Salazar Resources provides Ecuador update

Salazar Resources Ltd. reports on recent activities in Ecuador.

On Friday April 18, 2008 Ecuador’s Constitutional Assembly passed a new mining Mandate which is not yet part of the proposed Constitution, but has the effect of a new law. The Company is actively engaged in meetings and discussion with the Ecuadorian Government to get a better understanding of how this Mandate will affect the Company’s activities in Ecuador.

The Company’s exploration programs at Curipamba were beginning to show positive results and we were eagerly looking forward to continued developments with positive news. The recent VMS discovery at Las Naves Central is a high priority follow-up for the Company.

The project is not in an area affected by “protected area status”, nor does this target exemplify an open pit mining scenario. The project’s concessions are in good standing and all environmental permits were accepted by the current government.

The recent introduction of the new mining Mandate was a shock and surprise to all of us. While we will respect the rule of law we believe the recent changes to the mining tenure needs to be re-assessed and we will work hard to encourage change, stated Fredy Salazar, President and CEO.

Salazar Resources is well financed and has assembled a strong and experienced exploration team. While expenditures in Ecuador will be curtailed and placed on a care and maintenance basis, the Company will focus its efforts on reviewing other opportunities and resource properties outside of Ecuador.

The Company is currently evaluating a number of exciting opportunities and hopes to announce a significant new project in the near future.