TORONTO, Aug. 9, 2011 /CNW/ – Zaruma Resources Inc., (TSXV: ZMR), (the “Company” or “Zaruma”) today reported that TSX Venture Exchange had accepted for filing documentation regarding the recently completed US$25 million equity financing resulting in the issue of 488,649,998 common shares of the Company and the same number of warrants permitting the holders to purchase one common share per warrant for C$0.10 for a period of two years. Also accepted for filing was the issue of 21,500,600 shares and warrants in exchange for the cancellation of all agreements between the Company and Glencore International AG and certain of its affiliates.

The Company has met the requirements to be listed as a TSX Venture Tier 1 Company and effective on August 10, 2011 the Company’s listing will change from the NEX Board to the TSX Venture Exchange, with the trading symbol changing to ZMR at the opening of trading. The Company’s shares have been subject to a trading halt since July 15, 2011 pending this change in listing.

Zaruma is a pre-production stage Company with the Company’s wholly owned subsidiary planning to complete the development of the Luz del Cobre Copper Project in Sonora, Mexico and be in production as early as the first quarter of 2012. Common shares outstanding 652,320,285. The Company’s shares also trade on the Frankfurt Stock Exchange, (trading symbol: ZMR).

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 the completion of the current financing.

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.