RML Rusoro Mining Ltd

In response to the news release issued by Gold Reserve Inc. ("Gold Reserve") on
Wednesday August 27, 2008, Rusoro Mining Ltd. (TSX VENTURE:RML) ("Rusoro" or the
"Company") would like to confirm that it tabled a non-binding expression of
interest, which expired at 11:59 pm Vancouver time on Tuesday August 26, 2008.
The Company further confirms that it has received a response from Gold Reserve
dated August 26, 2008.


Since its formation in 2006, Rusoro's stated corporate strategy has been to
consolidate the gold mining sector in Venezuela. Management viewed this
non-binding expression of interest to Gold Reserve as part of our normal course
of business to further pursue other gold mining opportunities in Venezuela by
offering fair value to Gold Reserve and its shareholders.


Rusoro management is of the opinion that a consolidation of its assets and
abilities with those of Gold Reserve could potentially help transition their
Brisas gold deposit to development and future production in the Km88 District.


Rusoro will continue to actively pursue consolidation opportunities and further
demonstrate its ability to successfully develop and operate gold mines in
Venezuela.


About Rusoro

In the last 12 months, Rusoro has successfully completed the acquisition of two
operating mines in Venezuela. The Company currently operates the fully permitted
Choco 10 and Isidora Mines, processing the ore through the Choco Mill facility
near the town of El Callao. The Company has significant 43-101 compliant gold
resources and has targeted production of approximately 150,000 oz/Au in 2008.
Rusoro is currently working on expanding its production at both the Choco 10
Mill in El Callao and the Emilia Mill in El Dorado where the fully-permitted
SREP Mine is located.


With recent acquisitions, and through its own organic growth via exploration,
Rusoro owns 43-101 compliant Measured and Indicated Resources of 6,930,000
ounces of gold (84 Mt grading 2.6 g/t gold) and additional Inferred Resources of
6,339,000 ounces of gold (108.2 Mt grading 1.8 g/t of gold).


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