Mr. Andre Agapov reports

RUSORO PROVIDES UPDATE ON VENEZUELAN ARBITRATION

On Aug. 14, 2023, Rusoro Mining Ltd. submitted to the U.S. District Court for the District of Delaware a statement setting forth the current value and certain other information concerning the federal court judgment issued on March 2, 2018, by the U.S. District Court for the District of Columbia in favour of Rusoro and against the Bolivarian Republic of Venezuela. In the additional judgment statement, the company reported the amount of the U.S. judgment as $1.48-billion (U.S.), inclusive of federal postjudgment interest accruing from the date of the U.S. judgment (March 2, 2018) to Aug. 14, 2023. Because the U.S. judgment accrues interest at a different rate than the arbitral award that the U.S. judgment recognized, the current value of the U.S. judgment does not capture the full value of the award, which is $1,815-million (U.S.). The company intends to pursue any difference in value between the U.S. judgment and the award in other appropriate jurisdictions. Although the Delaware court has not issued a final determination on the relative priority of the various judgments, based on the guidelines set forth by the Delaware court on July 27, 2023, Rusoro is seventh in order of priority behind approximately $3.5-billion (U.S.) in claims from other claimants.

We seek Safe Harbor.