RML Rusoro Mining Ltd

Rusoro Mining Ltd. (TSX VENTURE: RML) ("Rusoro" or the "Company") announced that its offer to purchase all of the common shares of Gold Reserve Inc. (TSX: GRZ)(NYSE Alternext US: GRZ) expired today and, because the conditions to its offer were not met, Rusoro will not take up any securities deposited under the offer. All deposited securities will be returned to security holders.

About Rusoro

Rusoro is a junior gold producer with a large land position in the prolific Bolivar State region of Venezuela. The Company operates the Choco 10 and Isidora mines, processing the ore through the Choco 10 mill facility near the town of El Callao.

ON BEHALF OF THE BOARD

George Salamis, President

The TSX Venture Exchange has not reviewed and does not take responsibility for the adequacy or accuracy of this release.

Contacts: Rusoro Mining Ltd. George Salamis President (604) 632-4044 or Toll Free: 1-800-668-0091 Email: gsalamis@rusoro.com Rusoro Mining Ltd. Ross Gatensbury Investor Relations (604) 632-4044 or Toll Free: 1-800-668-0091 (604) 632-4045 (FAX) Email: gates@rusoro.com Website: www.rusoro.com