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    SRL   CA7940071045

SALAZAR RESOURCES LIMITED

(SRL)
Delayed Bourse de Toronto  -  12:36 2022-09-30 pm EDT
0.1300 CAD   +13.04%
09/12Adventus Mining, Salazar Resources Offer Development Update for Curipamba-El Domo Copper-Gold Project in Ecuador
MT
09/12Adventus Mining and Salazar Resources Brief: Providing a Development Update for the Curipamba-El Domo Copper-Gold Project
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09/12Adventus Mining and Salazar Provide a Development Update for the Curipamba-El Domo Copper-Gold Project
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Salazar Resources : Financing Agreements finalized with Trafigura to Secure up to US$55 million for development of El Domo - Curipamba Copper-Gold Project

08/05/2022 | 06:14pm EDT
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August 5, 2022
Financing Agreements finalized with Trafigura to Secure up to US$55 million for development of El Domo - Curipamba Copper-Gold Project

VANCOUVER, BRITISH COLUMBIA, August 5th 2022 -- SALAZAR RESOURCES LIMITED (TSXV: SRL; OTC QX: SRLZF; Frankfurt: CCG.F) ("Salazar" or the "Company") is pleased to announce that Adventus Mining Corporation ("Adventus ) (TSX-V: ADZN, OTCQX: ADVZF) has entered into definitive agreements that constitute the Offtake Financing Agreement (the "OFA") with Trafigura Pte Ltd ("Trafigura") which secures up to US$55 million towards the advancement of the El Domo-Curipamba copper-gold project (the "El Domo Project"). This follows the binding commitment previously announced on January 17, 2022, together with the financial commitment by Wheaton Precious Metals Corp ("Wheaton").

With OFA completion, the joint venture has secured up to US$235.5 million for the advancement and future construction of the El Domo Project. Pursuant to the OFA, Trafigura will provide Adventus Mining with a senior debt facility (the "Facility") of US$45 million, US$5 million of which can be paid on an early deposit basis to be used for pre-construction activities at the El Domo Project. The remainder of the cash consideration is payable in two (2) staged installments during future construction of the El Domo Project, subject to certain customary conditions precedent being satisfied.

About Salazar Resources

Salazar Resources 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 organisation dedicated to sustainable progress through economic development.

For further information about Salazar Resources, please contact Merlin Marr-Johnson, Executive Vice President and Corporate Secretary, at merlin@salazarresources.com or ir@salazarresources.com or at +1 604 685 9316.

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.

Disclaimer

Salazar Resources Limited published this content on 05 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 August 2022 22:13:02 UTC.


© Publicnow 2022
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Financials
Sales 2021 - - -
Net income 2021 2,73 M 1,99 M 1,99 M
Net cash 2021 3,72 M 2,71 M 2,71 M
P/E ratio 2021 15,8x
Yield 2021 -
Capitalization 19,9 M 14,5 M 14,5 M
EV / Sales 2020 -
EV / Sales 2021 -
Nbr of Employees -
Free-Float 78,6%
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Managers and Directors
Fredy Enrique Salazar President, Chief Executive Officer & Director
Pablo Acosta Chief Financial Officer & Director
Nick DeMare Independent Director
Etienne E. V. Walter Independent Director
Mary Gilzean Independent Non-Executive Director
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