Rusoro Receives Final Permits to Commence Offshore Gold Sales and Begin Mining Activities at the 100% Owned Increible 6 Project

Rusoro Mining Ltd. (TSX VENTURE:RML) ("Rusoro" or "the Company") is pleased to
report that the permit to initiate the offshore portion of gold sales from the
Company's operations has been received and will be effective November 1, 2010.
The permit was issued through the Central Bank of Venezuela (CBV) and has
authorized the sale of approximately 50% of the gold produced from the Choco 10
and Isidora mines from August 11, 2010 through September 30, 2010 and signals
the implementation of the country's new gold sale directive. Going forward
authorizations for future offshore gold sales will be granted automatically
through the CBV.


Andre Agapov, President and CEO of the Company stated, "This is a significant
development for Rusoro in our quest to move forward with the planned expansion
at our Venezuelan operations. Our ability to sell a significant portion of our
production off shore will afford the Company a great deal of flexibility with
the expansion capital requirements as we move forward." 


Rusoro is also extremely pleased to report that the Ministry of the People's
Power for the Environment (MinAmb) has issued the authorization to affect
Natural Resources for the Company's Increible 6 Gold Project. The permit is the
final step in the permitting process toward the commencement of mining
activities at Increible 6, which is located 6km from Rusoro's Choco mill.


Concerning the inclusion of the Increible 6 project into the Company's
production profile, VP of Exploration Greg Smith comments, "The inclusion of the
soft oxidized saprolite from Increible 6 in our current mining operations will
have an immediate impact on our gold production. In 2009, supplementing the hard
rock being processed with oxidized material increased the tonnage processed and
production two fold and we expect that bringing Increible 6 on line will have a
similar positive impact." 


With the permitting process completed the Company will now accelerate surface
activities at the project which includes the upgrading of existing roads,
keeping the Company on track for the shipment of mineralized material from
Increible 6 to the Choco mill in 2010. 


The Increible 6 Deposit consists of 1,587,000 ounces indicated (23.5 Mt @
2.11g/t Au) and 1,100,000 ounces inferred (17.5 Mt @ 1.95g/t Au) (see News
Release - Nov. 15, 2007), which Rusoro has advanced through discovery,
delineation and now development. 


Increible 6, along with Choco 10, was the subject of a scoping study (PA), which
evaluated the expansion options at the existing and operating Choco Mill. The PA
is detailed in a report dated June 2, 2009 and titled "Technical Report on the
Preliminary Assessment of the Expansion of Production at Choco 10, Bolivar
State, Venezuela". The PA outlined favourable economics for a significant
expansion to 20,000 tonnes per day which would result in production of an
average of 558,000 oz Au/yr at a cash cost of US$331/oz Au over the 12 year life
of mine. The PA results were reported in the news release dated May 19, 2009,
which is available on SEDAR at www.sedar.com. A Feasibility Study is currently
underway and scheduled to be completed in Q1 2011. 


Qualified Person: Mr. Gregory Smith, P.Geo, the Vice-President, Exploration of
the Company, is the Qualified Person as defined by National Instrument 43-101,
and is responsible for the accuracy of the technical and scientific information
within this news release.


ON BEHALF OF THE BOARD

Andre Agapov, President & CEO

Forward-looking statements: This document contains statements about expected or
anticipated future events and financial results that are forward-looking in
nature and as a result, are subject to certain risks and uncertainties, such as
general economic, market and business conditions, the regulatory process and
actions, technical issues, new legislation, competitive and general economic
factors and conditions, the uncertainties resulting from potential delays or
changes in plans, the occurrence of unexpected events, and the Company's
capability to execute and implement its future plans. Actual results may differ
materially from those projected by management. For such statements, we claim the
safe harbour for forward-looking statements within the meaning of the Private
Securities Legislation Reform Act of 1995.

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