Announcement • Apr 10
Salazar Resources Limited Identifies High-Priority Copper-Gold Porphyry Target At Its Monja Project Salazar Resources Limited evaluated its wholly owned portfolio of properties throughout Ecuador, conducting baseline geological work to define appropriate development strategies for each project. The Company has identified the 100% owned Monja Project as a cornerstone asset on which the Company will focus its exploration programs, while continuing to advance and assess its remaining properties. The decision to focus on its 100% owned Monja Project, which is located in the Loja Province and covers 9,088ha across two licenses, is based on the results achieved to date, and the work required to advance the project to the next stage. Surface mapping in the Monja project has defined a copper-gold porphyry system containing a two kilometer by one kilometer central core, within a Paleocene-Miocene metallogenic belt known to host multiple significant copper deposits in southern Ecuador. Mineralization observed to date includes hydrothermal breccias with pyrite-chalcopyrite matrix, quartz-sulphide stockwork veining, and locally bornite, together with well-mineralized tourmaline breccias, all considered strong indicators of porphyry fertility. Sampling has returned elevated copper and gold values from the central portion of a concentric porphyry system, while epithermal veins higher in the system show evidence of historical small-scale gold extraction, confirming the presence of a vertically preserved mineralizing environment. Salazar has planned a high-impact mapping, sampling and ground geophysics program to further define drill targets. The concession benefits from year-round exploration access and is considered a priority early-stage target within the Company’s Ecuadorian portfolio. The Monja Copper-Gold Project is located in Loja Province, Ecuador, covering 9,088 hectares across two licenses. A review of historical data and field reconnaissance has been completed. The project lies on the northeast margin of the Lancones Basin, which hosts recognized volcanogenic massive sulfides and porphyry deposits including the giant volcanic-hosted Tambo Grande massive sulphide deposit and the Rio Blanco porphyry in Peru. The project is also in close proximity to the Sunstone Metals’ Bramaderos porphyry project in Ecuador. Sampling Program: A total of nine rock chip samples were collected from mineralized outcrops. Three samples (51584, 51583 and 51587) returned encouraging results. The best result came from sample 51584 which returned 4.77% Cu, 1.12 g/t Au, 19.5 g/t Ag, 74 ppm Mo. The samples were taken from outcropping granodiorite and hydrothermal breccias hosting Cu-porphyry–style mineralization: hydrothermal breccias with pyrite-chalcopyrite matrix, quartz-sulphide stockwork veining, and traces of bornite. Rock chip samples are selective by nature and may not be representative of the underlying mineralization. The result is preliminary, and additional work is required to determine the extent, continuity, and significance of the mineralization. Announcement • Mar 20
Salazar Resources Limited (TSXV:SRL) completed the acquisition of certain exploration assets in Ecuador from Silvercorp Metals Inc. (TSX:SVM). Salazar Resources Limited (TSXV:SRL) signed a letter of intent to acquire certain exploration assets in Ecuador from Silvercorp Metals Inc. (TSX:SVM) on December 23, 2024.
The Transaction is subject to the finalization of definitive agreement and customary closing conditions. The transaction is expected to close in the first quarter of 2025. Salazar Resources Limited (TSXV:SRL) signed an agreement acquire certain exploration assets in Ecuador from Silvercorp Metals Inc. (TSX:SVM) on July 28, 2025. Salazar Resources and Silvercorp are moving to close the Transaction.
Salazar Resources Limited (TSXV:SRL) completed the acquisition of certain exploration assets in Ecuador from Silvercorp Metals Inc. (TSX:SVM) on March 18, 2026. With ownership consolidation largely complete, Salazar Resources Limited is now focused on advancing priority exploration targets toward drilling in 2026. New Risk • Mar 06
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -CA$2.4m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-CA$2.4m free cash flow). Earnings have declined by 34% per year over the past 5 years. Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (CA$55.5m market cap, or US$40.6m). 
