Zaruma Resources: Drill Results Expand Copper Mineralization at Luz del Cobre



    TORONTO, Jan. 14 /CNW/ - Zaruma Resources Inc., (TSX-ZMR) is pleased to
report that results from drilling in the Trion-Luz del Cobre area, located in
the Company's San Antonio project (Sonora, Mexico), continue to expand the
copper mineralization of the Luz del Cobre ore body. In addition, nearby
exploration drilling has shown very encouraging copper intercepts at the
recently discovered Calvario target and has revealed near surface copper
mineralization 500 metres west of Luz del Cobre in the Trion area.
    The first phase of drilling in the Trion-Luz del Cobre area, completed
December 10, included 3,957 metres of core drilling in 41 holes. Results from
the first nine holes were previously reported (News Release November 12,
2007), and of the remaining 32 holes, all but three intercepted intervals
grading 0.3% copper or higher, with assays still pending for the final hole.
    On the southwest end of Luz del Cobre, a total of 10 holes have been
drilled with very encouraging results. In addition to the previously reported
five holes, results from four more holes are now available, with assays
pending for the final hole. The holes are systematic 25 metre step out tests
along section lines also spaced at 25 metres and continue to expand the limits
of the copper mineralization to the south, currently by at least 50 meters
along a 100 metre front. Results of the four available holes are:

    
    -----------------------------------------------------------------------
    Drill       Drill ID      From, m.    To, m.       True        Copper
    Section                                          width, m.
    -----------------------------------------------------------------------
    100 NE      LUZ07-50        45.8        59.4        13.6       1.31%
    -----------------------------------------------------------------------
    75 NE       LUZ07-51        54.4        66.7        12.3       0.99%
    -----------------------------------------------------------------------
    50 NE       LUZ07-52        45.8        74.0        28.2       0.55%
    -----------------------------------------------------------------------
    125 NE      LUZ07-53(*)     58.8        61.0         2.2(*)    0.83(*)
    -----------------------------------------------------------------------
    50 NE       LUZ07-54    Results not yet available
    -----------------------------------------------------------------------
    (*)LUZ07-53 abandoned in fault zone at top of projected ore zone

    Very encouraging results were also received from an additional five holes
drilled in the Calvario target, located approximately 150 metres west of Luz
del Cobre. Current results, along with the previously reported three holes,
confirm Calvario to be a very exiting copper target of similar character to
Luz del Cobre with potential to add to the mineable resources. Drilling at
Calvario is along lines spaced at 25 metre intervals, with holes now located
on four of the drill sections, with results as follows:

    ---------------------------------------------------------------------
    Drill       Drill ID    From, m.    To, m.      Intersected Copper
    Section                                         width, m.
    ---------------------------------------------------------------------
    25N         LUZ07-46        51.8        77.2        25.4       1.31%
    ---------------------------------------------------------------------
                     and        84.6        91.4         6.8(*)    0.66%
    ---------------------------------------------------------------------
    50N         LUZ07-47        57.0        61.7        4.68       1.42%
    ---------------------------------------------------------------------
    50N         LUZ07-48        42.7        57.9        15.2       0.31%
    ---------------------------------------------------------------------
    75N         LUZ07-49        24.4        27.4         3.0       1.40%
    ---------------------------------------------------------------------
    (*)LUZ07-46 bottomed in mineralization

    With the encouraging results from the completed drilling, a second phase
drill programme has commenced to continue the expansion of the existing ore
reserves at Luz del Cobre and to develop resources at Calvario.
    The remaining 21 drill holes from the first phase programme were drilled
along the Trion trend, a northeasterly directed and geochemically anomalous
structural zone extending for roughly one kilometer to the southwest from the
Calvario target. Drilling has been completed along the length of the zone with
the objective of locating areas for future delineation of resources that could
be processed in the Luz del Cobre facilities. Interpretation of the assay
data, which have just been received, is ongoing, but the widespread occurrence
of copper is very encouraging. The results, in particular from holes TR07-43,
44 and 45, in an area referred to as Central Trion, suggest potential
locations of additional copper resources. Significant results, here defined as
cumulative copper bearing intervals in excess of 5 metres, for drilling along
the Trion trend are as follows, with location given along pre-existing
30 metre spaced drill section lines continued into the area from previous work
to the west:

    ---------------------------------------------------------------------
    Drill       Drill ID      From, m.    To, m.    Intersected   Copper
    Section                                           width, m.
    ---------------------------------------------------------------------
    70E         TR07-24        108.4       120.4        12.0       0.25%
    ---------------------------------------------------------------------
    68E         TR07-25          6.3         8.5         2.2       0.38%
                            ---------------------------------------------
                  and           14.0        19.5         5.5       0.61%
                            ---------------------------------------------
                  and           71.4        73.9         2.5       0.45%
                            ---------------------------------------------
                  and           85.6        88.4         2.8       0.38%
                            ---------------------------------------------
                  and           92.4        96.9         4.5       0.47%
    ---------------------------------------------------------------------
    60E         TR07-27         55.0        60.4         5.4       0.41%
                            ---------------------------------------------
                  and          132.7       140.4         7.7       0.34%
    ---------------------------------------------------------------------
    60E         TR07-28          6.1        12.5         6.4       1.34%
                            ---------------------------------------------
                  and           42.7        43.7         1.0       2.18%
                            ---------------------------------------------
                  and           95.4       101.4         6.0       0.31%
                            ---------------------------------------------
                  and          105.8       108.8         3.0       0.34%
    ---------------------------------------------------------------------
    58E         TR07-29         32.5        57.9        25.4       0.36%
    ---------------------------------------------------------------------
    51E         TR07-31         36.6        39.6         3.0       0.32%
                            ---------------------------------------------
                  and           44.6        46.5         1.9       0.45%
                            ---------------------------------------------
                  and           50.4        55.0         4.6       0.66%
    ---------------------------------------------------------------------
    51E         TR07-32         11.4        20.0         8.6       0.29%
    ---------------------------------------------------------------------
    60E         TR07-36          0.0         5.0         5.0       0.31%
                            ---------------------------------------------
                  and           19.8        41.1        21.3       0.56%
    ---------------------------------------------------------------------
    57E         TR07-39         28.8        34.1         5.3       0.29%
    ---------------------------------------------------------------------
    64E         TR07-43         12.4        21.9         9.5       0.32%
                            ---------------------------------------------
                  and           45.8        50.8         5.0       0.35%
                            ---------------------------------------------
                  and           75.2        96.6        21.4       0.96%
    ---------------------------------------------------------------------
    63E         TR07-44         64.0        79.2        15.2       0.59%
                            ---------------------------------------------
               including        64.0        67.0         3.0       1.41%
                            ---------------------------------------------
                  and           76.2        79.2         3.0       1.19%
    ---------------------------------------------------------------------
    61E         TR07-45         83.8        97.5        13.7       0.47%
    ---------------------------------------------------------------------
    

    Surface work in the Trion area, including mapping and sampling of
recently completed trenches, is continuing. Assays from this work are pending
and will be used for the interpretation and correlation of the Trion drill
information to define follow up drill targets.
    The President and CEO of Zaruma, Thomas Utter commented that: "The
results of the first phase of drilling in the Trion-Luz del Cobre area confirm
that additional, open ended copper mineralization has been found that will
lead to an increase in reserves to be processed by the Luz del Cobre plant,
currently under construction. This will likely extend the life of the mine
beyond the estimated five to six years in the 2006 feasibility study, with
production planned at 15 million pounds of cathode copper per year from an
open pit mining, heap leach, solvent extraction, electro-winning operation."
    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.
    Assays were prepared by Jacobs Assay Lab-Registered Assayers, Tucson,
Arizona, from pulps prepared by Sonora Sample Preparations, Hermosillo,
Mexico.
    Zaruma Resources Inc. is listed on The Toronto and Frankfurt Stock
Exchanges, (symbol: ZMR). Common shares outstanding: 111,491,271.

    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.





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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