Salazar intersects 5.3 m at 32 g/t gold, 321 g/t silver, 1.0 % Copper, 5.0% lead and 10.0 % zinc VANCOUVER, BRITISH COLUMBIA, November 2, 2010 - Salazar Resources Ltd.

(TSX.V:SRL; FSE:CCG) - Mr.

Fredy Salazar, President and CEO, is pleased to announce that the latest assay results from two diamond drill holes at El Domo in the Las Naves Central area of its Curipamba Volcanic Hosted Massive Sulphide Project in Ecuador have expanded the southern mineralization boundary of the deposit by approximately 100 m.

“The El Domo deposit has now reached a continuous strike length of approximately 650 m and is still open to the south east towards another high priority drilling target”, says Fredy Salazar, President and CEO.

“In addition to the continued expansion of the deposit to the south east, we are particularly excited by the presence of the outstanding precious metals values in DDH 69 that averaged 32 g/t gold and 321 g/t silver over more than 5 meters.

It is also noteworthy that similar values have been reported in surface grab samples taken approximately 250 meters to the north west of El Domo.

We will continue our program to delineate the deposit in all directions and will shortly start to drill test adjacent targets around the flanks of the El Domo intrusive”. Diamond drill holes (DDH) Curi-10-69 and Curi-10-70 are located in the south eastern portion of the deposit (see Figure 1) and the most significant results were as follow: • Curi-10-69 intersected 5.34 meters of high grade mineralization averaging 31.87 g/t gold, 321.05 g/t silver, 1.01 % copper, 5.02 % lead and 10.03 % zinc • Curie 10-70 intersected 8.36 meters at 0.44 g/t gold and 2.28% zinc within a mineralized zone approximately 38 meters thick Curi-10-69 ( a re-drill of Curi-10-55 that was abandoned short of its target depth) was drilled at 90 degrees strike on section 5100 N with -60 degree dip and a length of 143.70 m.

Curi-10-70 was drilled 270 degrees strike on section 4900 N with -85 degree dip and a length of 221.80 m.

The following table provides a summary of the significant intersections of each drill hole: http://www.irw-press.com/dokumente/SRL_Table_021110.pdf *widths reported are not true width Figure 1: http://www.irw-press.com/dokumente/SRL_Figure_021110.pdf The October drilling program has focussed on the extension of the El Domo mineralization to the north and south.

While this work will continue into November, several drill holes are planned to test the first two of several high priority anomalous areas located adjacent to the El Domo deposit.

The first is located 200 m to the north-east of the known El Domo deposit, and the second approximately 350 meters to the south-east of El Domo.

Both these areas have similar geophysical characteristics of chargeability and resistivity as the main El Domo deposit and also appear to be in the same stratigraphic horizon.

Additionally, geochemical analyses of soil samples in both areas have shown unusually high values of indicator elements that often provide a primary halo affect in the close proximity of significant ore deposits. The above information has been prepared under the supervision of Tom Healy P.Eng.

who is designated as a Qualified Person as defined by NI-43-101 with the ability and authority to verify the authenticity and validity of the data. A QC program was used whereby 5% of all samples sent to the laboratory were standard samples with known silver and gold values.

Sample preparation was performed by BSI Inspectorate Quito, Ecuador, using standard industry practices (sample prep minus 32).

Analytical work was carried out at the BSI Inspectorate Laboratory in Lima, Peru, using fire assay methods for gold (Au-25 procedure).

Standard samples, blanks and duplicate check samples were randomly inserted to the sample batch to ensure quality control.

ON BEHALF OF THE BOARD OF SALAZAR RESOURCES LIMITED “Fredy Salazar” Fredy Salazar, President & CEO Salazar Resources Limited Salazar Resources Ltd.

is a publicly-listed (TSX.V:SRL; FSE: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 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 (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. For further information, please contact: First Canadian Capital 1.866.580.8891 Email: www.salazarresources.com Neither 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 release. Statements contained in this news release that are not historical facts are forward-looking statements, which are subject to a number of known and unknown risks, uncertainness and other factors that may cause the actual results to differ materially from those anticipated in the forward looking statements.

Although we believe that the expectations in the forward-looking statements are reasonable, actual results may vary, and future results, levels of activity, performance or achievements cannot be guaranteed.
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