Rusoro Mining Limited

Rusoro Mining Limited

April 15, 2010 12:07 ET

Rusoro Mining Ltd.: Results Received from Underground Sampling at SREP Project

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 15, 2010) - Rusoro Mining Ltd. ("Rusoro") (TSX VENTURE:RML) is pleased to report the results from recent underground sampling completed on the main mineralized zone at the San Rafael / El Placer (SREP) Project, located in the El Dorado District, Bolivar State, Venezuela.

Rusoro completed the 1.5 kilometre underground ramp (4.5 metres wide by 5.0 metres high) in Q1 2010 to access the main (E3 and D) mineralized zones at SREP. Detailed sampling is being completed on the primary structure as part of the on-going exploration and verification program designed to validate the existing resources and the current block model. Sampling completed between 18/03/2010 and 08/04/2010 on the -40m level (approximately 200m below surface) has confirmed the width and grade of the main mineralized zone. Weighted averages and vein results from recent samples include;

Date Location Weighted Average (1) Primary Vein Sample (2) Duplicate Vein Sample (3)
18/03/2010 -40E / 15.4m 9.26 g/t over 2.80m 53.7 g/t over 0.80m 10.77 g/t over 0.80m
24/03/2010 -40E / 18.1m 23.03 g/t over 3.10m 64.07 g/t over 0.60m 149.8 g/t over 0.60m
26/03/2010 -40E / 19.4m 2.08 g/t over 2.95m 5.33 g/t over 0.35m 7.05 g/t over 0.35m
29/03/2010 -40E / 20.8m 2.23 g/t over 2.20m 2.82 g/t over 0.52m 9.53 g/t over 0.52m
30/03/2010 -40E / 22.9m 14.24 g/t over 2.19m 53.79 g/t over 0.36m 94.61 g/t over 0.36m
05/04/2010 -40E / 29.0m 79.51 g/t over 3.15m 590.1 g/t over 0.40m 423.4 g/t over 0.40m
07/04/2010 -40E / 30.25m 34.26 g/t over 3.27m 115.53 g/t over 0.40m 148.44 g/t over 0.40m
08/04/2010 -40E / 32.0m 103.04 g/t over 3.38m 487.30 g/t over 0.43m 904.77 g/t over 0.43m


  1. Weighted averages calculated using results from all individual mineralized samples (including quartz veins and alteration) from each continuous chip sample section. High grade results calculated using averaged results from all sets of primary and duplicate samples. All widths are true widths. See table at end of news release for individual sample results and descriptions.
  2. Primary vein samples collected as part of main sample profile.
  3. Duplicate vein samples collected one metre above primary sample.

Concurrently with the sampling program Rusoro's consultant, Whillans Mine Studies Ltd., continues to advance the SREP Pre-feasibility study on schedule to be completed within the next three weeks. The study is modeling the development, mining and processing of mineralized material from the indicated resources contained within the main E3 and D Zones.

Greg Smith, Rusoro's V.P. Exploration, commented that, "It is extremely positive that the underground sampling completed to date confirms the results of our drilling and the grades and widths estimated in our resource model. We will continue to move forward with this verification work and the evaluation of the SREP mineralized Zones."

The SREP Project currently has National Instrument 43-101 ("NI 43-101") compliant resources of 399,000 oz Au indicated (639,000t @ 19.41g/t) and 523,500 oz Au Inferred (703,000t @ 23.16g/t). The SREP Resource Estimate uses a cut off grade of 8.0 g/t Au, a minimum width of one metre, a specific gravity of 2.80 g/cm3, and capping of high grade gold assays at 80 g/t Au as detailed in a report titled "Technical Report on the San Rafael-El Placer and Days Vein Deposits, Bolivar State, Venezuela" dated October 2, 2008.

Sample analyses have been conducted at independent commercial facilities ActLabs Lab in Tumeremo Venezuela, and Phoenix Labs located in El Callao Venezuela. All sample analyses was completed using industry standard fire assay practices and included a rigorous Quality Assurance / Quality Control (QA/QC) program consisting of the insertion of standards, blanks and duplicate samples randomly into the sample stream. Additionally secondary check samples were collected and assayed on all vein intervals. A review of the QA/QC results shows no significant bias and all results are considered highly reliable. Sample rejects for all samples will continue to be stored in Rusoro's secure facilities in Tumeremo, Venezuela, and will be available for any further testing which may be required.

Qualified Person: Mr. Gregory Smith, P.Geo, the Vice-President Exploration of Rusoro, is the Qualified Person as defined by NI 43-101, and is responsible for the accuracy of the technical data and information contained in this news release.


George Salamis, President

Cautionary Note Regarding Forward-Looking Statements

Except for the statements of historical fact contained herein, the information presented constitutes "forward looking statements". Such forward-looking statements, including but not limited to those with respect to the closing of the offering, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Rusoro to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among other risks, risks related to the closing of the offering, as well as those factors discussed in the section entitled "Risk Factors" in Rusoro's Annual Information Form dated December 12, 2008 as filed on SEDAR. Although Rusoro has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Detailed Sample Results and Descriptions

Section Width (m) Au g/t check Au g/t   Description
-40E / 32.0m 0.44 3.27     Alt. zone + pyrite
  0.63 1.13     Qtz. Vein w chlorite (VG)
  0.20 22.97 14.63   Alt. zone + quartz vein
  0.74 3.37     Alt. zone + pyrite
  0.60 8.9     Qtz. Vein w chlorite
  0.43 487.3 904.77   Qtz. Vein w chlorite
-40E / 30.25m 0.27 1.24     Alt. zone + pyrite
  0.40 115.53 148.44   Qtz. Vein w chlorite (VG)
  0.30 25.67 20.16   Alt. zone + quartz vein
  0.82 5.88     Alt. zone + pyrite
  0.36 70.79 144.72   Qtz. Vein w chlorite
  0.80 11.35 8.09   Qtz. Vein w chlorite
  0.32 1.95     Lapilli Tuff
-40E / 29.0m 0.30 6.63     Alt. zone
  0.40 590.07 423.42   Qtz. Vein w chlorite (VG)
  0.60 34.67 38.79   Qtz. Vein white
  0.60 25.38 52.23   Qtz. Vein w chlorite
  0.25 1.19     Alt. zone + quartz veinlets
  1.00 0.16     Lapilli Tuff
-40E / 22.9m 0.25 3.19     Alt. zone
  0.36 53.79 94.61   Qtz. Vein w chlorite (VG)
  0.34 0.44 1.54   Qtz. Vein white
  0.29 7.45 5.42   Qtz. Vein w chlorite
  0.43 1.86     Alt. zone + quartz veinlets
  0.52 0.69     Alt. zone
  0.78 0.39     Lapilli Tuff
-40E / 20.8m 0.40 0.93     Alt. zone
  0.52 2.82 9.53   Qtz. Vein w chlorite
  0.50 0.83     Qtz. Vein white
  0.48 1.78     Alt. zone + quartz veinlets
  0.30 0.04     Alt. zone + quartz veinlets
  0.78 0.04     Lapilli Tuff
-40E / 19.4m 0.40 6.59 3.48   Alt. zone w pyrite + qtz veinlets
  0.30 4.31 3.27   Qtz. Vein w alt. zone
  0.35 5.33 7.05   Qtz. Vein w alt. zone
  0.20 0.52     Alt. zone w pyrite
  0.40 0.14     Alt. zone + quartz veinlets
  1.30 0.51     Alt. zone w pyrite
-40E / 18.1m 0.30 19.63     Alt. zone w pyrite + qtz veinlets
  0.60 64.07 149.78   Qtz. Vein w chlorite
  0.60 1.55     Alt. zone
  0.80 0.45     Alt. zone w pyrite
  0.80 0.09     Alt. zone + quartz veinlets
-40E / 15.44m 0.80 53.7 10.77   Qtz. Vein w Alt. Zone + pyrite
  0.70 0.07     Alt. zone w pyrite
  1.30 0.06     Alt. zone + quartz veinlets

Abbreviations; quartz (Qtz), alteration (Alt), with (w), and (+), visible gold (VG)

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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