Rusoro Mining Limited

Rusoro Mining Limited

April 28, 2009 14:49 ET

Rusoro Mining Ltd. Appoints Chief Operating Officer and VP Corporate Development

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 28, 2009) - Rusoro Mining Ltd. (the "Company") (TSX VENTURE:RML) is pleased to announce the appointments of Mr. Roman Amosov to the position of Chief Operating Officer and Mr. Dmitry Ushakov to the position of VP Corporate Development, effective immediately. Mr. Amosov brings many years of technical and operational mining experience and Mr. Ushakov a strong evaluative and financial background, to the Company's executive management team.

Mr. Amosov is a Mining Engineer and graduate from the Moscow State Institute of Nonferrous Metals and Gold. He has extensive experience in mining project management in a number of regions in the world including Latin America and the Former Soviet Union, specifically in the areas of technical auditing of gold mine processing facilities, the organization and operation of underground gold mines and in the area of mill and mobile fleet maintenance. He also has significant experience in the preparation of environmental impact and feasibility studies from gold projects located in a number of different mining regions around the world.

Mr. Ushakov has a Masters Degree in Foreign Economic Relations from the Moscow Financial Institute. He is the Director General of Interros Holding Company, a major Russian private investment company which operates throughout Russia, Europe, Asia, and North America and who are significant shareholders of Norilsk Nickel and Polyus Gold. In the resource sector he has worked directly with both Norilsk and Polyus and was formerly the Chairman of the Board for Sidanco Oil. Mr. Ushakov will play a critical role in evaluating potential acquisitions and the associated financial and integration aspects that may be associated with any acquisitions that are contemplated. His strong business relationships and experience in Europe and the Former Soviet Union will be of significant benefit to the Company.

The Company's President, George Salamis, states, "I am very pleased to welcome Roman and Dmitry into Rusoro's executive management group. Their extensive operational and financial experience within the mining industry will be of considerable benefit to the Company as we continue to execute our aggressive growth strategy in Venezuela."

The Company also announces that it has granted incentive stock options under its stock options plan to directors, officers, employees and consultants of the Company for the purchase of up to 15,980,000 shares in the capital of the Company. The options are exercisable on or before April 23, 2019 at a price of $0.60 per share. Further, the Company announces that it has re-priced 3,610,000 outstanding options held by employees and consultants of the Company to a price of $0.60 per share.


George Salamis, President

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.

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
    (604) 632-4044 or Toll Free: 1-800-668-0091
    (604) 682-1514 (FAX)