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 (TSX: SRL | OTC: SRLZF) Overview "Salazar Resources Ltd. is a publicly-listed (TSX-V:SRL) mineral resource company engaged in the exploration and development of new highly prospective areas in Ecuador. Led by a senior Ecuadorian management team and most notably by its namesake Fredy Salazar, this team has been instrumental in other major discoveries throughout Ecuador, including Aurelian's Fruta del Norte discovery, IAM Gold's Quimsacocha Deposit, Mozo Deposit, Ex Newmont's Cangrejos Project and International Minerals’ Rio Blanco and Gaby Deposit. Being an Ecuadorian based company gives us a strategic advantage enabling us to do exploration work cost effectively while at a rapid pace." - from the web site Highlights
Shares O/S: 46.075MM Warrants: 5.6MM Options: 3.9MM Shares FD: 55.76MM Working capital: ~$4.0MM Resources Salazar Resources web site Fact Sheet Salazar Resources corporate presentation (Feb 2012) Company Profile at 24hGOLD site Mining 101: What is a Massive Sulfide? "Volcanoes of the Deep Sea" movie Charts: Daily - Weekly - Monthly Images Ecuador - exploration projects VMS deposits explained Curipamba Project Hydrothermal Model Sequential Development of the Los Naves Massive Sulphide Curipamba Project map Naves Central sample results Los Naves Phase 2 Drill Program Los Naves Phase 2 Drill Program - close-up Sesmo Sur Phase 2 Drill Program El Domo: Drill Location map - Drill Locations photo - Fault - 3-D View - Cross-section - Drill highlights Santiago: Project Map - Regional Geological Map 12/03/13 SALAZAR PROVIDES UPDATE FROM THE PRESIDENT Vancouver, British Columbia, December 3rd, 2013 - Salazar Resources Ltd. (TSX.V: SRL; FSE: CCG) (the "Company") is pleased to provide the following update from Fredy Salazar, President and CEO: I want to express my many thanks to the Company's shareholders for their invaluable assistance and support to the Company in these complicated times for the mining industry. Without the continued support and loyalty of our shareholders we would not have been able to continue advancing Salazar from an exploration company to a mine development and production company. Salazar has not been immune to the many difficulties which junior resource companies are facing in this current market environment, but fortunately despite these difficult circumstances, the Company has been able to continue working diligently towards achieving its objective of continuing to progress and develop its El Domo project towards a production decision. Earlier this year the Company finalized a strategic investment agreement with Union Mining International BV, (a wholly owned subsidiary of Trafigura Beheer B.V.) to help advance the Curipamba project towards a mine development stage. The agreement, amongst other things, provided for the necessary funding for the completion of a Preliminary Economic Assessment ("PEA") at the El Domo deposit within the Curipamba project. The PEA is nearing completion and is expected to be finalized in January 2014. As part of the completion of the PEA significant work is being completed on several aspects of the El Domo project, including: - An update of the current resource estimate at El Domo incorporating the results of the most recent drilling campaign; - Metallurgical studies to determine the best recovery methods for the existing metals at El Domo; and - Design alternatives for both open pit and underground mining methods. The Company looks forward to presenting the results of the PEA in the coming month to its shareholders. The Government of Ecuador in recent months presented changes to the Mining Law and has introduced a new medium-sized mining category. The government approval process for production capacity up to 1,000 tonnes of ore per day for underground operations, and up to 2,000 tonnes per day for open pit operations, has been significantly simplified, and will be governed by the Mining Law versus having to negotiate taxation and royalty terms with the Government as is the case for larger scale projects. This is of significant importance as these medium sized mining companies will no longer be required to sign a Production Contract with the State, and therefore will not be subject to windfall taxes but rather have a fixed 4 percent royalty rate. The El Domo scale of operations will fall within this range and therefore be classified as a medium sized mining company and significantly benefit from reduced tax rates. At the present time, the Ministry of Nonrenewable Natural Resources is drafting the regulations allowing for an immediate application of these reforms. We are confident the regulations will confirm the rules and provide encouragement for mining development in Ecuador. We await the results of the updated resource estimates and more advanced metallurgical testing and once received, the Company will be providing a further update. ON BEHALF OF THE BOARD OF SALAZAR RESOURCES LIMITED Fredy Salazar, President & CEO Salazar Resources Limited | ||||||||||||||
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