TORONTO, Nov. 4, 2011 /CNW/ – Zaruma Resources Inc., (TSX-V: ZMR), (the “Company” or “Zaruma”) today announced that the Company will proceed with the previously approved share consolidation and name change, expected to be effective November 8, 2011. On the effective date, the currently outstanding common shares of the Company will be consolidated on the basis of one new common share for ten existing common shares, and the Company’s name will be changed to “Red Tiger Mining Inc.” In the event that the number of existing common shares held by a shareholder is not evenly divisible by ten, the number of post-consolidation common shares issued to such shareholder shall be rounded up to the next whole number. Red Tiger will trade on the TSX Venture Exchange as a Tier 1 Mining Company, under the stock symbol “RMN”.