Mr. Nick DeMare reports

SALAZAR RESOURCES ANNOUNCES CLOSING OF PRIVATE PLACEMENT

Salazar Resources Ltd. has closed the non-brokered private placement financing previously announced. The company has issued a total of 30.6 million shares at a price of five cents per share to raise $1.53-million. The shares are subject to a four-month hold period from the date of closing. Proceeds will be used for working capital and exploration.

The private placement remains subject to all necessary regulatory approvals, including the final acceptance of the TSX Venture Exchange.

About Salazar Resources Ltd.

Salazar Resources is focused on creating value and positive change through discovery, exploration and development in Ecuador. The team has an unrivalled understanding of the geology in country and has played an integral role in the discovery of many of the major projects in Ecuador, including the two newest operating gold and copper mines.

Salazar Resources has a wholly owned pipeline of copper-gold exploration projects across Ecuador, with a strategy to make another commercial discovery and farm out non-core assets. The company actively engages with Ecuadorian communities, and together with the Salazar family, it co-founded The Salazar Foundation, an independent non-profit organization dedicated to sustainable progress through economic development. The company already has carried interests in three projects. At its maiden discovery, Curipamba, Salazar Resources has a 25-per-cent stake fully carried through to production. At two copper-gold porphyry projects, Pijili and Santiago, the company has 20-per-cent stakes fully carried through to a construction decision.