Salazar Announces Initial Closing of Private Placement

Salazar Resources Ltd. (TSX VENTURE:SRL)(FRANKFURT:CCG) (the "Company") Further
to the Company's news release dated May 13, 2013, the Company is pleased to
announce that is has completed a first closing of its private placement (the
"Private Placement") and issued 4,545,455 units of the Company ("Units") to
Urion Mining International BV, a wholly-owned subsidiary of Trafigura Beheer
B.V. (together referred to as "Urion"), a privately held international commodity
trading and logistics company, at a price of $0.22 per Unit to raise total gross
proceeds of $1,000,000.10. Each Unit consists of one common share of the Company
("Common Share") and one-half of a share purchase warrant ("Warrant"). Each full
Warrant entitles the holder to purchase an additional Common Share of the
Company for a period of 18 months at a price of $0.35 per Common Share. 


The gross proceeds received from the Private Placement are to be used to fund
completion of a Preliminary Economic Assessment (the "PEA") on the El Domo
property at the Curipamba Project, fund payment of tenure costs and also pay for
agreed upon operational costs in respect of the Curipamba Project. 


Under the an investment and participation agreement with Urion (the
"Agreement"), on receipt of the PEA, which the Company anticipates receiving in
approximately eight months, Urion may elect to provide additional financing to
bring El Domo into production through an investment in the Company or in its
wholly-owned Ecuadorian subsidiary, Minera Curimining S.A. ("Curimining"),
subject to Urion acquiring a maximum 35% equity interest in either the Company
or Curimining. If Urion elects to provide such financing, it would be obliged to
provide financing for up to 50% of the total project costs to bring El Domo into
production. Urion would also assist the Company in raising the balance of the
funding required to bring El Domo into production. The Agreement also grants
Urion off-take rights to purchase all production from future operations.


As a result of the first closing of the Private Placement, Urion now owns and
controls an aggregate of 7,045,455 Common Shares, or 13.15% of the issued and
outstanding Common Shares. Urion previously held 1,250,000 Common Share purchase
warrants of the Company. Assuming the exercise of all outstanding warrants held
by Urion, Urion would hold an aggregate of 10,568,183 Common Shares or 18.51% of
the issued and outstanding Common Shares.


Urion acquired the additional Common Shares and Warrants for investment
purposes. They may in the future take such actions in respect of their
shareholdings in the Company as they may deem appropriate in light of the
circumstances then existing, including the purchase of additional Common Shares
or other securities in the capital of the Company through open-market purchases
or privately negotiated transactions, or the sale of all or a portion of their
holdings in the open market or in privately negotiated transactions to one or
more purchasers, in each case in accordance with applicable securities laws. 


Urion has filed an Early Warning Report with the applicable securities
regulators in connection with this increase in ownership of Common Shares, and a
copy of such report is available at www.sedar.com.


ON BEHALF OF THE BOARD OF SALAZAR RESOURCES LIMITED 

Fredy Salazar, President & CEO

Salazar Resources Limited 

About Salazar Resources Limited

Salazar Resources Ltd. is a publicly-listed (TSX VENTURE:SRL)(FRANKFURT:CCG)
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.Being based in Ecuador, thus have
thorough knowledge of local human and environmental issues, gives the company a
strategic advantage, enabling it to complete exploration at a rapid pace. With
an excellent property portfolio (3 projects- 42,900 hectares), good geopolitical
positioning and a number of strategic corporate and financial partnerships,
Salazar has positioned itself to be a strategic player in Ecuador and throughout
South America.


About Trafigura Beheer B.V.

Trafigura is one of the world's leading international commodity traders,
specializing in the oil, minerals and metals markets, with 81 offices in 56
countries in Europe, Africa, Asia, Australia, and North, Central and South
America. The Group's primary trading businesses are the supply and transport of
crude oil, petroleum products, renewable energies, coal, refined metals, ferrous
and non-ferrous ores and concentrates. Trafigura is the world's second largest
independent non-ferrous trading company and the third largest independent oil
trader.


Founded in 1993, the company is owned by its founding shareholders and senior
management. It has achieved substantial growth in recent years, growing turnover
from USD18 billion in 2004 to USD120.4 billion in 2012. 


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 successful completion
of the PEA and the timing of completion of the PEA. Such forward-looking
information is based on a number of material factors and assumptions, including
that contracted parties provide services on the agreed timeframes and that
laboratory and other related services are available and perform as contracted.
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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Salazar Resources Ltd.
Investor Relations
647-925-8981
[e-mail]
www.salazarresources.com


Trafigura's Global Press Office:
[phone]
[e-mail]
www.trafigura.com