Salazar Resources Announces Results of Annual General Meeting

October 15th, 2021

Salazar Resources Announces Results of Annual General Meeting

VANCOUVER, BRITISH COLUMBIA, October 15th, 2021 -- SALAZAR RESOURCES LIMITED (TSXV: SRL, OTC

QX: SRLZF, Frankfurt: CCG.F) (“Salazar Resources” or the "Company") announces that at the annual

general meeting of shareholders of the Company (the “Meeting”) held on October 14 th, 202 1, the

shareholders elected Messrs. Fredy Salazar, Pablo Acosta, Nick DeMare, Etienne Walter, Merlin Marr-

Johnson and Ms. Mary G ilzean as directors of the Company. The shareholders also passed all other

resolutions including an ordinary resolution to ratify and approve the Company’s existing stock option

plan, pursuant to which the Company may grant stock options up to 10% of its issued and outstanding

common shares at the time of the grant, subject to the number of common shares of the Company

reserved for issuance pursuant to stock options and restricted share units being equal to or less than 10%

of the number of common shares of the Company issued and outstanding on the applicable grant date.

Following the Meeting, the directors appointed Mr. Fredy Salazar as President and Chief Executive Officer

of the Company, Mr. Pablo Acosta as Chief Financial Officer and Mr. Merlin Marr-Johnson as Executive

Vice-President and Corporate Secretary. The Board also appointed Mr. Nick DeMare, Mr. Etienne Walter

and Ms. Mary Gilzean to the audit committee.

About Salazar

Salazar Resources is focused on creating value and positiv e 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 co mmunities and together with the Salazar family it co -founded The Salazar

Foundation, an independent non-profit organisation dedicated to sustainable progress through economic

development.

The Company already has carried interests in three projects. At its maiden discovery, Curipamba, Salazar

Resources has a 25% stake fully carried through to production. A feasibility study is underway and a 2019

PEA generated a base case NPV (8%) of US$288 million. At two copper- gold porphyry projects, Pijili and

Santiago, the Company has a 20% stake fully carried through to a construction decision.

For further information from Salazar please contact Merlin Marr- Johnson, Executive Vice President and

Corporate Secretary at [email protected] or [email protected].

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the

TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.