Salazar Completes Royalty Sale

VANCOUVER, BRITISH COLUMBIA--(Marketwired - April 21, 2017) - Salazar Resources Limited (TSX VENTURE:SRL)(FRANKFURT:CCG) ("Salazar" or the "Company") - Mr. Fredy Salazar is pleased to report that the Company has completed the royalty sale announced on April 6, 2016. The Company initially sold to RCF VI SRL LLC ("RCF") a 1% net smelter returns royalty ("NSR") in the Curipamba project and received US$2,375,000. The Company has now completed the sale to RCF of an additional 1% NSR (the "Additional Royalty Sale") for an additional US$2,375,000.

Said Mr. Fredy Salazar, "We are extremely pleased to have closed on the royalty sale and we look forward to continuing with our approved work programs."

ON BEHALF OF THE BOARD OF SALAZAR RESOURCES LIMITED

Fredy Salazar,
President & CEO

Salazar Resources Limited

Salazar Resources Ltd. is a publicly-listed (TSX VENTURE:SRL) mineral resource company engaged in the exploration and development of new highly prospective areas in Ecuador. Led by a senior Ecuadorian management team and most notably by its namesake Fredy Salazar, this team has been instrumental in other major discoveries throughout Ecuador, including Aurelian's Fruta Del Norte discovery, IAMGold's Quimsacocha Deposit, Mozo Deposit, Ex Newmont's Cangrejos Project and International Minerals Rio Blanco and Gaby Deposit. Being an Ecuadorian based company gives the Company a strategic advantage enabling the Company to complete exploration at a rapid pace. With an excellent property portfolio (4 projects - 36,269 hectares), good geopolitical positioning and a number of strategic corporate and financial partnerships, Salazar has positioned itself to be a strategic player in Ecuador.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

This press release contains "forward -looking information" within the meaning of applicable Canadian securities laws. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. Forward-looking information herein includes, but is not limited to, statements that address activities, events or developments that the Company expects or anticipates will or may occur in the future, including such things as the execution of the Phase V drilling program. Such forward-looking information is based on a number of material factors and assumptions. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Company's disclosure documents on the SEDAR website at www.sedar.com. Accordingly, readers should not place undue reliance on forward -looking information. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.