Vancouver, British Columbia--(Newsfile Corp. - November 12, 2026) - SALAZAR RESOURCES LIMITED (TSXV: SRL) (OTCQB: SRLZF) (FSE: CCG) ("Salazar" or the "Company") is pleased to report the results of the detailed soil geochemical sampling program, covering 482 of the 752 planned sampling points (64%) completed during the Company's summer work program, at its 100%-owned Monja Project in Loja Province, southern Ecuador. The program has defined a coherent 1.9 km by 0.9 km copper-in-soil anomaly, open to the northwest and southeast, over the porphyry target announced in the Company's news release dated April 8, 2026, and further defined in its news release dated June 30, 2026. The results give the Company a defined area within which to select targets for the drilling planned at Monja from the first quarter of 2027, subject to surface access and permits.
Highlights
Kilometre-scale copper-in-soil anomaly, still open: Soil sampling has delineated a consistent copper anomaly measuring 1.9 km by 0.9 km at a 200 ppm Cu threshold, open to the northwest and southeast, where the grid is being extended. New grid samples returned up to 1,884 ppm Cu (sample 250245); the highest soil value to date, 2,242 ppm Cu, is from the initial 23-sample soil survey reported on June 30, 2026.
New rock samples up to 2.76% Cu: Newly reported selective rock samples returned up to 2.76% Cu, 0.71 g/t Au, 28.8 g/t Ag and 9 ppm Mo (sample 51760); 2.63% Cu, 0.61 g/t Au, 29.2 g/t Ag and 4 ppm Mo (sample 700235); and 2.41% Cu, 0.68 g/t Au, 24.3 g/t Ag and 3 ppm Mo (sample 700444).
Copper in rock over a 0.8 km by 0.7 km area: Of the 429 rock samples collected at Monja to date, including those previously reported, 157 returned more than 300 ppm Cu and 46 exceeded 1,000 ppm (0.1%) Cu, compared with 64 and 20, respectively, of the 99 samples reported on June 30, 2026. These results define a 0.8 km by 0.7 km copper anomaly in rock, located within the broader soil anomaly.
Gold with copper: 46 rock samples (11%) returned more than 0.25 g/t Au, and all nine samples above 1% Cu also returned between 0.42 and 1.15 g/t Au. Molybdenum is locally anomalous: 61 rock samples (14%) returned more than 20 ppm Mo, including 881 ppm Mo (sample 700304).
Porphyry geology and zoning: Mineralization is hosted in an intrusive complex of granodiorite, quartz-feldspar porphyry and hydrothermal breccias, with chalcopyrite and lesser bornite as the copper minerals and alteration zoning typical of porphyry copper-gold systems.
Drilling planned: Up to approximately 3,500 metres is planned from the first quarter of 2027, subject to surface access and permits, as announced on October 19, 2026. It will be the first drill test of the porphyry target.
Management Commentary
"In five months, the soil grid has taken Monja from a handful of encouraging surface samples to a coherent, kilometre-scale copper anomaly with the copper, zinc and manganese zonation we'd expect around a porphyry center. And it's still open to the northwest and southeast. This is the same systematic, ground-up work that led our team to the Curipamba-El Domo discovery, now under construction. Our focus is on closing out the grid and selecting targets for the first holes ever drilled at Monja, planned for 2027." - Fredy Salazar, President and CEO
Soil Sampling Program - Results
The Monja soil survey uses a 100 m by 100 m sampling grid, oriented in a northwest-southeast direction, centered on the copper-gold porphyry target. Samples were collected at depths ranging from approximately 0.2 m to 2.5 m, and locally deeper (up to 4.66 m among the samples in Table 2), focusing on soils in the B horizon, which are characterized by their ability to accumulate trace metals and indicator elements. In areas where the soil layer is thin, samples were taken from the B-C transition horizons and saprolite, providing values that more accurately reflect the geochemistry of the bedrock in situ.
The sampling grid is designed to include a total of 752 sampling points, and on completion of the 2026 summer work program, 482 had been collected (including the 23 samples reported on June 30, 2026), representing 64% progress on the program. The Company is continuing the sampling program and will report further results in the future.
Copper results range from 3 ppm to 2,242 ppm, with 92 samples (19%) at or above 200 ppm, defining a consistent anomaly 1.9 km long by 0.9 km wide. Gold values range from 0.005 to 9.653 g/t, with 11% of the values more than 0.03 g/t. The highest gold-in-soil values are from the southeastern part of the grid, near an area of artisanal mining approximately 1 km from the center of the porphyry target, consistent with the epithermal veins with historical small-scale gold extraction described in the Company's news release dated April 8, 2026.
Table 1. Distribution of Cu, Au, Mo and Ag values in reported Monja soil samples
| Cu (ppm) | Percentage |
| Au (g/t) | Percentage |
| <50 | 140 | 29% |
| < 0.015 | 399 | 83% |
| 50 - 100 | 133 | 28% |
| 0.015 - 0.030 | 28 | 6% |
| 100 - 200 | 117 | 24% |
| 0.030 - 0.10 | 36 | 7% |
| 200 - 500 | 66 | 14% |
| 0.10 - 0.30 | 11 | 2% |
| >500 | 26 | 5% |
| > 0.30 | 8 | 2% |
| TOTAL: | 482 | 100% |
| TOTAL: | 482 | 100% |
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| Mo (ppm) | Percentage |
| Ag (ppm) | Percentage |
| < 6 | 468 | 97.1% |
| <0.2 | 415 | 86.1% |
| 6 -10 | 9 | 1.9% |
| 0.2 -1 | 64 | 13.3% |
| 10 - 20 | 4 | 0.8% |
| 1 - 3 | 1 | 0.2% |
| > 20 | 1 | 0.2% |
| 3 - 5 | 1 | 0.2% |
| TOTAL: | 482 | 100% |
| > 5 | 1 | 0.2% |
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| TOTAL: | 482 | 100% |
Copper exhibits a distinct and well-defined dispersion pattern, with a maximum of 2,242 ppm Cu and an anomaly threshold of 200 ppm Cu (approximately the 81st percentile of the data), a working threshold selected by Salazar, based on the experience of its geologists, to separate anomalous copper values clearly from background. Copper, zinc, and manganese exhibit well-established distributions typical of a porphyry system, with a central copper dispersion surrounded by halos of zinc and manganese. Molybdenum in soil is low, with 97% of samples below 6 ppm Mo and a maximum of 133 ppm Mo (sample 53506, reported on June 30, 2026). The anomaly remains open to the northwest and southeast.
Table 2. Soil samples with 200 ppm Cu or more
| Sample | Depth (m) | Au (g/t) | Cu (ppm) | Ag (ppm) | Mo (ppm) |
| Sample | Depth (m) | Au (g/t) | Cu (ppm) | Ag (ppm) | Mo (ppm) |
| 53502* | 0.60 | 0.035 | 2242 | 0.5 | 4 |
| 250215 | 2.30 | 0.012 | 328 | 0.1 | 1 |
| 250245 | 1.30 | 0.259 | 1884 | 74 | 9 |
| 250168 | 1.00 | 0.012 | 317 | 0.1 | 1 |
| 53524* | 0.85 | 0.018 | 1720 | 0.4 | 16 |
| 250381 | 4.66 | 0.012 | 312 | 0.1 | 1 |
| 53505* | 0.80 | 0.016 | 1599 | 0.5 | 5 |
| 250461 | 0.50 | 0.066 | 312 | 0.1 | 1 |
| 250113 | 0.50 | 0.061 | 1480 | 0.6 | 1 |
| 250565 | 1.50 | 0.012 | 303 | 0.3 | 1 |
| 250232 | 1.00 | 0.030 | 1369 | 0.3 | 1 |
| 250238 | 1.50 | 0.012 | 295 | 0.1 | 1 |
| 250283 | 0.40 | 0.012 | 1096 | 0.3 | 2 |
| 250528 | 1.00 | 0.012 | 291 | 0.2 | 1 |
| 250201 | 1.00 | 0.090 | 1074 | 0.1 | 1 |
| 250127 | 1.70 | 0.012 | 288 | 0.1 | 1 |
| 250344 | 1.05 | 0.012 | 1050 | 0.1 | 1 |
| 250337 | 1.50 | 0.012 | 286 | 0.1 | 1 |
| 53525* | 1.20 | 0.028 | 996 | 0.3 | 3 |
| 250135 | 1.60 | 0.012 | 275 | 0.1 | 1 |
| 250221 | 2.80 | 0.012 | 961 | 0.4 | 4 |
| 250312 | 2.00 | 0.157 | 275 | 0.1 | 1 |
| 250165 | 1.38 | 0.044 | 892 | 0.1 | 6 |
| 250543 | 1.90 | 0.012 | 275 | 0.1 | 1 |
| 250164 | 1.55 | 0.012 | 781 | 0.1 | 2 |
| 250117 | 1.10 | 0.024 | 274 | 0.1 | 1 |
| 250185 | 0.80 | 0.025 | 755 | 0.1 | 1 |
| 250418 | 1.90 | 0.012 | 267 | 0.1 | 1 |
| 250273 | 2.10 | 0.012 | 749 | 0.1 | 1 |
| 250241 | 2.00 | 0.012 | 265 | 0.1 | 1 |
| 250172 | 2.00 | 0.012 | 683 | 0.1 | 1 |
| 250096 | 2.50 | 0.031 | 264 | 0.2 | 1 |
| 250504 | 1.50 | 0.012 | 682 | 0.2 | 1 |
| 53514* | 1.10 | 0.018 | 255 | 0.2 | 7 |
| 250102 | 1.15 | 7.495 | 659 | 3.4 | 1 |
| 250531 | 1.80 | 0.012 | 255 | 0.1 | 1 |
| 250231 | 1.20 | 0.012 | 582 | 0.1 | 1 |
| 250309 | 1.05 | 0.012 | 253 | 0.1 | 1 |
| 53506* | 0.90 | 0.102 | 573 | 1.8 | 133 |
| 250254 | 1.00 | 0.089 | 251 | 0.1 | 1 |
| 53504* | 1.00 | 0.005 | 572 | 0.1 | 2 |
| 250325 | 0.60 | 0.012 | 247 | 0.1 | 1 |
| 250419 | 1.80 | 0.012 | 570 | 0.1 | 1 |
| 250469 | 0.70 | 0.012 | 247 | 0.1 | 1 |
| 250192 | 0.80 | 0.012 | 564 | 0.4 | 6 |
| 53519* | 1.80 | 0.020 | 246 | 0.3 | 2 |
| 250187 | 1.80 | 0.012 | 556 | 0.1 | 1 |
| 250372 | 1.90 | 0.012 | 246 | 0.1 | 1 |
| 53503* | 1.50 | 0.033 | 543 | 0.6 | 12 |
| 53501* | 1.20 | 0.026 | 244 | 0.4 | 9 |
| 250184 | 0.80 | 0.012 | 509 | 0.1 | 1 |
| 250133 | 1.80 | 0.012 | 243 | 0.1 | 1 |
| 250163 | 1.20 | 0.012 | 494 | 0.1 | 1 |
| 250190 | 1.50 | 0.012 | 239 | 0.1 | 1 |
| 250343 | 1.20 | 0.012 | 493 | 0.1 | 1 |
| 250412 | 1.70 | 0.012 | 238 | 0.1 | 1 |
| 250193 | 0.60 | 0.012 | 463 | 0.5 | 15 |
| 250166 | 0.80 | 0.012 | 236 | 0.1 | 1 |
| 250347 | 1.80 | 0.012 | 462 | 0.1 | 1 |
| 250167 | 1.15 | 0.048 | 236 | 0.1 | 1 |
| 250134 | 2.00 | 0.012 | 459 | 0.1 | 1 |
| 250545 | 2.00 | 0.012 | 236 | 0.1 | 1 |
| 250191 | 1.00 | 0.012 | 424 | 0.1 | 3 |
| 250556 | 1.50 | 0.012 | 235 | 0.1 | 1 |
| 250346 | 1.80 | 0.025 | 416 | 0.1 | 1 |
| 250496 | 1.80 | 0.652 | 233 | 0.2 | 1 |
| 250538 | 1.20 | 0.150 | 412 | 0.1 | 1 |
| 250562 | 0.80 | 0.239 | 232 | 0.3 | 1 |
| 250169 | 1.38 | 0.012 | 408 | 0.1 | 1 |
| 250252 | 1.30 | 0.025 | 228 | 0.1 | 1 |
| 53518* | 2.50 | 0.033 | 403 | 0.3 | 2 |
| 250257 | 0.40 | 0.012 | 219 | 0.1 | 1 |
| 53512* | 0.50 | 0.054 | 398 | 0.5 | 16 |
| 53511* | 1.00 | 0.007 | 218 | 0.3 | 2 |
| 250107 | 1.77 | 0.030 | 374 | 0.3 | 2 |
| 53509* | 1.95 | 0.020 | 217 | 0.3 | 6 |
| 250125 | 1.52 | 0.036 | 374 | 0.1 | 1 |
| 250333 | 3.50 | 0.012 | 217 | 0.4 | 1 |
| 250413 | 2.00 | 0.012 | 369 | 0.1 | 1 |
| 250421 | 1.70 | 0.012 | 216 | 0.1 | 1 |
| 250287 | 0.80 | 0.012 | 352 | 0.1 | 2 |
| 250274 | 1.50 | 0.012 | 214 | 0.1 | 1 |
| 250088 | 1.10 | 0.012 | 348 | 0.1 | 1 |
| 250104 | 1.25 | 0.012 | 213 | 0.1 | 1 |
| 250396 | 1.90 | 0.057 | 347 | 0.1 | 1 |
| 250158 | 0.70 | 0.054 | 203 | 0.3 | 1 |
| 250216 | 1.70 | 0.012 | 346 | 0.1 | 1 |
| 250330 | 2.00 | 0.012 | 200 | 0.1 | 1 |
| 250111 | 1.70 | 0.012 | 341 | 0.1 | 1 |
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| 250170 | 1.20 | 0.012 | 336 | 0.1 | 1 |
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| 250112 | 0.75 | 0.012 | 335 | 0.1 | 3 |
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| 250285 | 1.40 | 0.012 | 335 | 0.1 | 3 |
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* Sample reported in the Company's news release dated June 30, 2026
Figure 1. Copper-in-soil geochemistry at the Monja Project, showing the extent of the defined anomaly
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4631/323671_93d2fbc3d45b9a4b_002full.jpg
Rock Sampling Results
On completion of the 2026 summer work program, Salazar had collected a total of 429 rock samples at the Monja Project, mainly rock chip and channel samples, including the samples reported on April 8 and June 30, 2026. Of these, 321 samples are reported for the first time in this news release. The results show that 157 samples (37%) yielded copper values greater than 300 ppm, including 46 samples (11%) that exceeded 1,000 ppm of copper. The proportion above 300 ppm Cu is lower than the 64% reported on June 30, 2026, because the additional sampling extended coverage beyond the central zone sampled at that time; the number of samples above 1,000 ppm Cu has doubled, from 23 (20 reported on June 30, 2026 and three reported on April 8, 2026) to 46. Gold values in rock reach 7.75 g/t Au (sample 700319; Figure 3), and all nine samples above 1% Cu returned between 0.42 and 1.15 g/t Au. Rock samples are selective by nature and may not be representative of the mineralization on the property. Sample widths are not true widths.
Table 3. Distribution of Cu, Au, Mo and Ag values in reported Monja rock samples
| Cu (ppm) | Percentage |
| Au (g/t) | Percentage |
| <100 | 165 | 38% |
| < 0.010 | 92 | 21% |
| 100 - 300 | 107 | 25% |
| 0.010 - 0.05 | 238 | 55% |
| 300 - 500 | 51 | 12% |
| 0.05 - 0.10 | 29 | 7% |
| 500 - 1000 | 60 | 14% |
| 0.10 - 0.25 | 24 | 6% |
| >1000 | 46 | 11% |
| > 0.25 | 46 | 11% |
| TOTAL | 429 | 100% |
| TOTAL | 429 | 100% |
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| Mo (ppm) | Percentage |
| Ag (ppm) | Percentage |
| < 6 | 316 | 74% |
| <5 | 400 | 93% |
| 6 -10 | 27 | 6% |
| 5 -10 | 12 | 3% |
| 10 - 20 | 25 | 6% |
| 10 - 20 | 10 | 2% |
| > 20 | 61 | 14% |
| > 20 | 7 | 2% |
| TOTAL | 429 | 100% |
| TOTAL | 429 | 100% |
The mineralization is hosted within an intrusive complex of granodiorite, quartz-feldspar porphyry and hydrothermal breccias emplaced into the barren Early Cretaceous Tangula batholith. Mineralization consists of pyrite, chalcopyrite, bornite and magnetite, associated with silica mainly in B- and D-type veins that form intense stockworks and sheeted vein zones. The hydrothermal breccia is strongly silicified and hosts chalcopyrite in the matrix, accompanied by tourmaline and, to a lesser extent, bornite.
Exploration has identified alteration patterns typical of porphyry copper-gold environments. The system displays well-defined zoning, where outer propylitic (chlorite-rich) assemblages grade into phyllic (quartz-sericite) and argillic zones, supported by localized intervals of K-feldspar, magnetite, and green sericite. These mineral signatures are consistent with a zoned porphyry system that may represent the upper levels of a preserved system or a structurally telescoped one. Ongoing work and assay interpretations will help vector toward the core of the system.
Table 4. Rock samples with 500 ppm Cu or more
| Sample | Width (m) | Au (g/t) | Cu (ppm) | Ag (ppm) | Mo (ppm) |
| Sample | Width (m) | Au (g/t) | Cu (ppm) | Ag (ppm) | Mo (ppm) |
| 51584* | 0.8 | 1.118 | 47710 | 19.5 | 74 |
| 51769 | 3.0 | 0.113 | 898 | 2.0 | 40 |
| 51760 | 0.6 | 0.705 | 27620 | 28.8 | 9 |
| 200061** | 3.0 | 0.036 | 896 | 0.8 | 14 |
| 700235 | 0.6 | 0.610 | 26250 | 29.2 | 4 |
| 51918** | 3.0 | 0.003 | 859 | 0.1 | 3 |
| 700444 | 0.6 | 0.675 | 24080 | 24.3 | 3 |
| 51754** | 1.0 | 0.040 | 846 | 0.9 | 22 |
| 200101** | 3.5 | 0.989 | 17070 | 10.3 | 162 |
| 50985 | 0.5 | 3.422 | 834 | 3.2 | 1 |
| 700436 | 0.35 | 0.424 | 15630 | 23.4 | 5 |
| 700467 | 2.0 | 0.058 | 824 | 1.0 | 1 |
| 51744** | 3.0 | 0.608 | 12910 | 10.4 | 9 |
| 51593* | 1.0 | 0.025 | 803 | 0.8 | 144 |
| 700378 | 0.2 | 1.148 | 12600 | 5.7 | 1 |
| 200134** | 3.0 | 0.008 | 790 | 0.4 | 277 |
| 200079** | 4.0 | 0.613 | 10940 | 2.7 | 10 |
| 700164** | 3.0 | 0.051 | 781 | 0.1 | 7 |
| 700395 | 1.5 | 0.012 | 9196 | 8.9 | 1 |
| 200072** | 4.0 | 0.043 | 767 | 0.2 | 4 |
| 51748** | 5.0 | 0.644 | 6250 | 1.5 | 4 |
| 51768 | 1.5 | 0.173 | 766 | 1.5 | 9 |
| 50911 | 0.8 | 0.086 | 5855 | 3.2 | 3 |
| 51743* | 3.0 | 0.022 | 747 | 0.4 | 19 |
| 700154** | 3.0 | 0.252 | 5363 | 1.2 | 4 |
| 50955 | 4.0 | 4.460 | 738 | 1.6 | 1 |
| 700402 | 1.5 | 0.114 | 5182 | 11.2 | 1 |
| 200039 | 3.0 | 0.160 | 733 | 0.4 | 1 |
| 51879 | 4.0 | 0.035 | 3452 | 4.8 | 1 |
| 700410 | 0.4 | 0.085 | 730 | 0.6 | 1 |
| 700461 | 0.6 | 0.307 | 3374 | 13.6 | 7 |
| 200099** | 3.0 | 0.057 | 727 | 0.6 | 3 |
| 200272 | 3.5 | 0.048 | 3320 | 6.4 | 1 |
| 700306 | 2.0 | 0.012 | 724 | 0.1 | 448 |
| 700394 | 2.0 | 0.149 | 3268 | 101.6 | 1 |
| 700426 | 0.5 | 4.200 | 714 | 0.6 | 1 |
| 700319 | 0.4 | 7.748 | 2997 | 63.1 | 6 |
| 200074** | 5.0 | 0.065 | 698 | 0.4 | 72 |
| 700437 | 0.4 | 0.202 | 2841 | 8.3 | 1 |
| 51738 | 0.6 | 0.043 | 691 | 0.7 | 1 |
| 51583* | 1.0 | 0.209 | 2584 | 5.7 | 109 |
| 51591 | 3.0 | 0.014 | 672 | 0.6 | 4 |
| 200073** | 4.0 | 0.081 | 2354 | 0.9 | 28 |
| 51806 | 1.0 | 0.013 | 670 | 0.9 | 4 |
| 700222** | 4.0 | 0.061 | 2227 | 1.3 | 44 |
| 700288 | 3.0 | 0.012 | 665 | 0.1 | 6 |
| 700167** | 3.0 | 0.043 | 2094 | 0.9 | 112 |
| 200083** | 3.0 | 0.014 | 664 | 0.4 | 3 |
| 700364 | 1.5 | 0.086 | 2023 | 4.1 | 20 |
| 51747** | 6.0 | 0.020 | 658 | 0.5 | 6 |
| 700162** | 3.0 | 0.061 | 1959 | 0.4 | 130 |
| 700472 | 3.0 | 0.031 | 638 | 0.8 | 1 |
| 700229** | 2.5 | 0.012 | 1888 | 0.6 | 47 |
| 700303 | 2.0 | 0.012 | 625 | 0.1 | 81 |
| 700406 | 1.5 | 0.111 | 1888 | 1.0 | 1 |
| 200057** | 4.0 | 0.011 | 621 | 0.4 | 11 |
| 700156** | 3.0 | 0.064 | 1751 | 0.4 | 34 |
| 200069** | 3.0 | 0.010 | 617 | 0.2 | 4 |
| 54238** | 4.0 | 0.040 | 1741 | 1.4 | 109 |
| 700305 | 2.0 | 0.012 | 617 | 0.1 | 111 |
| 700155** | 3.0 | 0.143 | 1719 | 0.5 | 4 |
| 50141 | 0.1 | 0.337 | 607 | 6.5 | 1 |
| 51878 | 5.0 | 0.672 | 1595 | 40.8 | 1 |
| 200086** | 4.0 | 0.037 | 605 | 0.1 | 3 |
| 50113 | 0.3 | 2.006 | 1574 | 12.5 | 1 |
| 200130 | 2.5 | 0.054 | 590 | 1.0 | 1 |
| 700243 | 3.0 | 0.033 | 1565 | 1.4 | 215 |
| 51578 | 1.5 | 0.040 | 588 | 0.1 | 6 |
| 200237** | 2.5 | 0.024 | 1529 | 0.9 | 11 |
| 52049 | 4.0 | 0.024 | 583 | 1.1 | 1 |
| 700246** | 3.0 | 0.053 | 1441 | 0.4 | 3 |
| 200089** | 2.5 | 0.016 | 581 | 0.2 | 1 |
| 200332 | 1.0 | 0.751 | 1403 | 1.9 | 1 |
| 200062** | 4.5 | 0.013 | 571 | 0.4 | 4 |
| 700166** | 3.5 | 0.040 | 1317 | 0.5 | 18 |
| 700307 | 2.0 | 0.012 | 565 | 0.1 | 7 |
| 51587* | 1.0 | 0.138 | 1308 | 3.8 | 137 |
| 200067** | 2.5 | 0.005 | 563 | 0.1 | 3 |
| 700228** | 4.0 | 0.012 | 1245 | 0.4 | 47 |
| 200070** | 4.0 | 0.007 | 553 | 0.3 | 1 |
| 700157** | 3.0 | 0.050 | 1233 | 0.2 | 13 |
| 700390 | 1.0 | 0.506 | 543 | 0.6 | 1 |
| 700304 | 2.0 | 0.029 | 1229 | 0.1 | 881 |
| 52054 | 3.0 | 0.084 | 543 | 5.7 | 85 |
| 200113** | 3.0 | 0.054 | 1222 | 1.2 | 3 |
| 700345 | 1.0 | 0.240 | 535 | 0.9 | 1 |
| 200098** | 3.0 | 0.028 | 1058 | 0.6 | 31 |
| 54247** | 5.0 | 0.031 | 531 | 0.2 | 31 |
| 700336 | 2.0 | 0.025 | 1053 | 0.5 | 72 |
| 700452 | 1.5 | 0.031 | 524 | 0.4 | 1 |
| 51786 | 5.0 | 0.012 | 1025 | 3.4 | 2 |
| 51592* | 2.0 | 0.023 | 517 | 0.3 | 4 |
| 51781 | 0.1 | 0.113 | 999 | 1.3 | 1 |
| 51749** | 20 | 0.016 | 516 | 0.1 | 3 |
| 200133** | 4.0 | 0.013 | 983 | 0.3 | 177 |
| 200065** | 4.0 | 0.009 | 513 | 0.1 | 3 |
| 700153** | 4.0 | 0.047 | 959 | 0.3 | 3 |
| 200088** | 3.0 | 0.045 | 513 | 0.1 | 1 |
| 51745** | 10.0 | 0.010 | 958 | 1.1 | 20 |
| 50984 | 5.0 | 0.385 | 513 | 0.5 | 1 |
| 700335 | 2.0 | 0.012 | 957 | 0.2 | 6 |
| 700438 | 0.8 | 0.316 | 500 | 3.9 | 1 |
| 51529 | 0.2 | 3.844 | 928 | 17.6 | 1 |
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| 200236 | 3.0 | 0.003 | 928 | 1.0 | 1 |
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| 700310 | 2.0 | 0.012 | 919 | 0.1 | 18 |
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| 700161** | 3.5 | 0.026 | 916 | 0.2 | 137 |
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* Sample reported in the Company's news release dated April 8, 2026
** Sample included in the 99 rock samples summarized in the Company's news release dated June 30, 2026; individual results were published at that time only for samples above 1,000 ppm Cu
Figure 2. Copper in rock samples over the copper-in-soil anomaly
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4631/323671_93d2fbc3d45b9a4b_003full.jpg
Figure 3. Gold in rock samples
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/4631/323671_93d2fbc3d45b9a4b_004full.jpg
Next Steps
- Complete the remaining 270 sampling points of the designed soil grid, extending the grid to the northwest and southeast to follow the copper anomaly where it remains open.
- Continue detailed mapping in the main ravines, distinguishing the mineralization, vein types, and alteration of the main body.
- Plan ground geophysical surveys to refine drill targets, to be integrated with the geochemical and structural datasets.
- Work with the community relations team in the local communities, keeping them informed about exploration activities and agreeing surface access.
- Obtain the permits required for drilling, which are in process.
- Drill up to approximately 3,500 metres in four holes from the first quarter of 2027, designed to test the main copper-gold anomaly, subject to surface access and permits.
Monja Project
The Monja Project is a 9,088-hectare, 100%-owned copper-gold porphyry project comprising two licences in Loja Province, southern Ecuador. The Company announced the identification of a high-priority copper-gold porphyry target at Monja on April 8, 2026, with a central core measuring approximately 2 km by 1 km and a best rock-chip result of 4.77% Cu, 1.12 g/t Au, 19.5 g/t Ag and 74 ppm Mo. On June 30, 2026 the Company reported rock samples grading up to 1.71% Cu, 0.99 g/t Au, 10.3 g/t Ag and 162 ppm Mo, together with an initial 23-sample soil survey in which 16 samples (70%) exceeded 100 ppm Cu. The copper-in-soil anomaly reported today is comparable in size to the approximately 2 km by 1 km core reported on April 8, 2026 and larger than the approximately 1.5 km by 0.5 km porphyry-related alteration footprint reported in the Company's news release dated June 30, 2026. Monja lies within the metallogenic belt of southern Ecuador and northern Peru that also hosts CMOC Group's Cangrejos gold-copper project in El Oro Province, Ecuador, approximately 90 km to the north, and Zijin Mining Group's Río Blanco copper-molybdenum project in Piura, Peru, approximately 70 km to the southeast. These properties are owned by third parties; information about them is from public sources and has not been verified by the Qualified Person. The Company has no interest in these properties, and mineralization at them is not necessarily indicative of mineralization at Monja.
QA/QC Program
Soil samples were collected by Company technical staff from B-horizon material at depths of approximately 0.2 m to 2.5 m, and locally deeper, on a 100 m by 100 m grid. Samples were securely sealed and prepared at Bureau Veritas in Quito, Ecuador, and analysed at Bureau Veritas in Callao, Peru (Inspectorate Services Perú S.A.C.), independent accredited laboratories. Samples were dried, pulverized to 95% passing 150 mesh and analysed using a 44-element aqua regia digestion with an ICP-AES finish, and gold analysis was completed by lead collection fire assay fusion with an AAS finish. The Company implements a quality assurance/quality control (QA/QC) program that includes chain-of-custody and the insertion of standards, blanks and duplicates; control samples were inserted into the soil sample stream at a rate of one in twenty. Soil geochemical data were processed and statistically analysed in ioGAS.
Rock samples reported for the first time in this news release were mainly rock chip and channel samples and were submitted to Bureau Veritas Ecuador, an independent accredited laboratory, prepared in Quito, Ecuador, and analysed in Lima, Peru, using a 44-element aqua regia digestion with an ICP-OES finish; Ag, Cu, Pb, Zn, As, Ni and Co were determined by aqua regia digestion with an AAS finish. Gold analysis was completed by lead collection fire assay fusion with an AAS finish, with values above 10 g/t Au completed by fire assay fusion with a gravimetric finish. Copper values were determined by aqua regia digestion with an AAS finish, as for the samples reported on June 30, 2026, and the QA/QC program for rock samples includes chain-of-custody and the insertion of standards, blanks and duplicates. Rock samples reported previously were analysed as described in the Company's news releases dated April 8 and June 30, 2026, which also describe the sample types and QA/QC procedures.
Qualified Person
The scientific and technical information in this news release has been reviewed and approved by Kieran Downes, Ph.D., P.Geo., a Qualified Person as defined by National Instrument 43-101, who is independent of the Company.
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.
Forward-Looking Statements
This news release contains "forward-looking information" within the meaning of applicable Canadian securities laws, including statements regarding the interpretation of geochemical data at the Monja Project; the presence, scale and continuity of a copper-gold porphyry system; the extent of the copper-in-soil anomaly and its potential to expand to the northwest and southeast; the completion of the remaining soil grid; the timing and results of pending assays; the planning and execution of ground geophysical surveys; the definition of drill targets; the planned drilling at Monja and its timing; and the outcome of community engagement and land-access discussions. Forward-looking information is based on the reasonable assumptions, estimates, analyses and opinions of management as of the date such statements are made, and is subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from those expressed or implied. Such risks include, without limitation, the preliminary and interpretive nature of the geochemical work presented herein, the fact that soil geochemical anomalies are exploration indicators only and are not necessarily indicative of the presence, grade or continuity of mineralization at depth, the risk that follow-up exploration may not confirm the extent or continuity of the anomalies described, and the risk that access agreements required to complete the program may not be obtained, or that permits required for drilling may be delayed or not obtained. Readers are cautioned not to place undue reliance on forward-looking information. Salazar does not undertake any obligation to update forward-looking information except as required by applicable securities laws.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/323671
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