Rusoro Gives Update on New Gold Industry Law

Rusoro Mining Ltd. (TSX VENTURE:RML) ("Rusoro" or "the Company") reports the
following:


On August 23, 2011, President of Venezuela Hugo Chavez Frias approved a decree
with force of organic law ("the Decree") which reserves to the State of
Venezuela ("the State"), exclusive rights for the extraction of gold in
Venezuela.


On August 24, 2011, the organic status of the decree was approved by the Supreme
Court of Venezuela and it was published in the Official Gazette of Venezuela on
September 16, 2011.


The Company's President and Chief Executive Officer as well as its Chairman,
Messrs. Andre and Vladimir Agapov, have met with Mr. Rafael Ramirez, President
of the Venezuela State owned oil company PDVSA and Minister of Energy and
Petroleum of Venezuela.


Mr. Ramirez was informed of the Company's listing on TSX Venture Exchange and
the importance for the company to protect shareholder value.


Mr. Ramirez outlined the Government's intention to enter into a joint operating
agreement with Rusoro, forming a mixed interest enterprise (the Mixed
Enterprise) for the purposes of the future development and exploitation of gold
assets in Venezuela. Mr. Ramirez has informed the Company's officers that the
Venezuelan State, is seeking a controlling stake in the Mixed Enterprise (55%)
and that Rusoro will be compensated for its decrease in ownership.


Rusoro continues to produce gold from two operations, the open pit Choco 10 mine
and the high grade underground Isidora mine, a 50/50 joint venture with the
Venezuelan Government. 


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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