Salazar Resources Ltd. (SRLZF)

[guay]

SALAZAR AND GUANGSHOU GROUP ANNOUNCE LETTER-OF-INTENT TO ADVANCE THE CURIPAMBA PROJECT IN ECUADOR

Salazar Resources Ltd. and Guangshou Group Co. Ltd., a privately held Chinese international mining conglomerate, have entered into a letter of intent (LOI) for a joint venture to develop the Curipamba project and advance the El Domo deposit to commercial production. The LOI sets out certain terms and conditions pursuant to which Guangshou will finance development of the El Domo deposit to commercial production, with a commitment to invest $50 Million to earn a 60% equity interest in Curimining S.A., an Ecuador corporation that is a wholly-owned subsidiary of Salazar, all of which is subject to the negotiation of a definitive development and shareholders agreement ("Definitive Agreement") between Guangshou and Salazar.