Mr. Todd Fogarty of Silver Point reports

SILVER POINT ANNOUNCES ACQUISITION OF COMMON SHARES IN RUSORO MINING LTD.

On Feb. 13, 2024, three of Silver Point Capital LP's affiliates, Silver Point Distressed Opportunity Institutional Partners II Master Fund (Offshore) LP, Silver Point Distressed Opportunity Institutional Partners II LP and Silver Point Luxembourg Platform Sarl, acquired through the TSX Venture Exchange, in aggregate, 16,535,800 common shares of Rusoro Mining Ltd. at 94 cents per acquired share for a total of $15,543,652. SP Distressed Offshore acquired 2,209,409 acquired shares, SP Distressed acquired 6,390,859 acquired shares and SPLP acquired 7,935,532 acquired shares.

Prior to the acquisition, none of SP Distressed Offshore, SP Distressed or SPLP owned any common shares of Rusoro, and Silver Point, together with its affiliates, beneficially owned and exercised control or direction over 111,920,836 Rusoro shares, representing approximately 19.47 per cent of the issued and outstanding Rusoro shares.

Following completion of the acquisition, Silver Point, together with its affiliates, has registered or beneficial ownership of and control or direction over 128,456,636 Rusoro shares, representing approximately 22.35 per cent of the issued and outstanding Rusoro shares, with: (i) SP Distressed Offshore having ownership of 2,209,409 Rusoro shares, representing approximately 0.38 per cent of the issued and outstanding Rusoro shares; (ii) SP Distressed having ownership of 6,390,859 Rusoro shares, representing approximately 1.11 per cent of the issued and outstanding Rusoro shares; and (iii) SPLP having ownership of 7,935,532 Rusoro shares, representing approximately 1.38 per cent of the issued and outstanding Rusoro shares.

The Silver Point entities acquired the acquired shares for investment purposes, and may increase or decrease its ownership of Rusoro shares, whether in the open market, by privately negotiated agreements or otherwise, subject to a number of factors, including its respective evaluation of the business, prospects and financial condition of Rusoro, the market for Rusoro's securities, general economic and tax conditions, and other factors.

Additional early warning disclosure

By virtue of the acquisition, the Silver Point entities are required to file an early warning report pursuant to National Instrument 62-103 (the Early Warning System and Related Take-Over Bid and Insider Reporting Issues). A copy of the early warning report will be filed on Rusoro's SEDAR+ profile. For further information or to obtain a copy of the corresponding early warning report, please contact Todd Fogarty at 212-521-4854.

About Rusoro Mining Ltd.

Rusoro is listed on the TSX Venture Exchange under the symbol RML, and has a head office at Suite 3123, 595 Burrard St., PO box 49139, Vancouver, B.C., V7X 1J1.