Mr. Nick DeMare reports

SALAZAR RESOURCES GRANTS STOCK OPTIONS AND RSUS

Salazar Resources Ltd. has granted stock options to directors and officers of the company for the purchase of up to 3.95 million common shares of the company, at a price of 25 cents per share, for a period of five years. In addition, pursuant to the restricted share unit (RSU) plan adopted by the company on Sept. 25, 2020, as amended Dec. 6, 2022, the company granted 522,000 RSUs to directors and officers. The RSUs will vest over two years.

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 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. 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.