Mr. Andre Agapov reports

RUSORO UPDATES GOLD RESERVE ACTION WITH 5 OF 6 CLAIMS THROWN OUT

Rusoro Mining Ltd. is pleased with the Chancery Court's ruling, which dismissed all but one of Gold Reserve's six claims. Rusoro is taking the court's ruling under advisement, but believes that Gold Reserve's remaining claim -- which avoided dismissal strictly on legal, as opposed to factual, grounds -- is equally meritless, and that once the relevant facts are put before the court, that claim should also fail.

We seek Safe Harbor.