Zaruma Resources Completes Bridge Financing

TORONTO, March 21 /CNW/ --
TORONTO, March 21 /CNW/ - Zaruma Resources Inc., (TSXV:ZMR.H), (the
'Company' or 'Zaruma') announced that it has completed the final
portion of the bridge financing conditionally approved by the TSX
Venture Exchange, through a Private Placement of a total of 4 million
units comprising one common share and one warrant entitling the holder
to acquire an additional common share of the Company for C$0.10 for a
period of one year from the date of subscription. The units are priced
at C$0.05 with the proceeds being used for the Company's cash
requirements leading up to the previously announced equity and debt
financing to complete the Luz del Cobre Copper Project.

Today's subscription was for 1.7 million units for proceeds of C$85,000.

The previously reported financing for the Luz del Cobre Copper Project
includes US$25 million in equity financing through the subscription for
units priced as above, as well as a debt financing from a major
international bank for US$30 million, and is conditional on both
financings being completed, along with the settlement of the
outstanding debt financing from a subsidiary of Glencore International
AG.

The financing was approved by the Shareholders on December 29, 2010, and
is currently in the process of final review by all parties.

Zaruma is listed on the NEX Board of the TSX Venture Exchange, (symbol
ZMR.H) and the Frankfurt Stock Exchange, (symbol: ZMR). Common shares
outstanding: 123,608,747.

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.

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.

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