Company Overview

Salazar Resources Limited is a Canadian-based mineral exploration company operating primarily in the gold and copper mining industry, with a strategic focus on Ecuador. The company’s core business involves the acquisition, exploration, and advancement of precious and base metal projects, particularly epithermal gold-silver and porphyry copper-gold systems. Salazar Resources does not currently generate operating revenue and is primarily funded through equity financing to support exploration activities.

The company’s primary value drivers are its portfolio of early- to mid-stage exploration assets and its technical expertise in Ecuadorian geology. Salazar Resources is recognized for its first-mover advantage in Ecuador following mining reforms that opened the country to foreign investment, and for maintaining strong relationships with local communities and government entities. Founded in 2007, the company evolved from a regional exploration venture into a strategic partner for major mining companies seeking exposure to Ecuador’s underexplored mineral belts.

Business Operations

Salazar Resources conducts its business through mineral exploration programs that include geological mapping, geochemical sampling, geophysical surveys, and drilling. Its key operating assets include Curipamba, Pijilí, Los Osos, and Rumiñahui projects, with Curipamba being the most advanced. The Curipamba Project is operated through Curipamba El Domo S.A., a joint venture entity in which Salazar Resources holds an equity interest, and which is partnered with Silvercorp Metals Inc. for development and advancement.

Operations are concentrated in Ecuador, with corporate, technical, and administrative oversight managed from Canada. The company controls its assets through wholly owned Ecuadorian subsidiaries and joint venture structures, enabling compliance with local mining regulations. Salazar Resources does not operate producing mines and has no refining or downstream processing activities, relying instead on partnerships for project development beyond the exploration stage.

Strategic Position & Investments

The company’s strategic direction centers on advancing exploration assets to resource definition and development decision points, while leveraging joint ventures to reduce capital risk. A key strategic investment is its stake in Curipamba El Domo, which hosts a volcanogenic massive sulphide deposit containing copper, gold, silver, zinc, and lead. This project represents Salazar Resources’ most significant near-term development opportunity.

Salazar Resources continues to invest in grassroots and brownfield exploration across its Ecuadorian portfolio, targeting emerging copper-gold districts. The company has not completed major corporate acquisitions outside of project-level earn-ins and option agreements. Its strategic positioning emphasizes technical expertise, early-stage project generation, and partnership-driven advancement rather than mine operation.

Geographic Footprint

Salazar Resources’ operational footprint is concentrated in Ecuador, where all exploration assets are located across multiple mineral belts, including the Western Cordillera and Andean volcanic arcs. These regions are considered geologically prospective and remain underexplored relative to other Latin American mining jurisdictions. Field operations, community engagement, and regulatory interactions are conducted locally through Ecuadorian subsidiaries.

Corporate headquarters and investor relations activities are based in Canada, reflecting the company’s listing on the TSX Venture Exchange. While the company does not have operating assets outside Ecuador, its capital markets presence and governance structure are aligned with Canadian securities regulations, and its investor base is primarily North American.

Leadership & Governance

Salazar Resources was founded by Fredy Salazar, whose experience as Ecuador’s former Minister of Mines and Petroleum has shaped the company’s focus on regulatory alignment and stakeholder engagement. The leadership team emphasizes disciplined exploration, community relations, and strategic partnerships as core governance principles.

Key executives and directors include:

• Fredy Salazar – Chairman
• Irving Magno – President & Chief Executive Officer
• Yuri Flores – Vice President, Exploration
• Chris Jones – Chief Financial Officer

The board and management team combine local Ecuadorian expertise with Canadian public company experience, supporting oversight, compliance, and long-term value creation.