 09:00 ET

Salazar Proceeds with PEA at El Domo

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 23, 2013) - Salazar Resources Limited ("Salazar") (TSX VENTURE:SRL)(FRANKFURT:CCG) -

Mr. Fredy Salazar, President and CEO of Salazar, is pleased to announce that Buenaventura Ingenieros S.A. ("BISA") has been retained to prepare a preliminary economic assessment ("PEA") on the El Domo property at the Curipamba Project. The PEA is to include a mine plan and plant design, and the PEA is scheduled for completion by the end of 2013.

The completion of the PEA is part of Salazar's overall development strategy for the Curipamba Project. Under the terms of the agreement with Urion Mining International B.V., ("Urion") (see news release dated March 26, 2013), upon receipt of the PEA, Urion may elect to provide additional project financing, through an investment in Salazar or in its wholly-owned Ecuadorian subsidiary, Curimining, for the construction of the plant and mine at El Domo.

BISA is an engineering firm based in Peru that has extensive experience conducting major studies in Ecuador and throughout South America. BISA is very knowledgeable of current operating environment throughout Latin America and in particular Ecuador.

Mr. Fredy Salazar commented: "The decision to engage BISA was a joint decision with Urion. BISA was highly recommended by Urion due to extensive and satisfactory experiences on other engineering projects completed by BISA for Urion-related companies. Of particular importance was that BISA has completed important work in Ecuador, in areas near the Curipamba Project. We expect that the completion of the PEA will mark the start of a new chapter in the successful story of Salazar Resources Limited."


Fredy Salazar, President & CEO

Salazar Resources Limited

About Salazar Resources Limited

Salazar Resources Limited is a publicly-listed (TSX VENTURE:SRL)(FRANKFURT:CCG) mining 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 contains "forward-looking information" within the meaning of applicable Canadian securities laws. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. Forward-looking information herein includes, but is not limited to, statements that address activities, events or developments that Salazar expects or anticipates will or may occur in the future, including such things as the successful completion of the PEA and the timing of completion of the PEA. Such forward-loking information is based on a number of material factors and assumptions, including that contracted parties provide services on the agreed timeframes and that laboratory and other related services are available and perform as contracted. Although Salazar has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking 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 Salazar's disclosure documents on the SEDAR website at Accordingly, readers should not place undue reliance on forward-looking information. Salazar 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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