Rusoro Mining Limited

Rusoro Mining Limited

November 17, 2009 20:06 ET

Rusoro Purchases Part of Outstanding Senior Secured Exchangeable Loan

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 17, 2009) - Rusoro Mining Ltd. (TSX VENTURE:RML) announces that it has purchased the principal amount of U.S.$20,000,000 dollars of the outstanding U.S.$80,000,000 senior secured exchangeable loan which was issued by a wholly owned Rusoro subsidiary to a syndicate of lenders led by Petropavlovsk PLC (formerly Peter Hambro Mining PLC). Rusoro is a guarantor of the loan. The purchase price paid was U.S.17,000,000 for the principal amount of the loan and U.S.$724,591 for accrued interest to the date of closing for a total of $17,724,591.


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.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this press release, which has been prepared by management.

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