Salazar Resources Limited announced it has significantly increased its total claim holdings in the Cerro Pelado gold district to 2,444 hectares ("ha"), having entered into a binding Letter of Intent (the "LOI") with Minera Mesaloma S.A. (the "Vendor" or "Minera Mesaloma") and been granted the option to acquire up to 100% of the Los Santos gold project (comprised of the Los Santos 2.1 concession) ("Los Santos" or the "Project") near Salazar Resources' Osos project, El Oro, Ecuador, subject to receipt of approval of the TSX Venture Exchange (the "TSXV"). The Company believes that Los Santos and Osos provide Salazar Resources with all the necessary land that would be required to facilitate the development of a deposit. Los Santos lies in southwest Ecuador between the towns of Pasaje and Paccha in a district with a well-established tradition of gold panning and artisanal gold mining. The northwest portion of the concession area is less than 2 km from the centre of the Cangrejos main mineral resource, held by Lumina Gold. The project area is accessed via gravel roads, with elevations between 360 m and 1766 m, and there is a prominent north-south-trending ridge extending through the centre of the concession. The Los Santos concession was originally held by a private company, Ecuanor, in the early 1990s before being transferred to Minera Mesaloma in 2005. The area has been subject to surface exploration (geological mapping, soils and stream sediment geochemistry sampling and analyses, and regional magnetic and VLF electromagnetic surveys), principally on the east side of the property. Historic exploration data generated by Newmont Corporation and Compania Minera Silex Ecuador S.A. have been integrated into the database.