TSX Venture Exchange: SRL Frankfurt Stock Exchange: CCG

#1305 - 1090 West Georgia Street

Vancouver, BC Canada V6E 3V7

Tel: (604) 685-9316  Fax: (604) 683-1585

TSX Venture Exchange: SRL  Frankfurt Stock Exchange: CCG

NEWS RELEASEMAY 2, 2007

Salazar Creates Advisory Board

Mr. Fredy Salazar, President, is pleased to announce that the Company has created an advisory board and appointed Mr. Michael R. Hudson and Mr. Marc Cernovitch as its initial members.

Mr. Michael R. Hudson, B.Sc (Hons) GDipAppFin MAusIMM MSEG MAIG, is a geologist and prospector with 17 years of experience in mineral exploration in Australia, Asia, South America and Europe. He graduated from the University of Melbourne in 1990 with a First Class B.Sc. (Hons) in Geology. Mr Hudson is a co-founder, President, CEO and Director of Mawson Resources Ltd (MAW: TSXv) and has lead the Company in pursuit of uranium, gold and base metals in Sweden, Finland and Spain for the last 3 years. He developed significant exploration to pre-feasibility project management experience during 10 years with Pasminco Ltd in Peru, Pakistan and Australia; and in Sweden via collaboration with BHP Billiton. The last 7 years have been dedicated to developing projects in the Canadian and Australian junior mining sector. His discoveries include the Portia gold deposit in the Olary district of South Australia and the delineation and development of the Duddar zinc project in Pakistan and the Western A-Lode and Pinnacles zinc-lead projects in Broken Hill, Australia. Mr Hudson is fluent in Spanish.

Mr. Marc Cernovitch, educated at McGill University in Economics, is currently Chairman of the Board of Halo Resources Ltd. He started his career in the financial sector as a stockbroker and has lived and worked in Montreal, Calgary, Vancouver, New York and most recently, Toronto. Since leaving the brokerage industry, Cernovitch has focused on corporate development, venture funding and building companies primarily in the resource and energy technology sectors. He has a strong background in corporate governance, finance, as well as all other aspects of business development.

Mr. Salazar, the Company’s President and CEO states “Mr. Hudson and Mr. Cernovitch will assist me in implementing the Company's business plan. Mr. Hudson has worked extensively in the resource sector and Mr. Cernovitch has expertise in corporate development. I look forward to working with both of them.”

ON BEHALF OF THE BOARD OF

SALAZAR RESOURCES LIMITED

“Fredy Salazar”

Fredy Salazar,

President & CEO

Salazar Resources Limited

Salazar Resources Ltd. is a publicly-listed (TSX-V:SRL) mineral resource company engaged in the exploration and development of new highly prospective areas of 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, including Aurelian's Fruta del Norte discovery, IAM Gold's Quimsacocha Deposit, Mozo Deposit, Ex Newmont's Cangrejos Project and International Minerals Rio Blanco and Gaby Deposit. Being an Ecudorian based company gives us a strategic advantage enabling us to do the exploration at a rapid pace. With an excellent property portfolio, good geopolitical positioning and a number of strategic corporate and financial partnerships, Salazar has positioned itself to be a strategic player in Ecuador.

The TSX Venture Exchange has not reviewed and does not accept responsibility

for the adequacy or the accuracy of this release.

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