Rusoro Mining Limited
TSX VENTURE : RML

Rusoro Mining Limited

November 26, 2007 14:04 ET

Rusoro Initiates 50,000 Metre Drill Program at Valle Hondo

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 26, 2007) - Rusoro Mining Ltd. (TSX VENTURE:RML) is pleased to announce that it has initiated a drill program on the Valle Hondo Project 40km SE of the Company's Emilia Mill facilities in Bolivar State, Venezuela.

The Valle Hondo Project currently has NI 43-101 resources of 103,000oz Au indicated (3.5Mt grading 0.92 g/t) and 1,344,000oz Au inferred (47Mt grading 0.89 g/t). Road access has been re-established and the camp and infrastructure completed for the re-start of drilling and exploration on the project. The current program will include 50,000 metres of in-fill and expansion drilling on the main Apanao Zone and several other anomalies that have been identified.

The project is characterized by several kilometre-scale targets of which only the Apanao has been moderately drill tested (13,000m in 114 drill holes). Targets include high grade vein and bulk tonnage mineralization. The existing resource has been outlined within a 1.5km portion of the more than 5.0km long Apanao Zone. The Arenales anomaly, four km west of Apanao, is a 4.0km by 2.5km gold anomaly which will receive first pass drill testing as part of the current program. The Company is confident that it will be able to expand on the near surface results and further define the areas of higher grade mineralization intersected to date (up to 100 g/t Au).

It is expected that the current drill program will continue into Q2 of 2008 with results being released as they become available.

QA/QC

RC drilling will be completed by AK Drilling of Peru. All drilling and drill sampling will be completed using industry standard practices. All drill core will be described in detail and photographed and one half of the core will remain for inspection and reference.

Sample analyses will be conducted at Actlab in Tumeremo and Triad Labs located in El Callao Venezuela. All sample analyses will be completed using industry standard practices including the insertion of standards, blanks and duplicate check samples. A review of the QA/QC results will be completed on an on-going basis. Sample rejects for all drill samples are stored in Rusoro's secure facilities in Tumeremo, Venezuela, and will continue to be available for any further testing which may be required. All QA/QC is completed under the direction of G.F. Smith, P.Geo.

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 this news release.

ON BEHALF OF THE BOARD

George Salamis, President

The TSX Venture Exchange has not reviewed and does not take responsibility for the adequacy or accuracy of this release.

Contact Information

  • Rusoro Mining Ltd.
    George Salamis
    President
    (604) 632-4044
    (604) 632-4045 (FAX)
    Website: www.rusoro.com