Mr. Andre Agapov reports

RUSORO ANNOUNCES CLOSING OF PROMISSORY NOTE FINANCING

Rusoro Mining Ltd. has closed a financing of unsecured, non-interest-bearing promissory notes. In consideration for the notes, the subscribers paid the company an aggregate of $1.7-million (U.S.).

The notes do not have any fixed maturity date. The principal amount payable to the subscribers under the notes is $5.1-million (U.S.) if paid on or before July 31, 2028, and $6.8-million (U.S.) if paid after July 31, 2028. The principal amount will only become due and payable from proceeds received by the company pursuant to any successful enforcement of its arbitral award against the Bolivarian Republic of Venezuela for its unlawful expropriation of the company's Venezuelan investments.

Proceeds from the financing will be applied to payment of legal expenses relating to the company's continuing activities to enforce its arbitral award against the Bolivarian Republic of Venezuela and for working capital.

We seek Safe Harbor.