RML Rusoro Mining Ltd

Rusoro Mining Ltd. ("Rusoro" or the "Company") (TSX VENTURE:RML) is pleased to
report its financial results for the quarter ended March 31, 2008. The Company's
Q1 consolidated financial statements and management's discussion and analysis
(MD&A) for the quarter ended March 31, 2008 have been filed on SEDAR
(www.sedar.com).


The first quarter of 2008 marked the first full quarter of reporting since the
Company acquired all the assets and liabilities of Gold Fields Netherlands
Services BV, ("Gold Fields"), which included the Choco 10 operating mine. The
completion of this transaction on November 30, 2007 also marked the Company's
transition from being an exploration company to being a gold producer.


All amounts set out in the Company's financial statements and MD&A are unaudited
and in United States dollars, unless otherwise stated.


Q1 2008 Highlights

The following are the highlights for the quarter ended March 31, 2008 and
related information. For detailed information regarding Rusoro's Q1 2008
financial information, please refer to the Financials Statements and the MD&A
which have been filed on SEDAR at www.sedar.com and can be found on the
Company's website at www.rusoro.com.


Financial:

- The first quarter of 2008 marked Rusoro's first full quarter of reporting from
the Choco 10 mine in El Callao. Rusoro took over as the mine operator on Oct 11,
2007 and assumed full ownership of the mine on November 30, 2007.


- The Company recorded its first full quarter of revenues as a gold producer of
$11.7 million.


Operational



--------------------------------------------------------------------------
                                       Q4 2007, ending     Q1 2008, ending
Choco 10 Mine                            Dec 31st 2007    March 31st, 2008
--------------------------------------------------------------------------

--------------------------------------------------------------------------
Ore Processed/tonnes milled                    563,355             616,664
--------------------------------------------------------------------------
Average tonnes milled per day                    6,943               7,250
--------------------------------------------------------------------------
Average gold grade (g/t)                          1,67                1,41
--------------------------------------------------------------------------
Average Gold Recovery                            83.04%              86.58%
--------------------------------------------------------------------------
Gold Ounces Produced                         (i)27,790              25,040
--------------------------------------------------------------------------
(i) "Rusoro assumed management responsibility under the terms of the
     acquisition for the Choco 10 mine on October 11, 2007 and became the
     legal owner on Nov 30, 2007. The ounces of gold produced in the table
     above for Q4 2007 includes 18,119 Au/oz produced during the period
     Oct 11, 2007 and Nov 30, 2007 while the mine was under Rusoro's
     control."



- Choco 10 Mine produced 25,040 ounces of gold at an average cash operating cost
of $498 per ounce of gold. Under the previous operator for the same period (Q1)
in 2007 the mine produced 8,221 ounces of gold at an average cash operating cost
of $748/oz. Q1 2008 showed an increase in production of 205% and a reduction in
operating cash costs of $250/oz or 33.4% compared to the same period last year.


- Permitting for the development and mining of oxide ore from the Increible 6 to
be processed at the Choco 10 mill is well underway. Preliminary mine design has
been completed.


- Scoping and Feasibility studies for the planned production expansion at the
Choco 10 Mine were awarded to Micon International Ltd. and work on the ground
has been initiated.


- Capital expenditures of $25 million on a new mobile mine fleet and plant
equipment were initiated during the quarter. Some delays have been encountered
in the importation of this new equipment, however delivery and phasing in of
mobile fleet is expected to occur throughout Q2 2008.


- Mine development at the SREP gold deposit through the development of a 1.8 km
ramp to access the ore bodies at 200m depth continues and is scheduled for
completion in Q4 2008, though minor delays have occurred due to seasonal rains.


Exploration:

- Resource and reserve in-fill drilling, in addition to geotechnical drilling,
is being carried out in the Choco 10 Mine lease areas. Highlights of this
drilling include; from the Coacia Area, 18.63g/t Au over 12m, 13.74g/t Au over
14m, 3.86g/t Au over 39m and from the VBK Area, 7.73g/t Au over 13.2m and
9.39g/t Au over 9.2m.


- Significant gold discoveries recently made at the Valle Hondo, Increible 14
and Yuruan projects.


- Recent results for all of these projects were released in a news release on
May 22, 2008.


Rusoro is very pleased with the progress being made in all facets of its growth
strategy. Operations continue to improve as the processes at the plant are
optimized, expansion continues to move forward at both the Choco and Emilia
mills and the exploration programs continue to prove the world class geology of
Venezuela for the discovery of gold.


Rusoro's President George Salamis reports: "We are very pleased that we have
been able to demonstrate that our turn-around strategy for the Choco 10 Mine is
proving to be successful. Going forward we are confident that we can continue to
improve significantly on our operational numbers and have in fact had a record
month in May 2008 for total tonnes of ore processed in the mill at 226,660
tonnes. The execution of our Mine optimization goals, in addition to this recent
ore processing record, is a testament to the hard work and dedication of our
Mine Management team and employees at the Choco 10 Mine."


Diamond drilling was conducted by Perforaciones Mayortec (Major Drilling),
Technodrilling and Core Biel Drilling of Puerto Ordaz, Venezuela. RC drilling
was completed by AK Drilling of Peru. All drilling and drill sampling have been
completed using industry standard practices. All drill core is described in
detail and photographed and one half of the core remains for inspection and
reference.


Sample analyses have been conducted at Acme Analytical, Actlabs, SGS labs and
Triad Labs located in Guasipati, Tumeremo, El Dorado and El Callao, Bolivar
State Venezuela. All sample analyses were completed using industry standard
practices and standard samples, blanks and duplicate check samples were randomly
inserted into the sample stream to ensure quality control. A review of the QA/QC
results shows no significant bias and all results are considered highly
reliable. Sample rejects for all drill samples are stored in Rusoro's secure
facilities in Tumeremo, Venezuela, and will continue to be available for any
further testing which may be required. All QA/QC is completed under the
direction of G.F. Smith, P.Geo.


Qualified Person: Mr. Gregory Smith, P.Geo, the Vice-President Exploration of
the Company, is the Qualified Person as defined by National Instrument 43-101,
and is responsible for the accuracy of this news release.


About Rusoro

Rusoro Mining is an advanced junior gold producer with a large land position in
the prolific Bolivar State region of Venezuela. The Company's current NI 43-101
compliant resource estimation stands at 6.630 M/oz gold in the M & I category
(84.0 M/t @ 2.5 g/t) and 6.220 M/oz gold in the inferred category (108.2 Mt @
1.8 g/t). The Company expects to produce approximately 120,000 Au ounces in 2008
and expand its annualized production rate to over 150,000 oz/yr by year end.
Rusoro will drill up to 300,000 meters in 2008 to expand and upgrade its gold
ounces for projected production expansion at both the Choco 10 Mine in El Callao
and the Emilia Mine in El Dorado.


ON BEHALF OF THE BOARD

George Salamis, President

Forward-looking statements: This document contains statements about expected or
anticipated future events and financial results that are forward-looking in
nature and as a result, are subject to certain risks and uncertainties, such as
general economic, market and business conditions, the regulatory process and
actions, technical issues, new legislation, competitive and general economic
factors and conditions, the uncertainties resulting from potential delays or
changes in plans, the occurrence of unexpected events, and the Company's
capability to execute and implement its future plans. Actual results may differ
materially from those projected by management. For such statements, we claim the
safe harbour for forward-looking statements within the meaning of the Private
Securities Legislation Reform Act of 1995.

Rusoro Mining (TSXV:RML)
Gráfica de Acción Histórica
De Jun 2024 a Jul 2024

Rusoro Mining (TSXV:RML)
Gráfica de Acción Histórica
De Jul 2023 a Jul 2024