SALAZAR RESOURCES LTD ORD - SRLZF STOCK NEWS

Silvercorp Metals and Salazar Resources have announced that the El Domo-Curipamba Project in Ecuador has received the Resolution of Change of Phase from the Ministry of Energy and Mines. This approval advances the project from the Economic Evaluation Phase to the Exploitation Phase, allowing for the start of construction and subsequent mine operation. This resolution is equivalent to the Exploitation Agreement for large-scale mines in Ecuador.

Dr. Rui Feng, Chairman and CEO of Silvercorp, stated that this is the final major approval required for full stage construction to begin. Fredy E. Salazar, President and CEO of Salazar, expressed gratitude to the team for achieving this milestone and anticipates El Domo becoming the next major industrial mine in Ecuador.

Salazar Resources (TSXV: SRL) (OTCQB: SRLZF) has announced a new partnership with Silvercorp Metals Inc. at the Curipamba project, following Silvercorp's acquisition of Adventus Mining. This collaboration aims to enhance exploration, development, and operational efficiencies in Ecuador's mining sector, particularly focusing on the El Domo deposit and other joint venture properties.

The partnership is expected to leverage Salazar's innovative approach and Silvercorp's extensive experience to create significant value for shareholders. Both companies' CEOs expressed enthusiasm about the collaboration, highlighting the potential for expanded opportunities and synergies across various projects. The partnership will emphasize optimizing resource development, enhancing operational efficiency, and maintaining high standards of environmental stewardship.

Salazar Resources (TSXV: SRL, OTCQB: SRLZF, FSE: CCG) has announced a change in its Board of Directors. Ms. Jennifer Wu has rejoined the company's board, replacing Ms. Mary Gilzean who has resigned. Ms. Wu brings 25 years of experience in the financial industry, most recently as an executive at Citigroup focusing on Enterprise Risk Management and global climate risk management. She previously specialized in metals & mining strategic investments by Chinese entities at Scarsdale Equities. Ms. Wu holds an MBA from Wake Forest University and the CFA and SCR designations. The Board has expressed gratitude to Ms. Gilzean for her contributions during her tenure.

Salazar Resources (TSXV: SRL) (OTCQB: SRLZF) has announced a favorable court ruling regarding the environmental license for the El Domo - Curipamba Project in Ecuador. The constitutional protective action filed against the Ministry of Environment, Water, and Ecological Transition of Ecuador (MATTE) on June 5, 2024, was rejected by the Court on July 24, 2024.

The Court concluded that the consultative process followed by MATTE in issuing the permits complied with legal requirements. Although the plaintiffs intend to appeal, construction on the project can continue as no precautionary measures were sought or granted. Salazar Resources owns 25% of the project, while Adventus Mining owns 75% and is the operator.

Salazar Resources has granted stock options to its directors and officers. These options allow the purchase of up to 4,950,000 common shares at a price of $0.105 per share. The stock options have a five-year term. This move aims to incentivize the company's leadership and align their interests with shareholders.

Silvercorp Metals Inc. proposes to acquire Adventus Mining , a move welcomed by Salazar Resources The acquisition is expected to enhance construction and operations at El Domo - Curipamba project in Ecuador. The transaction values Adventus at C$200 million, providing financial resources for exploration programs and commitment to ESG practices. Salazar expresses optimism towards Silvercorp's involvement and the potential benefits to stakeholders.