Salazar Resources to Privately Place $1.5M Shares

Vancouver, British Columbia (Newsfile Corp., March 28, 2024) Salazar Resources Limited (TSXV: SRL) (OTCQX: SRLZF) (FSE: CCG), a leading exploration and development company in Ecuador, has announced the arrangement of a non-brokered private placement for the sale of up to 30 million common shares at a price of C$0.05 per share. This move is set to raise gross proceeds, reaching up to C$1,500,000.

This strategic financial decision anticipates insider participation up to an amount of C$325,000 within this private placement. Finder's fees may be payable on a portion of the private placement; subsequently, net proceeds will be channeled towards working capital and further exploration activities.

A four-month hold period applies to all securities issued under this private placement pending necessary regulatory approvals, including final acceptance from the TSX Venture Exchange.

Importantly, this press release shall not constitute an offer or solicitation for sale in any jurisdiction where such action would be deemed unlawful. The shares have not been registered under the United States Securities Act of 1933 or securities laws pertaining to any US state; hence, they cannot be offered or sold within United States territories without registration compliance or exemption therefrom.

Founded with a commitment to value creation and positive change through discovery and development initiatives in Ecuador’s resource-rich landscape, Salazar Resources maintains unrivaled geological understanding that has played a pivotal role in the discovery many major projects, including two new operating gold-copper mines across the country.

The company owns pipeline copper-gold exploration projects throughout Ecuador with a defined strategy aimed at making another commercial discovery while concurrently farming out non-core assets. Alongside business interests, Salazar Resources actively engages with local communities, fostering sustainability via economic development initiatives led by the Salazar Foundation, co-founded alongside the Salazar family as an independent non-profit organization.

Currently holding an interest in three projects, Salazar Resources has a 25% stake in Curipamba, its maiden discovery project. Additionally, it holds a 20% stake in two copper-gold porphyry projects, Pijili and Santiago, fully carried through to a construction decision.

For further information regarding this announcement or any other related queries, contact Nick DeMare, Director, at [email protected] or call directly at 604-685-9316. For more comprehensive details, visit the official Salazar Resources website: www.salazarresources.com.

The TSX Venture Exchange and its Regulation Services Provider accept responsibility for the adequacy or accuracy of this news release.

This press release is not intended for distribution to United States newswire services or dissemination in United States territories, either directly or indirectly.

Please refer to the source version of this press release via https://www.newsfilecorp.com/release/203391.