TORONTO, April 30 /CNW/ - Zaruma Resources Inc., (TSXV-ZMR.H), (the "Company") has determined that it will be unable to file its audited consolidated financial statements for the fiscal year ended December 31, 2009 (the "Annual Financial Statements") by the end of the day today, April 30, 2010, which is the filing deadline provided in National Instrument 51-102 - Continuous Disclosure Obligations. The Company has insufficient funds available to complete the audit of the Annual Financial Statements. The Company is a reporting issuer in Ontario, British Columbia and Alberta. The Company anticipates that, as a consequence of its failure to file the Annual Financial Statements within the required time period, cease trade orders prohibiting trading in the securities of the Company may be issued by the securities commissions of those provinces.
The Company is actively pursuing a refinancing of the Company which, if completed, would enable the Company to resume the completion of construction and commence operations at the Luz del Cobre Copper Project in Sonora, Mexico. A necessary element of any such refinancing would be sufficient funds to enable to the Company to complete and file the Annual Financial Statements.
Zaruma Resources Inc. is a pre-production stage company listed on the TSX-V NEX Board (symbol ZMR.H) and the Frankfurt Stock Exchange (symbol: ZMR). Common shares currently outstanding 117,608,747.
Neither TSXVenture 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 release.
SOURCE ZARUMA RESOURCES INC.
For further information: For further information: Zaruma Resources Inc., 20 Toronto Street, 12th Floor, Toronto ON, M5C 2B8, Canada, Fax: (416) 367-3638, firstname.lastname@example.org, www.zaruma.com; Dr. Thomas Utter, President and CEO, Tel: +1 52 662 210 5650, email@example.com; Frank van de Water, CFO and Secretary, Tel.: (416) 869-0772, firstname.lastname@example.org