Salazar Resources Ltd.

Salazar is a mineral resource company engaged in the exploration and development of mineral deposits in Ecuador and Colombia. 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; three 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 deposits. Salazar aspires to be Ecuador's leading project generator with the right partners at the right time making the company self-funding.

Salazar 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 2020-2021, after which Adventus is required to fund 100% of the development and construction expenditures to commercial production. In addition, Salazar has a funded zinc-exploration alliance with Adventus on two other projects, Pijili and Santiago, within a defined area of interest.

Salazar is advancing its 100% owned Rumiñahui, Macara and Los Osos projects with the aim of making Ecuador's next significant copper-gold discovery.