VANCOUVER, BRITISH COLUMBIA, January 25th , 2019 -- SALAZAR RESOURCES LIMITED (TSX‑V: SRL) (Frankfurt: CCG.F) (“Salazar” or the "Company") Mr. Fredy Salazar, President and CEO, is pleased to announce the appointment of Mr. Merlin Marr-Johnson to the Board and as an officer of the Company, with immediate effect.
Mr. Marr-Johnson is a graduate in geology from Manchester University and holds a Master’s Degree in Mineral Deposit Evaluation from the Royal School of Mines, Imperial College. He has 25 years’ experience in the minerals sector, including work as an exploration geologist for Rio Tinto, an analyst for HSBC and a portfolio manager for Blakeney Management. Merlin has worked on projects in South America, Africa, Central Asia and Europe, and as CEO he has brought two companies to AiM, London. He speaks several languages, including Spanish.
Fredy Salazar, CEO of Salazar Resources, commented, "I would like to take this opportunity to welcome Merlin as VP Corporate Development to the Company. Attracting someone of Merlin's calibre, with his sector and capital markets expertise will be a positive addition to the team. He has specialist knowledge, experience and a wealth of international industry contacts, which will help us to build value in Salazar Resources through the development of our asset portfolio and its strategy to become the premier Ecuadorian mine finder."
Options to purchase 1,000,000 shares for a term of five years at a price of $0.12 per share have been granted.
In addition to this board and officer appointment the Company is pleased to announce that Arlington Group Asset Management Limited (“Arlington”) has been retained as the Company’s exclusive capital finder and financial adviser for a term of 24 months. As compensation for services rendered to date the Company has agreed, subject to acceptance of filings with TSX Venture Exchange, to issue Arlington a warrant to purchase 1,000,000 shares at a price of $0.12 for a term of five years.
About Salazar Resources Limited
Salazar Resources Ltd. is a publicly listed (SRL) (Frankfurt: CCG) mineral resource company engaged in the exploration and development of mineral deposits in Ecuador. The company has a proven Ecuadorian discovery team led by ex-head of Newmont Ecuador, Fredy Salazar; a team of 40 people including 15 geologists; two drill rigs and an unrivalled Ecuadorian ‘grass roots’ network. The Salazar team has been involved with many discoveries in Ecuador, including Aurelian's Fruta Del Norte discovery, the Mozo deposit, ex-Newmont's Cangrejos Project and International Minerals’ Rio Blanco; and Gaby Deposit.
Salazar Resources aspires to be Ecuador’s leading project generator with the right partners at the right time making the company self-funding.
Salazar Resources has a joint venture with Adventus on the Curipamba VMS discovery, whereby Adventus can earn 75% of the project by funding exploration and development expenditures of US$25 million before 2024. A feasibility study is expected to be completed during 2019, after which Adventus is required to fund 100% of the development and construction expenditures to commercial production. In addition, Salazar Resources has a funded exploration alliance with Adventus on two other projects, Pijili and Santiago, within a defined Area of Interest.
Salazar Resources is advancing its 100% owned Rumiñahui, Macara Mina, Bonanza and Tingo projects with the aim of making Ecuador’s next significant copper-gold discovery.
Salazar Resources (Chief Executive Officer)
Tel: +593 (0) 99 733 6152
Salazar Resources (VP Corporate Development)
Tel: +44 (0) 7803 712 280