Lundin Mining Corp. (LUN-T5.13----%) has acquired a 15.4-per-cent stake in Salazar Resources Ltd. (SRL-X0.560.035.66%), a junior miner with operations in Ecuador.

Lundin acquired the stake by taking up 80 per cent of a private placement deal saw Salazar raise $3-million by issuing six million shares and half-warrants of the company.

Lundin Mining (LUN-T)

5.13 -- --%

As of Feb 2, 2012 4:00

Range:

• 1 Day
• 5 Day
• 1 Year

View Larger Chart

Add to Watchlist

Salazar Resources (SRL-X)

0.56 0.03 5.66%

As of Feb 2, 2012 2:43

Range:

• 1 Day
• 5 Day
• 1 Year

View Larger Chart

Add to Watchlist

Additionally Silvercorp Metals Inc. took part in the financing to maintain its 10.7-per-cent stake in Salazar, which is developing the El Domo gold and base metals deposit in Ecuador.

“Lundin Mining is world-renowned for their successes in identifying and advancing high quality mineral development projects through to production,” Salazar chief executive officer Fredy Salazar said in a release before stock markets opened Friday.

“We look forward to working with this experienced and highly regarded group. Salazar management believes that the new interest and investment by Lundin, as well as Silvercorp's continued investment and support is a testament to the quality and