Salazar and the Canadian Ambassador to Ecuador, Christian LaPointe, have held a joint meeting with the President of Ecuador, Rafael Correa, and other senior authorities of the mining sector with the objective of analyzing the effect of the recently announced new mining mandate.

President Correa stated that the intention of his government is to regulate the mining activities in Ecuador fairly; so that mining is beneficial to companies, the state and local communities, and to establish a solid foundation for the future development of the mining industry in Ecuador.

We anticipate meeting with the authorities of Ecuador on a continuing basis so to have more information and influence on how the mandate will affect its mining operations and ultimately its shareholders. The company will vigorously participate in the development of the new mining law.

This all being said, Salazar is well financed and will not be sitting idle during this time. We have one of the top technical geological teams in South America and the working capital to seek out further acquisitions, while retaining our project in Ecuador.