Salazar Resources Financial Year-End Change to March 31
Vancouver, November 8, 2024 - Salazar Resources Ltd. (TSXV: SRL) (OTCQX: SRLZF) (FSE: CCG) ("Salazar" or the "Company") is pleased to announce it is changing its year-end to March 31 from December 31. The notice for the year-end change required under National Instrument 51-102 has been filed under the Company's profile at www.sedarplus.ca.
The Board of Directors of the Company has determined that a March 31 financial year-end is preferable to a December 31 financial year-end as this change in year-end will synchronize the Company's financial reporting with that of the Company's new strategic partner at the Curipamba project, Silvercorp Metals Inc. ("Silvercorp"), through Silvercorp's wholly-owned subsidiary, Adventus Mining Corp. ("Adventus"). Adventus earned a 75% ownership interest in the Curipamba project, with the Company retaining a 25% ownership interest thereto. The Company and Adventus are also parties to an exploration alliance agreement to jointly explore Ecuador through Minera Dos Gemas M2G S.A., a company currently 80%-owned by Adventus and 20%-owned by the Company.
As a result, the Company will report, on or before July 29, 2025, audited financial results for a transitional financial period for the fifteen months ended March 31, 2025 with comparative financial statements as at and for the year ended December 31, 2023. Thereafter, the Company will revert to a quarterly reporting calendar based on a March 31 financial year-end, with reporting periods ending on the last day of June, September, December and March each year.
The ensuing transitional quarter would be the nine months ended September 30, 2024, which the Company expects to report on or before November 29, 2024.
About Salazar Resources
Salazar Resources Limited is focused on creating value and positive change through discovery, exploration, and development in Ecuador. The team has an unrivalled understanding of the geology in-country and has played an integral role in the discovery of many of the major projects in Ecuador, including the two newest operating gold and copper mines.
Salazar Resources has a wholly owned pipeline of copper-gold exploration projects across Ecuador with a strategy to make another commercial discovery and farm-out non-core assets. The Company actively engages with Ecuadorian communities and together with the Salazar family it co-founded The Salazar Foundation, an independent non-profit organization dedicated to sustainable progress through economic development. The Company already has carried interests in three projects. At its maiden discovery, Curipamba, Salazar Resources has a 25% stake fully carried through to production. At two copper-gold porphyry projects, Pijili and Santiago, the Company has a 20% stake fully carried through to a construction decision.
For further information from Salazar Resources, please contact Nick DeMare, Director, at ndemare@chasemgt.com or at 604-685-9316. Please also visit the Salazar Resources website at www.salazarresources.com.
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