Salazar Resources Consolidates Ecuador Copper-Gold Portfolio While Maintaining 25% Carried Interest in the El Domo Mine

Core Viewpoint - Salazar Resources Limited has successfully closed the acquisition of Ecuadorian exploration assets from Silvercorp Metals Inc., significantly enhancing its copper-gold exploration portfolio in Ecuador [1][5]. Acquisition Details - Salazar acquired two subsidiaries from Silvercorp, which hold interests in the Santiago, Pijilí, and Tarqui-Quimi projects, in exchange for a 1.5% net smelter return royalty [2][10]. - This acquisition increases Salazar's ownership in the Santiago and Pijilí projects from 20% to 100% and includes the Tarqui and Quimi concessions [10]. Strategic Positioning - The acquisition provides Salazar with full strategic control over a growing portfolio of copper-gold exploration assets in a highly prospective metallogenic belt in South America [2][5]. - Salazar retains a 25% carried interest in the El Domo copper-gold project, which is under construction and expected to be Ecuador's next producing mine [3][10]. Exploration Focus - The company is now focused on advancing priority exploration targets toward drilling in 2026, with several projects moving toward drill-ready status [3][10]. - The Santiago Project is highlighted as the flagship asset, featuring a large copper-gold porphyry target [7][10]. Market Context - Ecuador is emerging as a significant mining jurisdiction, with Salazar's portfolio providing leverage to both copper and precious metals amid growing global demand [5][15]. - The mining sector is increasingly contributing to Ecuador's economic growth, export revenues, and government tax receipts [15]. Future Plans - Salazar intends to advance the Santiago and Tarqui-Quimi projects toward drilling implementation and support the construction of the El Domo Project [10][21].