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Zaruma Resources: Announces Drill Results and Commencement of Construction at the Luz del Cobre Copper Project (Sonora, Mexico)
Monday November 12, 2:32 pm ET


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.


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

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

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

Zaruma Resources Inc., 20 Toronto Street, 12th Floor, Toronto ON, M5C 2B8, Canada, Fax: [phone], [e-mail], www.zaruma.com
Dr. Thomas Utter, President and CEO, Tel.: [phone], [e-mail]
Frank van de Water, CFO and Secretary, Tel.: [phone], [e-mail]