February 27, 2008 10:49 ET

eResearch Initiates Coverage on Zaruma Resources Inc. with Speculative Buy Rating and One-Year/Three-Year Target Prices of $0.70/$1.65

TORONTO, ONTARIO--(Marketwire - Feb. 27, 2008) - The strategic relationship that Zaruma Resources has with world-renowned Glencore International warrants special investor consideration for this promising but over-looked Canadian junior mining company.

Zaruma Resources Inc. is an advanced-stage exploration company, with copper and gold properties located in Mexico and a gold property in Venezuela. The copper project is nearing production, with start-up expected by January 2009. Zaruma is based in Toronto and managed by a team of mining professionals with international experience.

Highlights of the report are as follows:

- Strategic relationship with Glencore International AG

- Luz del Cobre copper project nearing production (January 2009)

- Majority of required financing for Luz del Cobre development now in place

- Solid existing infrastructure with good access to major transportation centers

- Significant cost efficiencies for development of adjacent San Antonio gold project

- Strong commodity prices should continue

- Company needs greater market awareness

- Challenge includes bringing the copper project into production on time and on budget

This Press Release was prepared by eResearch and was not vetted by Zaruma Resources Inc. Further, the Recommendation and Target Price contained in this report are strictly those of eResearch and, due to securities laws, are not endorsed by Zaruma Resources Inc.

eResearch is Canada's primary source for independent, quality, investment research, focused primarily on small- and mid-cap companies. Our research and analysis is of institutional quality, and has the potential of reaching millions of global investors through our extensive electronic distribution network. eResearch does not engage in retail or institutional sales, trading, or corporate finance activities, nor does it conduct investment banking or investor relations services for the companies covered. Our sole business is providing quality, unbiased research.

Zaruma Resources Inc. paid eResearch a fee of C$20,000 + GST to conduct research on the Company, on an Annual Continuous Coverage basis.

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