Zamora Gold Corp.

April 29, 2010 16:00 ET

Corporate Update for Zamora Gold Corp.

GUAYAQUIL, ECUADOR--(Marketwire - April 29, 2010) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Zamora Gold Corp. ("Zamora") announces that the Corporation's assets located in the Republic of Ecuador, have been expropriated by the Government of Ecuador. This expropriation has occurred pursuant to a resolution of the Ecuadorean Guarantee Deposit Agency and applies to the shares of all Ecuadorean registered subsidiaries of Zamora, being Mineral del Austro Mineraustro S.A, Minreal S.A, and Concumaysa Compania Minera Cumay del Ecuador S.A. The shares of these subsidiaries represent all of Zamora's assets. The Corporation is at this time considering the possibility of commencing an international claim against the Republic of Ecuador.

Zamora's securities are currently subject to a cease trade order issued by the Ontario Securities Commission by way of a temporary cease trade order dated July 7, 2003 and further extended on July 18, 2003 for failure to file audited financial statements for the year ended December 31, 2002 and interim financial statements for the three month period ended March 31, 2003. Zamora had made an application to the Ontario Securities Commission for a revocation of the cease trade order, however, it has let that application lapse in light of the above seizure. No trading in the securities of Zamora may occur.

Zamora is based in Guayaquil, Ecuador and was engaged in the exploration and exploitation of mineral properties in Ecuador.

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