Zaruma Resources: Announces Drill Results and Commencement of Construction at the Luz del Cobre Copper Project (Sonora, Mexico)



    TORONTO, Nov. 12 /CNW/ - Zaruma Resources Inc., (TSX-ZMR) today announced
the following results from the drilling programme which commenced on
October 1, 2007.
    On the southwest end of Luz del Cobre, five holes were drilled to assess
the undefined extension of the mineralization, each drill test roughly a
25 metre step-out from past drill holes along adjacent drill sections also
spaced 25 metres apart. All five holes successfully encountered encouraging
copper mineralization with additional drilling planned to further extend the
limits of the southwestern margin of the existing ore reserves.

    
    -------------------------------------------------------------------------
     DRILL SEC.  DRILL ID       FROM, M.     TO, M.    TRUE WIDTH M.  COPPER
    -------------------------------------------------------------------------
     150 NE      LUZ-07-14        31.8         46.4         14.6       0.54%
    -------------------------------------------------------------------------
                 including        32.9           36          3.1       1.10%
                -------------------------------------------------------------
                       and        43.8         46.4          2.6       1.39%
    -------------------------------------------------------------------------
     125 NE      LUZ-07-15        59.9        65.15         5.25       0.34%
    -------------------------------------------------------------------------
     100 NE      LUZ-07-16       57.91         82.7        25.79       1.37%
    -------------------------------------------------------------------------
      75 NE      LUZ-07-17       54.55         72.5        17.95       0.46%
    -------------------------------------------------------------------------
     175 NE      LUZ-07-18        47.7         51.4          3.7       0.44%
    -------------------------------------------------------------------------
    

    Drillhole LUZ-07-22 was drilled within the Luz del Cobre ore body to
obtain sample material for additional metallurgical testing, but encountered
old workings that required stopping the hole short of what was needed. The
hole was terminated at 91.44 metres, but the following intersections confirmed
the copper grades in this known part of the ore body;

    
    -------------------------------------------------------------------------
     DRILL SEC.  DRILL ID       FROM, M.     TO, M.    TRUE WIDTH M.  COPPER
    -------------------------------------------------------------------------
     150 NE      LUZ-07-22        68.9         82.3         13.4       1.87%
    -------------------------------------------------------------------------
                                  82.3        89.39    Mine workings
                               ----------------------------------------------
                                 89.39        91.44         2.05       2.15%
                               ----------------------------------------------
    

    An additional 16 drill holes of the first phase of the exploration of the
Trion-Luz del Cobre area are located along the northeasterly corridor, with
the most northeasterly hole located approximately 150 metres west of Luz del
Cobre, and the most distant hole situated 1,000 metres to the southwest. In a
zone called "Calvario", the three most northeasterly holes drilled so far
encountered encouraging results, supporting the possibility of additional
mineralization near Luz del Cobre. Visible metallic copper was noted in two of
the inclined holes. Further drilling is planned for this area.

    
    --------------------------------------------------------------
     DRILL ID       FROM, M.      TO, M.     INTERSECTED   COPPER
                                              WIDTH, M.
    --------------------------------------------------------------
     LUZ-07-20         65.7         83.2         17.5       0.99%
    --------------------------------------------------------------
     LUZ-07-23        60.96         83.2        22.24       0.99%
    --------------------------------------------------------------
    

    The true width of holes Luz-07-20 and 23 have not been calculated.
    Assays were prepared by Jacobs Assay Lab-Registered Assayers, Tucson,
Arizona, from pulps prepared by Sonora Sample Preparations, Hermosillo,
Mexico. Results for the remaining drill holes are pending.
    The Company also reported that at Luz del Cobre, field activities have
commenced and the construction of on site facilities for the construction
staff is under way. Senior staff is being engaged and the technical
consultants for the plant construction and access roads as well as the mine
and leach pad development are fast-tracking the project to production. The
operational mine plan continues to be to produce 15 million pounds of cathode
copper per year for more than five years, through an open pit mining, heap
leach, solvent extraction, electro-winning operation. The current estimate to
first production of cathodes from the plant is fourteen months.
    The Company announced that a Report to Shareholders, which contains more
details on the activity in the third quarter, is being filed on the Company's
website and on SEDAR later today.
    Costs incurred in Mexico for the nine months were $848,000, of which
$407,000 was capitalized as Luz del Cobre project costs and some development
drilling. For the same period in 2006, expenditures were $650,000, all written
off.
    The net loss for the year to September 30 was $905,000, or less than one
cent per share, compared to $1,381,000 for the comparable period in 2006, a
loss of $0.016 per share.
    The President and CEO of Zaruma, Thomas Utter commented that: "Both the
exploration programme and the construction of the Luz del Cobre mine and
processing plant are being fast-tracked, with very good results in the short
time since the financing was put in place, which started the signing of
contracts and the engagement of staff. We look forward to providing regular
reports on the progress of the construction and the drilling programme."

    Zaruma Resources Inc. is listed on The Toronto and Frankfurt Stock
Exchanges (symbol: ZMR). Common shares outstanding: 111,458,271.

    This News Release contains forward-looking statements which are typically
preceded by, followed by or including the words "believes", "expects",
"anticipates", "estimates", "intends", "plans" or similar expressions.
Forward-looking statements are not guarantees of future performance as they
involve risks, uncertainties and assumptions, including securing additional
funding to continue its development programmes.

    The drilling programme is under the supervision of Geologist James E.
Poulter, the "Qualified Person" as defined in NI 43-101, and is responsible
for the technical information presented in this news release.





For further information:

For further information: Zaruma Resources Inc., 20 Toronto Street, 12th
Floor, Toronto ON, M5C 2B8, Canada, Fax: (416) 367-3638, service@zaruma.com,
www.zaruma.com; Dr. Thomas Utter, President and CEO, Tel.: 521 662 222 0063,
521 662 210 5650, thomas.utter@zaruma.com; Frank van de Water, CFO and
Secretary, Tel.: (416) 869-0772, fvandewater@on.aibn.com

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