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SALAZAR RESOURCES LIMITED
#1305 - 1090 West Georgia Street
Vancouver, BC Canada V6E 3V7
Tel: (604) 685-9316 s Fax: (604) 683-1585
TSX Venture Exchange: SRL s Frankfurt Stock Exchange: SRL
NEWS RELEASE APRIL 12th, 2007
EXPLORATION UPDATE
Salazar Resources Limited (TSX-V: SRL, Frankfurt: SRL) Mr. Fredy Salazar wishes to provide this update of the Company's ongoing exploration programs in Ecuador.
As previously announced the Company has a team of over 12 geologists and 60 field assistants working in the field. In February-March 2007 the Company's Q.P., Dr. Howard Lahti, P. Geo. visited the Company's Curipamba, Mendez and La Aventura properties. The objective of the field visit was to examine and evaluate the ongoing exploration being done on the different projects. See attached Figure 1 which is a Location Map of the Company's properties. Summary report of Dr. Lahti follows:
CURIPAMBA
At the present time Company geologists and field assistants are sampling outcrops, trenching, pitting, and collecting soil sampling at Gallo, Sesmo Sur and Sesmo in Las Naves Central. See Figure 2 Location Map of Las Naves Central.
Gallo
While visiting this gold prospect Dr. Lahti organized a rock chip channel sampling program to check some of the recent rock chip samples and to take vertical channel samples at the main showing. The vertical sampling indicated that the gold mineralization extended for an apparent thickness of over 2m with assays varying from 4.93 g/t to 24.2 g/t gold and 57.8 g/t up to 670 g/t silver (Table2). The check sampling (duplicates) gave very similar results to the original samples (Table3). A soil sampling program and more trenching is planned for this gold prospect. A grid will be prepared over and around the prospect and an IP-Mag geophysical survey is planned. The samples 6107-6108 and 6109-6110 are each 2m+ vertical channel samples.
Sesmo Sur
Significant progress is being made in advancing the exploration program at this gold prospect. The altered and brecciated rocks have been extended to over 200m from the original mineralized outcrop. Two vertical channel samples were taken from the original mineralized outcrop located on the access road. The sampling indicated that the gold - silver mineralization (0.77 g/t to 3.97 g/t gold and 8.6 g/t to 124 g/t silver) extends over an apparent thickness of over 6m (Table 4). The area is presently being mapped by an experienced team of contract geologists. The ongoing trenching and rock chip channel sampling will continue. In the future IP and Magnetic surveys are planned before drill commences. The two channel samples extend from 915-918 (8m) and 919-922 (6 m), with 920 a blank.
Sesmo
This prospect is being cleared to expose the barite-silica rich Breccia Zone (3+m) within a sericite altered rhyodacite. The work has just begun so there is no new data available.
LA AVENTURA
The field trip to La Aventura was designed to examine the gold bearing quartz veins located in a granodiorite Au-Cu Target. The channel samples of a few quartz veins and the host rock indicated the quartz veins and float graded from 0.56 g/t to 59.2 g/t gold and up to 0.44% copper (Table 1). The quartz veins and some of the streams are presently being exploited by informal miners. An extensive multidiscipline exploration program is in preparation and is designed to evaluate this large gold - copper property (Table 1).
MENDEZ
The Mendez Property, which lies on the same geology and structure as the Aurelian and the Goldmarca El Condor project, has at this time an unknown potential. Access to the site is difficult and as a result the potential is unknown and there has been limited exploration to date. Conducting limited prospecting along some of the streams the Company has discovered boulders with a low base metal (maximum 1.3% Cu) and gold content. To assist and speed up the evaluation the mineral potential of this large property it was recommended that a regional stream sediment survey be done over the whole property and to conduct prospecting and mapping along streams with anomalous base metal and gold concentrations.
QA/QC
The samples from Curipamba and La Aventurawere analyzed in ALS Chemex. The samples from Mendez Project were analyzed at the Inspectorate Services Peru S.A.C., a Lima, Peru based ISO 2000 Lab.
To help control the QC two certified set of standards and blank samples were purchased. In addition to check variation in the gold and silver concentration every batch of rock chip channel samples sent to the laboratory will include field duplicates. A geologist has been put in charge of QC/QA procedures to monitor all aspects of sampling and to ensure high quality results.
Said Mr. Salazar, "We are extremely pleased with the progress we have made to date with our detailed work programs at the properties. We are making good progress to date and we will continue with our systematic approach".
Howard Lahti, Ph.D. P. Geo, the Qualified Person (QP) in compliance with National Instrument 43101 has reviewed this news release for accuracy.
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, having over sixty personnel on the grounds, including twelve geologists. With an excellent property portfolio (4 projects - 131,300 hectares), good geopolitical positioning and a number of strategic corporate and financial partnerships, Salazar has positioned itself to be a strategic player in Ecuador.
For further information,please contact: / Fredy Salazar, President & CEO, Salazar Resources Limited
T. 593.22278975 or E:
Nick DeMare, Director & Secretary, Salazar Resources Limited
T. 604.685.9316 or E:
Jeff Tindale, Investor Relations, Empire Communications Inc.
T: 604.484.0066 or E:
The TSX Venture Exchange has not reviewed and does not accept responsibility
for the adequacy or the accuracy of this release.
Table 1
La Aventura
Sample No. / Type / Width (m) / Au g/t / Ag g/t / Cu PPM / Pb PPM / Zn PPM40011 / Outcrop / 8.00 / 0.005 / 0.1 / 34 / 2 / 19
40012 / Outcrop / 5.00 / 0.005 / 0.1 / 18 / 2 / 30
40013 / Outcrop / 1 x 0.15 / 6.89 / 9.4 / 949 / 35 / 158
40014 / Outcrop / 12.00 / 0.1 / 0.9 / 626 / 6 / 64
40015 / Outcrop / 2.00 / 0.02 / 0.1 / 229 / 2 / 29
40016 / Outcrop / 3x1 / 0.56 / 0.2 / 274 / 5 / 25
40017 / Float / 59.2 / 60.5 / 3520 / 68 / 95
40018 / Standard (CU130) / 0.88 / 40.2 / 4380 / 63 / 76
Note: 40013 and 40016 are a 30cm and 1m veins respectively. Sample 40017 is float.
Table 2
Vertical Channel and Check Samples Gallo
Sample No. / Type / Width (m) / Au g/t / Ag ppm / Cu % / Pb % / Zn %6104 / Outcrop / 2.00 / 10.75 / 670.00 / 0.37 / 0.25 / 0.23
6105 / Outcrop / 2.00 / 0.31 / 2.30 / 0.03 / 0.11 / 0.02
6106 / Outcrop / composite / 12.65 / 529.00 / 0.79 / 0.58 / 0.71
6107 / Outcrop / 1.40 / 4.93 / 57.80 / 0.19 / 0.60 / 0.20
6108 / Outcrop / 1.50 / 11.20 / 550.00 / 0.45 / 0.28 / 0.14
6109 / Outcrop / 1.70 / 9.36 / 145.00 / 0.06 / 0.20 / 0.08
6110 / Outcrop / 1.40 / 24.20 / 303.00 / 0.15 / 0.18 / 0.05
6111 / Outcrop / 2.00 / 5.58 / 275.00 / 0.12 / 0.18 / 0.08
6112 / Outcrop / 1.60 / 19.90 / 158.00 / 0.11 / 0.26 / 0.07
Sample 6106 (composite sample of barite and silca fragments in breccia)
Table 3
Previous Analytical Results from Gallo (Checks in columns 10 and 11)
Sample No. / Type / Width (m) / Au g/t / Ag g/t / Ag ppm / Cu % / Pb % / Zn % / Check ResultsAu g/t / Ag g/t
75 / Outcrop / 2.00 / 11.2 / 478.0 / 478.0 / 0.23 / 0.34 / 0.26 / 12.65 / 529.0
76 / Outcrop / 2.00 / 6.6 / 283.0 / 283.0 / 0.37 / 0.19 / 0.08 / 8.17 / 314.38
77 / Outcrop / 2.00 / 5.2 / 337.0 / 337.0 / 0.26 / 0.24 / 0.16 / 5.58 / 275.00
78 / Outcrop / 2.00 / 11.9 / 642.0 / 642.0 / 0.36 / 0.19 / 0.16
83 / Outcrop / 1.00 / 0.4 / 4.8 / 4.8 / 0.03 / 0.10 / 0.08
84 / Outcrop / 2.00 / 8.8 / 403.0 / 403.0 / 0.18 / 0.20 / 0.10 / 10.75 / 670.00
85 / Outcrop / 2.00 / 4.5 / 252.0 / 252.0 / 0.08 / 0.14 / 0.03
86 / Outcrop / 2.00 / 2.3 / 117.0 / 117.0 / 0.12 / 0.06 / 0.10
87 / Outcrop / 2.00 / 10.5 / 487.0 / 487.0 / 0.15 / 0.19 / 0.06
88 / Outcrop / 2.00 / 3.8 / 161.0 / 161.0 / 0.08 / 0.18 / 0.17
95 / Outcrop / 2.00 / 0.4 / 11.6 / 11.6 / 0.03 / 0.06 / 0.02 / 0.31 / 2.30
96 / Outcrop / 2.00 / 1.1 / 13.7 / 13.7 / 0.03 / 0.11 / 0.02
97 / Outcrop / 2.00 / 0.2 / 0.1 / 0.1 / 0.04 / 0.13 / 0.04
98 / Outcrop / 2.00 / 0.4 / 2.0 / 2.0 / 0.01 / 0.03 / 0.01
99 / Outcrop / 2.00 / 3.0 / 74.4 / 74.4 / 0.74 / 0.21 / 0.05
100 / Outcrop / 2.00 / 6.3 / 34.0 / 34.0 / 0.19 / 0.28 / 0.04
101 / Outcrop / 2.00 / 2.7 / 5.7 / 5.7 / 0.07 / 0.24 / 0.05
102 / Outcrop / 2.00 / 0.1 / 0.3 / 0.3 / 0.01 / 0.12 / 0.03
103 / Outcrop / 2.00 / 0.1 / 0.5 / 0.5 / 0.02 / 0.17 / 0.13
104 / Outcrop / 2.00 / 12.9 / 133.0 / 133.0 / 0.06 / 0.27 / 0.07
105 / Outcrop / 2.00 / 7.9 / 146.0 / 146.0 / 0.33 / 0.58 / 0.49
106 / Outcrop / 2.00 / 17.1 / 336.0 / 336.0 / 0.08 / 0.25 / 0.05
107 / Outcrop / 2.00 / 10.3 / 342.0 / 342.0 / 0.30 / 0.38 / 0.24 / 19.90 / 158.00
Note: Sample 6104 dup N84; 6105 dup N95; 6111 dup N77; 6112 dup N107
Table 4
Channel sample results from Sesmo Sur
Sample No. / Type / Width (m) / Au g/t / Ag g/t / Cu (%) / Pb (%) / Zn (%)915 / Outcrop / 2.00 / 2.35 / 100.00 / 0.07 / 0.15 / 0.04
916 / Outcrop / 2.00 / 1.68 / 28.40 / 0.03 / 0.15 / 0.05
917 / Outcrop / 2.00 / 0.92 / 8.10 / 0.03 / 0.06 / 0.03
918 / Outcrop / 2.00 / 3.59 / 36.60 / 0.09 / 0.06 / 0.04
919 / Outcrop / 2.30 / 3.34 / 100.00 / 0.03 / 0.16 / 0.03
920 / Blank / 0.01 / <.0.2 / .008 / .0006 / .006
921 / Outcrop / 1.50 / 3.97 / 48.50 / 0.05 / 0.12 / 0.03
922 / Outcrop / 0.77 / 8.6 / 0.03 / 0.02 / 0.02
Figure 1.0 Location of Salazar Resources Ltd Ecuador Projects
Figure 2.0 Location Map of Mineral Prospects at Curipamba