SRL.V · 2023-05-23 12:00:00

Salazar Resources Grants Stock Op�ons

Corporate Updates

VANCOUVER, BRITISH COLUMBIA, MAY 23, 2023 -- SALAZAR RESOURCES LIMITED (TSXV: SRL, OTC QX:

SRLZF, Frankfurt: CCG.F) (“Salazar Resources” or the "Company") announces the gran�ng of stock op�ons

to directors and oﬃcers of the Company for the purchase of up to 4,910,000 common shares, at a price of

$0.10 per share, for a period of ﬁve years.

About Salazar

Salazar Resources is focused on crea�ng value and posi�ve change through discovery, explora�on and

development in Ecuador. Salazar Resources has a por�olio of copper-gold explora�on projects in Ecuador

w i t h a s t r a t e g y t o m a k e a n o t h e r c o m m e r c i a l d i s c o very and farm -out non -core assets. The Company

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

a 25% stake fully carried through to produc�on. A feasibility study completed in October 2021 generated

a base case NPV (8%) of US$259 million. A t tw o c opper-gold porphyry projects, Pijili and San�ago, the

Company has a 20% stake fully carried through to a construc�on decision.

For further informa�on from Salazar please contact Freddy D. Salazar, Manager, Corporate Development;

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

policies of the TSX Venture Exchange) accepts r esponsibility for the adequacy or accuracy of this news

release.

This press release contains “forward -looking informa�on” within the meaning of applicable securi�es

laws. Any statements that express or involve discussions with respect to predic�ons, expecta�ons, beliefs,

plans, projec�ons, objec�ves, assump�ons or future events or performance (o�en, but not always,

iden�ﬁed by words or phrases such as “believes”, “an�cipates”, “expects”, “is expected”, “scheduled”,

“es�mates”, “pending”, “intends”, “plans”, “seeks”, “forecasts”, “targets”, or “hopes”, or varia�ons of such

words and phrases or statements that certain ac�ons, events or results “may”, “could”, “would”, “will”,

“should” “might”, “will be taken”, or “occur” and similar expressions) are not statements of historical fact

and may be forward-looking statements. Forward-looking informa�on herein includes, but is not limited

to, statements that address ac�vi�es, events, or developments that Salazar expects or an�cipates will or

may occur in the future. Although Salazar has atempted to iden�fy important factors that could cause

actual ac�ons, events or results to diﬀer materially from those described in forward- looking informa�on,

there may be other factors that cause ac�ons, e vents or results not to be as an�cipated, es�mated or

intended. There can be no assurance that such informa�on will prove to be accurate, and actual results

and future events could diﬀer materially from those an�cipated in such informa�on. Accordingly, readers

should not place undue reliance on forward-looking informa�on. Salazar undertake to update any forward-

looking informa�on in accordance with applicable securi�es laws.