Mr. Andre Agapov reports

RUSORO ANNOUNCES CLOSING OF PRIVATE PLACEMENT

Rusoro Mining Ltd. has closed its previously announced non-brokered private placement for aggregate proceeds of $1-million through the issuance of 2.5 million common shares at a price of 40 cents per common share.

The company intends to use the proceeds from the financing for legal fees to continue supporting the efforts to collect on the company's arbitration award and for general working capital.

The securities issued in connection with the financing are subject to a four-month statutory hold period expiring on March 21, 2024, in accordance with applicable securities laws and the policies of the TSX Venture Exchange.

We seek Safe Harbor.