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&amp;lt;SCRIPT language='JavaScript1.1' src="http://ad.doubleclick.net/adj/N4538.Yahoo/B2304017.7;abr=!ie;sz=300x250;dcopt=rcl;click=http://us.ard.yahoo.com/SIG=12g8e0dfc/M=572171.10046333.11330570.8049246/D=fin/S=13598642:LREC/Y=YAHOO/EXP=1180706902/A=4588550/R=1/*;ord=1180699702974284?"&amp;gt;&amp;lt;/SCRIPT&amp;gt;&amp;lt;NOSCRIPT&amp;gt;&amp;lt;A href="http://us.ard.yahoo.com/SIG=12g8e0dfc/M=572171.10046333.11330570.8049246/D=fin/S=13598642:LREC/Y=YAHOO/EXP=1180706902/A=4588550/R=2/SIG=13a45q9no/*http://ad.doubleclick.net/jump/N4538.Yahoo/B2304017.7;abr=!ie4;abr=!ie5;sz=300x250;ord=1180699702974284?"&amp;gt;&amp;lt;IMG src="http://ad.doubleclick.net/ad/N4538.Yahoo/B2304017.7;abr=!ie4;abr=!ie5;sz=300x250;ord=1180699702974284?" BORDER=0 WIDTH=300 HEIGHT=250 ALT="Click Here"&amp;gt;&amp;lt;/A&amp;gt;&amp;lt;/NOSCRIPT&amp;gt; if(window.yzq_d==null)window.yzq_d=new Object(); window.yzq_d['vlk1FthtfGA-']='&U=13bcll29g%2fN%3dvlk1FthtfGA-%2fC%3d572171.10046333.11330570.8049246%2fD%3dLREC%2fB%3d4588550'; <img width=1 height=1 alt="" src="http://us.bc.yahoo.com/b?P=AeqJHdhtfJBFKZ7LRidV5AJT2btjOUZgDDYADTj2&T=1e7pg9vn2%2fX%3d1180699702%2fE%3d13598642%2fR%3dfin%2fK%3d5%2fV%3d2.1%2fW%3dH%2fY%3dYAHOO%2fF%3d949061953%2fH%3dY29icmFuZD0iPGEgaHJlZj1odHRwOi8vdXMucmQueWFob28uY29tL2ZpbmFuY2UvbmV3cy9jY24vU0lHPTExN2R2NzRvMi8qaHR0cDovL3d3dy5jY25tYXR0aGV3cy5jb20vaW5kZXguaHRtbD48aW1nIGJvcmRlcj0wIHNyYz1odHRwOi8vdXMubmV3czIueWltZy5jb20vdXMueWltZy5jb20vcC9maS9wci80OTIzNC5naWYgYWx0PUNDTk1hdHRoZXdzPjwvYT4iIGNhY2hlaGludD0iMTM1OTg2NDIiIGNhY2hlaGludD0iMTM1OTg2NDIi%2fQ%3d-1%2fS%3d1%2fJ%3dD3776DD8&U=13bcll29g%2fN%3dvlk1FthtfGA-%2fC%3d572171.10046333.11330570.8049246%2fD%3dLREC%2fB%3d4588550">Mr. Fredy Salazar, President, is pleased to announce that the Company has entered into an agreement with a syndicate led by Canaccord Capital Corp., which has agreed to purchase, on a bought-deal private placement basis, two million units of the company at a price of $3.00 per unit, for gross proceeds of $6-million. Each unit will consist of one common share and one common share purchase warrant. Each warrant, expiring 24 months from closing, will entitle the holder to subscribe for one additional common share at a price of $4.00.

The underwriters will also have the option to purchase up to an additional one million units at the issue price for a period of up to 48 hours prior to closing for additional gross proceeds of up to $3-million. The company plans to use the net proceeds of this financing to continue exploration on the company's mineral properties and for general working capital purposes.

The offering is scheduled to close on or about May 31, 2007, and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange. The securities to be issued under this offering will be offered by way of private placement exemptions in all the provinces of Canada, offshore and in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended.

Recent News by Salazar Resources -

April 25, 2007 - Salazar Reports Excellent Results from Sesmo, Ecuador 15 m at 39.1 g/t Gold and 741 g/t silver, includes 2 m at 186.5 g/t Gold and 1055 g/t Silver, http://www.salazarresources.com/documents/SRLAPR2507_-_Sesmo_rev_2.pdf

March 20, 2007 - Initial Channel Samples from Curipamba return 17m at 11.2 g/t Gold and 505 g/t Silver, http://www.salazarresources.com/documents/curipamba_initial_samples.pdf

ON BEHALF OF THE BOARD OF SALAZAR RESOURCES LIMITED

Fredy Salazar, President & CEO

Salazar Resources Limited

Salazar Resources Ltd. is a publicly-listed (TSX VENTURE:SRL - News) mineral resource company engaged in the exploration and development of new highly prospective areas of Ecuador. Led by a senior Ecuadorian management team and most notably by its namesake Fredy Salazar, this team has been instrumental in other major discoveries throughout Ecuador, including Aurelian's Fruta del Norte discovery, IAM Gold's Quimsacocha Deposit, Mozo Deposit, Ex Newmont's Cangrejos Project and International Minerals Rio Blanco and Gaby Deposit. Being an Ecudorian based company gives us a strategic advantage enabling us to do the exploration at a rapid pace. With an excellent property portfolio, good geopolitical positioning and a number of strategic corporate and financial partnerships, Salazar has positioned itself to be a strategic player in Ecuador.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release.