Salazar Comments on New Ecuadorian Mining Inspection Fee
Salazar Comments on New Ecuadorian Mining Inspection Fee
VANCOUVER, BRITISH COLUMBIA, June 19th 2025 -- SALAZAR RESOURCES LIMITED (TSXV: SRL,
OTCQX: SRLZF, Frankfurt: CCG.F) (“Salazar” or the "Company") comments on the new mining inspection
fee being implemented by the Ecuadorian Control and Regulation Agency (“ARCOM”) . The stated
objective of this fee is to strengthen oversight and combat illegal mining activities. This fee is to be applied
to all mining operations , except for artisanal mining, with the aim of generating funds to support
enforcement efforts.
As presented, the proposed fee would require the Company to pay approximately US$ 332,000 for its
current concessions, of which US$47,000 is due in June 2025 and US$ 285,000 is due in January 2026. A
significantly higher fee will be incurred on the completion of the purchase of exploration properties from
Silvercorp Metals Inc (see news release December 23, 2024 ), or on any new licences granted to Salazar.
The payments envisaged by the ARCOM decree are not supportable and represent approximately ten
times the amount the Company pays for its annual concession fees in Ecuador.
The Company is collaborating with various chambers and associations in the Ecuadorian mining sector
and all other mining/exploration companies in Ecuador, to ensure that relevant authorities understand
the damage that this fee will do to the Ecuadorian Mining Industry and to the reputation of the Country
as an investment destination. The ARCOM resolution places an unsustainable cost burden on companies
operating within the sector and undermine s confidence in Ecuador’s regulatory consistency and
commitment to mining development.
The Company has reached out to the Ecuadorian Government at the highest levels and will continue in
discussions with the Mining Chamber of Ecuador and the Company’s respective legal counsels as joint
industry efforts are taking place to rescind this regulation. The Company will assess options for further
courses of action.
Said Mr. Fredy Salazar, CEO, “while the Company applauds the government ’s efforts to strengthen
supervision of mining activities to ensure criminal elements are eliminated from the sector, this new fee is
not a good solution. The ruling will make it impossible to stake and hold large land holdings on which to
conduct exploration and find the next generation of mineral deposits. Exploration is an essential part of a
successful mining industry, and t he new fee structure will stop most exploration in Ecuador and
furthermore it will worsen the international reputation of the Country. W e are in discussions with the
government to ensure that it is aware of the unintended consequences of this ill-conceived ruling.”
About Salazar
Salazar Resources Limited 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. The Company 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. At its maiden discovery, Curipamba, Salazar
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Resources has a 25% stake fully carried through to production. The Company is in the process of acquiring
100% of two copper -gold porphyry projects, Pijili and Santiago. For further information from Salazar
Resources, please contact Nick DeMare, Director, at [email protected] or at 604-685-9316. Please
also visit the Salazar Resources website at www.salazarresources.com.
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TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.