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SALAZAR RESOURCES LIMITED
#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: 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 (Table 2). The check sampling
(duplicates) gave very similar results to the original samples (Table 3). 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.
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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 Aventura were 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
43-101 has reviewed this news release for accuracy.
ON BEHALF OF THE BOARD OF
SALAZAR RESOURCES LIMITED
“Fredy Salazar”
Fredy Salazar,
President & CEO
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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, Fredy Salazar, President & CEO, Salazar Resources Limited
please contact: T. 593.22278975 or E: fsalazar@salazarresources.com
Nick DeMare, Director & Secretary, Salazar Resources Limited
T. 604.685.9316 or E: ndemare@chasemgt.com
Jeff Tindale, Investor Relations, Empire Communications Inc.
T: 604.484.0066 or E : info@salazarresources.com
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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Table 1
La Aventura
Sample No. Type Width (m) Au g/t Ag g/t Cu PPM Pb PPM Zn PPM
40011 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
Standard
40018 (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)
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Table 3
Previous Analytical Results from Gallo (Checks in columns 10 and 11)
Check Results
Sample
No. Type Width (m) Au g/t Ag g/t Ag ppm Cu % Pb % Zn % Au 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
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Figure 1.0 Location of Salazar Resources Ltd Ecuador Projects
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Figure 2.0 Location Map of Mineral Prospects at Curipamba
