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ROAD TOWN, TORTOLA, BRITISH VIRGIN ISLANDS--(Marketwire - June 23, 2011) - Zaruma Gold Mining Ltd. ("ZGML"), c/o Trident Trust Company BVI Limited, Trident Chambers, PO Box 146, Road Town, Tortola, British Virgin Islands, announces that pursuant to a private placement financing (the "Private Placement") by Zaruma Resources Inc. (the "Corporation"), its affiliate Kirkland Intertrade Corp. ("Kirkland"), c/o Trident Trust Company BVI Limited, Trident Chambers, PO Box 146, Road Town, Tortola, subscribed for and acquired ownership of 12,313,980 subscription receipts (each, a "Subscription Receipt") of the Corporation, at a price of Cdn$0.05 per Subscription Receipt for aggregate consideration of Cdn$615,699. This represented approximately 2.4% of the aggregate number of Subscription Receipts issued pursuant to the Private Placement, and when combined with the 390,920,000 Subscription Receipts previously acquired by ZGML pursuant to the Private Placement, represented approximately 79.0% of the aggregate number of Subscription Receipts issued pursuant to the Private Placement. |
