Mr. Nick DeMare reports

SALAZAR RESOURCES CLOSES $1.4 MILLION PRIVATE PLACEMENT

Salazar Resources Ltd. has closed the non-brokered private placement financing announced on Dec. 3, 2025. The company raised gross proceeds of $1,430,498 by issuing a total of 11,003,830 common shares at a price of 13 cents per share. Finders' fees of $15,600 in cash and 120,000 finder warrants were paid on a portion of the financing. Each finder warrant entitles the finder to purchase one common share at a price of 13 cents per share for two years from closing. Net proceeds will be used to finance costs on the company's resource properties and for general working capital purposes.

All securities issued in the financing are subject to a four-month hold period and to all necessary regulatory approvals, including the final acceptance of the TSX Venture Exchange.

Certain insiders of the company participated in the financing by purchasing an aggregate of 839,600 shares. Participation of the insiders in the offering constituted a related party transaction as defined under Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions, but was exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the securities issued to the insiders nor the consideration paid by the insiders exceeded 25 per cent of the company's market capitalization. None of the company's directors expressed any contrary views or disagreements with respect to the foregoing. The company did not file a material change report 21 days prior to the closing of the offering as the details of the participation of the insiders of the company had not been confirmed at that time.

The company also announces that it has entered into an investor relations and communications agreement with Baystreet.ca Media Corp., an arm's-length service provider based in Vancouver, B.C. Under the terms of the agreement, Baystreet will provide investor relations and marketing services. The agreement is for an initial term of three months commencing in January, 2026, upon TSX Venture Exchange approval of filings.

The company will pay cash compensation of $20,000 per month for the term of the agreement. No securities will be issued as compensation. Baystreet does not currently own any securities of the company. The agreement is subject to the approval of the TSX-V.

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. Salazar Resources actively engages with Ecuadorean 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. Salazar Resources already has carried interests in three projects. At its maiden discovery, Curipamba, Salazar Resources has a 25-per-cent stake fully carried through to commercial production. At two copper-gold porphyry projects, Pijili and Santiago, Salazar Resources has a 20-per-cent stake and is to acquire the remainder of such projects from Silvercorp pursuant to the transaction.

We seek Safe Harbor.