Vancouver, British Columbia--(Newsfile Corp. - April 23, 2021) - SALAZAR RESOURCES LIMITED (TSXV: SRL) (FSE: CCG.F) ("Salazar" or the "Company") reports that Ms. Jennifer Hui Wu has tendered her resignation as a director effective today.

Ms. Wu has accepted a senior position with a major US financial institution, and it is a condition of her new employment that all outside directorship be terminated immediately.

The Board wishes Ms. Wu well in her future endeavors and thanks her for her services as a member of the Board.

About Salazar

Salazar 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 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 organisation dedicated to sustainable progress through economic development.

The Company already has carried interests in three projects. At its maiden discovery, Curipamba, Salazar has a 25% stake fully carried through to production. Preparation of 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 about Salazar please contact Merlin Marr-Johnson, Executive Vice President and Corporate Secretary at merlin@salazarresources.com or ir@salazarresources.com.

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.

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