Vancouver, British Columbia--(Newsfile Corp. - June 16, 2026) - SALAZAR RESOURCES LIMITED (TSXV: SRL) (OTCQB: SRLZF) (FSE: CCG) ("Salazar" or the "Company") is pleased to report results from rock chip sampling and geologic mapping at its 100%-owned El Tigre Project in Loja Province, Ecuador. The program builds on previously reported geological, geochemical, and geophysical work and marks a significant step in defining a priority drill target.
HIGHLIGHTS
T2 Zone: 45m grading 8.94 g/t AuEq (weighted average from semi-continuous rock chip samples)
T3 Zone: 50m grading 2.02 g/t AuEq (weighted average from semi-continuous rock chip samples)
Results define a laterally extensive, gold-bearing barite-rich horizon measuring approximately 650m x 500m at surface
Geological characteristics show notable similarities to the Tambo Grande district (TG1 deposit, Peru) - a world-class VMS system hosted within correlative Lancones Formation stratigraphy¹
Mineralization remains open along strike and at depth; scout drilling program now being designed to test both surface and subsurface sulphide targets
Fredy Salazar, President and CEO, commented: "El Tigre is emerging as a genuinely compelling target. A 650-metre by 500-metre gold-bearing barite horizon at surface, with geological characteristics that echo the Tambo Grande system, is exactly the kind of footprint that warrants aggressive follow-up. We are now designing a scout drill program to test both the surface mineralization and the potential for underlying sulphide mineralization at depth. This is an exciting moment for the project."
Sampling and Geological Interpretation
The current program was designed to expand and infill previously identified geochemical anomalies and mapped mineralized zones. When integrated with historical datasets and geological work (see news releases dated July 11, 2019; November 12, 2020; January 14, 2021; and April 13, 2021), the results added more detail to the gold-bearing, barite-rich hydrothermal breccia where the Company previously reported grades of up to 9.94 g/t Au in soil and 29.60 g/t Au in rock samples.
As previously reported (July 11, 2019), the mineralization is hosted in Cretaceous pillow lavas of the Celica formation. The mineralization is associated with hydrothermal breccias and stockworks containing barite veinlets, intense silicification and sporadic silver sulphosalts. This horizon is accompanied by iron oxide staining and elevated gold and silver values. Fifteen of the newer samples were aligned with historical rock chip samples to form trench-like intervals and the remaining were taken from other sites where the breccia was mapped. (Image1)
As a result, this laterally extensive, gold-bearing, barite-rich horizon is found to be exposed at surface over approximately 650 m by 500 m and locally within a ravine with up to 60 m of vertical relief (see cross-section), providing an excellent natural exposure through the ravine. Although the higher-grade intervals vary within this horizon, its surface footprint has been mapped in detail as seen on Map 1 and Map 2.
A total of 66 rock chip samples were collected between March and June of this year throughout the property, of which, 15 samples returned values above 0.4 g/t Au representing 23% of the total. Those 15 samples are related to hydrothermal breccia. The sampling followed exposed outcrops along small horse trails (T1-T4) and following a ravine (T5), controlled primarily by outcrop exposure. Sampling is non-contiguous and spacing between samples varies. The exception is T1, which represents a continuous trench sampled with 3-meter intervals (Table 1).
Reported intervals do not represent true widths, and the geometry and continuity of mineralization at depth have not yet been established. However, the pervasive alteration and elevated gold values indicate a high-priority exploration target.
Note: The intervals with no samples are not included in the weighted averages. The weighted average grades and the AuEq calculations are made on the Total Sampled Lengths of T1 to T5 (Table 1). These values are projected as the possible grades of the "Overall Surface Length".
The Au-bearing barite zone, based on mapping and sampling, is interpreted to be horizontally continuous in the field (manto-style), and the intersections, at this time, are considered to be possible representative grades.
Regional setting and correlations to Tambo Grande, Peru.
The Company considers this a compelling target based on its scale, association with barite-rich mineralization, spatial relationship with hydrothermal brecciation and sulphide mineralization. Zones of oxidation and locally developed gossan occur both directly above the interpreted barite-rich horizon and more broadly across the surrounding area (Map 4).
These features show similarities to the gold-bearing barite cap and oxide zones at the TG1 deposit in the Tambo Grande district of northern Peru, hosted within correlative Lancones Formation stratigraphy¹. In both settings, mineralization is associated with barite-rich horizons, oxidation zones, hydrothermal breccias, and stockwork veining within volcanic sequences².
This comparison remains conceptual, and insufficient work has been completed to confirm a direct analogue. However, the observed similarities provide a useful exploration framework and support the potential for a vertically developed hydrothermal system with possible underlying sulphide mineralization.
Tambo Grande is a giant Volcanogenic Massive Sulfide with an estimated resource of: TG1: 109 Mt tons of 1.6% Cu, 1.0% Zn, 0.5 g/t Au and 22 g/t Ag; and TG3 (Algarrobos): 82 Mt 1.0% Cu, 1.4% Zn, 0.8 g/t Au and 25 g/t Ag³.
Table 1. El Tigre sampling details including historical sampling (SRL).
| T1 | 2026 Program | Historical Samples | Type | Au (g/t) | Ag g/t | Sample Width | Total Sampled Length (m) discontinuous | Weighted Average Grade Au (g/t) | Weighted Average Grade Ag (g/t) | Weighted Average AuEq* (g/t) | Overall Surface Length (m) | Lithology |
| 50463 | Chip | 0.30 | 17.00 | 2 | 29 | 0.26 | 10.69 | 0.42 | 29 | Au-bearing Barite Hydrothermal Breccia | ||
| 400371 | Chip | 0.11 | 3.40 | 3 | ||||||||
| 400372 | Chip | 0.13 | 8.20 | 3 | ||||||||
| 400373 | Chip | 0.19 | 9.60 | 3 | ||||||||
| 400374 | Chip | 0.37 | 14.20 | 3 | ||||||||
| 400375 | Chip | 0.11 | 5.40 | 3 | ||||||||
| 400376 | Chip | 0.31 | 13.60 | 3 | ||||||||
| 400379 | Chip | 0.01 | 0.10 | 3 | ||||||||
| 400382 | Chip | 0.54 | 28.80 | 3 | ||||||||
| 400383 | Chip | 0.50 | 8.70 | 3 | ||||||||
| T2 | 700354 | Chip | 0.14 | 4.06 | 3 | 23.5 | 6.57 | 116.79 | 8.94 | 45 | Au-bearing Barite Hydrothermal Breccia | |
| 700357 | Chip | 17.50 | 155.95 | 2.5 | ||||||||
| NVII-A3-A-BR-014 | Chip | 11.12 | 161.00 | 3 | ||||||||
| NVII-A3-A-BR-012 | Chip | 14.12 | 310.10 | 3 | ||||||||
| NVII-A3-A-BR-003 | Chip | 0.60 | 14.48 | 3 | ||||||||
| 50460 | Chip | 1.24 | 20.30 | 3 | ||||||||
| 50461 | Chip | 29.60 | 512.00 | 1 | ||||||||
| 52126 | Chip | 10.50 | 172.20 | 2 | ||||||||
| NVII-A3-A-BR-013 | Chip | 7.50 | 123.50 | 3 | ||||||||
| T3 | 52090 | Chip | 0.56 | 26.00 | 5 | 24 | 1.48 | 35.24 | 2.02 | 50 | Au-bearing Barite Hydrothermal Breccia | |
| NVII-A3-A-BR-017 | Chip | 0.60 | 23.50 | 3 | ||||||||
| 50291 | Chip | 0.03 | 10.30 | 4 | ||||||||
| NVII-A3-A-BR-018 | Chip | 2.70 | 138.00 | 3 | ||||||||
| 52136 | Chip | 0.10 | 2.50 | 3 | ||||||||
| 700356 | Chip | 7.40 | 23.77 | 3 | ||||||||
| 52135 | Chip | 0.03 | 37.10 | 3 | ||||||||
| T4 | 700352 | Chip | 0.25 | 6.30 | 3 | 16 | 3.64 | 17.14 | 3.91 | 25 | Au-bearing Barite Hydrothermal Breccia | |
| 52088 | Chip | 6.50 | 36.70 | 7 | ||||||||
| 700351 | Chip | 4.22 | 6.53 | 3 | ||||||||
| 52089 | Chip | 0.04 | 0.70 | 3 | ||||||||
| T5 | 51103 | Chip | 0.01 | 0.40 | 3 | 11.5 | 0.64 | 7.58 | 0.76 | 17 | Au-bearing Barite Hydrothermal Breccia | |
| 51104 | Chip | 1.80 | 21.60 | 1 | ||||||||
| 51105 | Chip | 0.01 | 0.60 | 1 | ||||||||
| 51106 | Chip | 0.02 | 0.50 | 1 | ||||||||
| 50455 | Chip | 0.01 | 0.60 | 3 | ||||||||
| 400389 | Chip | 2.20 | 24.60 | 2.5 | ||||||||
| OTHER RELEVANT SAMPLES | NVIII-A3-A-BR-002 | Chip | 1.71 | 22.15 | 2 | Au-bearing Barite Hydrothermal Breccia | ||||||
| NVIII-A3-A-BR-008 | Chip | 1.21 | 8.49 | 2 | ||||||||
| NVIII-A3-A-BR-015 | Chip | 7.67 | 237.80 | 2 | ||||||||
| NVIII-A3-A-BR-016 | Chip | 22.56 | 169.90 | 2 | ||||||||
| 50114 | Chip | 1.15 | 46.20 | 4 | Pillow Lavas | |||||||
| 50115 | Chip | 1.50 | 128.10 | 2 | ||||||||
| 50457 | Chip-Float | 0.78 | 10.50 | 0.2 | Au-bearing Barite Hydrothermal Breccia | |||||||
| 52099 | Chip | 0.61 | 9.10 | 5 | ||||||||
| 52100 | Chip | 0.89 | 26.60 | 5 | ||||||||
| 52092 | Chip-Float | 2.79 | 116.10 | 1 | ||||||||
| 52097 | Chip | 3.77 | 45.80 | 5 | ||||||||
| 52113 | Chip | 0.62 | 17.10 | 4 | ||||||||
| 52108 | Chip-Float | 0.94 | 126.40 | 0.5 | ||||||||
| 52120 | Chip | 1.20 | 9.30 | 3 | ||||||||
| 400356 | Chip | 0.45 | 19.50 | 2.8 | ||||||||
| 400370 | Chip | 0.23 | 9.10 | 0.4 | ||||||||
| Notes: *AuEq values were calculated using June 9, 2026 spot prices: Au: US$ 4,278.1/oz and Ag: US$65.58/oz. Source: -Bold/highlighted rows indicate exceptional-grade samples. Samples are rock chip samples. The rock chip samples described in this release are selective in nature and are taken to identify the presence of mineralization. The results are not necessarily representative of the overall grade or extent of the mineralization on the property. -"Total Sampled Length" represents the sum of the width of the samples and "Overall Surface length" represents the total length from the beginning of the first sample to the end of the last sample. | ||||||||||||
Map 1. El Tigre mineralized intervals and rock chip samples.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4631/301630_03cdcec464d53b81_003full.jpg
Map 2. El Tigre Cross-section with vertical exaggeration
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https://images.newsfilecorp.com/files/4631/301630_03cdcec464d53b81_004full.jpg
Map 3. Detailed map of semi-contiguous trench-like intervals
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https://images.newsfilecorp.com/files/4631/301630_salazarmapthree.jpg
Map 4. Interpretative correlations to Tambo Grande VMS deposit
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4631/301630_03cdcec464d53b81_007full.jpg
Image 1. a) Au-bearing Barite Hydrothermal Breccia; b) Sample 700357 – 17.50 g/t Au and 155.95 g/t Ag; c) Sample 700351 – 4.22 g/t Au and 6.53 g/t Ag;
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4631/301630_salazarimageone.jpg
Integration with Geophysics
The geological model is supported by ground-based magnetic and gravity surveys completed in late 2020 (see January 14, 2021 and April 13, 2021 news releases). Magnetic data define an anomaly underlying the central portion of the property, spatially associated with gold-in-soil anomalies and interpreted as a potential structural or hydrothermal feature.
Gravity data outline a relative low-density zone coincident with mapped hydrothermal brecciation and surface geochemical anomalies, supporting the presence of alteration and potential fluid pathways. These geophysical features are considered preliminary and require further validation.
Exploration Upside and Next Steps
The identification of a large-footprint, gold-bearing barite horizon provides a well-defined target for both continued surface work and drill testing. Planned activities include:
Additional mapping and systematic channel sampling where outcrop exposure permits
Refinement of priority drill targets
Design of a scout drilling program to test surface mineralization and potential subsurface sulphide mineralization at depth
About the El Tigre Project
The El Tigre Project comprises a 288-hectare concession in southern Ecuador, located within the Alamor-Lancones Basin - a region prospective for epithermal gold and VMS-style mineralization. The Alamor-Lancones Basin hosts other recognized projects including Sunstone Metals' Bramaderos Porphyry project and Tierras Coloradas' epithermal gold vein system.
About Salazar Resources Limited
Salazar Resources Limited (TSXV: SRL) (OTCQB: SRLZF) (FSE: CCG) is a Canadian junior exploration company focused on the discovery and development of mineral deposits in Ecuador. The Company's strategy combines in-house geological expertise with a disciplined, systematic approach to project generation and advancement. For further information, please contact Nick DeMare, Director, at ndemare@chasemgt.com or at 604-685-9316. Please also visit our website at https://salazarresources.com/.
Quality Assurance / Quality Control (QA/QC)
All samples were analyzed by Inspectorate Services Perú S.A.C. (Bureau Veritas), a laboratory certified to ISO 17025:1999 and ISO 9001:2000 standards. The laboratory maintains an internal QA/QC program incorporating blanks, standards, and duplicate reanalysis of selected samples. Gold was analyzed by fire assay - atomic absorption spectroscopy (FA-AAS). Silver, copper, zinc, and other elements were analyzed by aqua regia extraction with an Inductively Coupled Plasma - Mass Spectrometry (ICP-MS) finish.
The Company implemented a QA/QC program incorporating systematic insertion of certified reference materials (standards), blanks, and field duplicates, along with a documented chain of custody, to ensure the integrity and reliability of analytical results.
Qualified Person
Mr. Kieran Dowes, the Company's Qualified Person ("QP") as defined by National Instrument 43-101 – Standards of Disclosure for Mineral Projects, has reviewed and approved the technical content of this news release. In accordance with TSX Rules and Policies, Part 1, Section 1.5, the Company further clarifies that Mr. Dowes is independent of the Company (as defined under NI 43-101).
References
¹ Romero Cóndor, C.W. et al., 2023. "El origen del intrusivo Potrerillos (Macará, Ecuador)". Acta Geológica Lilloana 34(1).
² Winter, L.S., Tosdal, R.M., Franklin, J.M., Tegart, P., 2005. A reconstructed cretaceous depositional setting for giant volcanogenic massive sulfide deposits at Tambogrande, northwestern Peru. In: Johnson, L.E., McClay, K.R. (Eds.), Andean Metallogeny, Society of Economic Geologists Special Publication.
³ Winter, L. S. (2008). The genesis of 'giant' copper-zinc-gold-silver volcanogenic massive sulphide deposits at Tambogrande, Perú : age, tectonic setting, paleomorphology, lithogeochemistry, and radiogenic isotopes (T). University of British Columbia. Retrieved from https://open.library.ubc.ca/collections/ubctheses/24/items/1.0052903
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Source: Salazar Resources Limited